BIBF, RERA successfully conclude 2nd edition of the National Real Estate Forum & Expo
Attended by 400 participants and Powered by Diyar Al Muharraq
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The Bahrain Institute of Banking and Finance (BIBF), in collaboration with the Real Estate Regulatory Authority (RERA) and powered by Diyar Al Muharraq, successfully concluded the second edition of the National Real Estate Forum on Monday, 26 February 2024 at the BIBF Auditorium.
Under the theme “Innovating Real Estate Beyond Boundaries”, the hybrid forum was attended by 400 government officials, real estate executives, and investors, to explore the dynamic landscape of Bahrain’s real estate sector around three main tracks: The Future of Real Estate, a Sustainable Tomorrow, and PropTech in Action.
The first track featured a keynote presentation on “PropTech & Sustainability” by Dr. Mahmoud Alburai, Senior Policy Advisory from the Dubai Land Department. This was followed by an enlightening opening panel discussion titled “Building Bahrain’s Innovative Real Estate Future,” moderated by Mr. Mohammed Al Ammari, Chief of Strategic Planning & Projects Management and Acting Chief of Legal Section at RERA. The panelists included H.E. Shaikh Mohammed bin Khalifa Al Khalifa, CEO of RERA; H.E. Eng. Ahmed Abdulaziz Al-Khayat, CEO of the Urban Planning and Development Authority; Mr. Abdulhakeem Al Khayyat Chairman of Diyar Al Muharraq and Chairman of Durrat Al Bahrain; and Dr. Maher Al Shaer Managing Director of Eagle Hills Diyar and Managing Director of Bareeq Al Retaj. The first track continued with a session on “National Innovation: Design Thinking Meets PropTech,” presented by Dr. Khalid Abdulla, General Manager of Eskan Bank, offering valuable insights at the intersection of design thinking and PropTech.
The forum continued with the second track, which commenced with a keynote presentation on “PropTech & The Future of Real Estate” by Ms. Lynnette Sacchetto, a PropTech Strategist. This was followed by an engaging panel discussion titled “The Green Revolution: PropTech’s Contribution to Sustainability,” moderated by Mr. Ali Murtaza, Real Estate Director from KSA. The panelists included Mr. Amin Al Arrayed, CEO of Naseej BSC (c); Dr. Ahlam Zainal, CEO of Al Areen Holding Company; and Dr. Sh. Fay Al Khalifa, President of Bahrain Smart City Society. This session provided valuable insights into how PropTech can contribute to sustainability in the real estate sector, fostering a discussion on innovative approaches and green initiatives.
Concluding the forum, the third track showcased real solutions in the Solutions Showcase session titled “Bringing Real Solutions to Light,” moderated by Mr. Yousif Faraj, Digital Transformation Expert Trainer at BIBF. The session featured presentations from various speakers, including Mr. Ahmed Alkooheji, Databank Team Member from RERA, presenting ‘Aqari’; Mr. Humood Jassim Abdulla Alhumood, Director of Information Technology Directorate from the Ministry of Finance & National Economy, presenting the Government Land Investment Platform; Mr. Khalid Al Khaja, Senior Manager Sales & Marketing from Eskan Bank, presenting ‘Bayti’; Mr. Abdulla Tareq Alhasan, Vice President of Sales from Estater, presenting ‘Estater’; Mr. Narayanan Ganapathy, Co-founder and Board Member of Bambucorn, presenting ‘Bambucorn’, and Mr. Khaled Al-Saeh, Country Manager (Bahrain, KSA, and Qatar) at Property Finder, presenting ‘Property Finder’.
The forum concluded with closing remarks delivered by Eng. Ahmed Al Ammadi, CEO of Diyar Al Muharraq, reflecting on the insightful discussions and innovative solutions presented throughout the event.
The event also featured an accompanying exhibition showcasing the latest techniques, solutions, and technologies in the real estate field, with participation from various organisations including RERA, Diyar Al Muharraq, Urban Planning and Development Authority, Eskan Bank, Ministry of Finance and National Economy, Bareeq Company, and Naseej Company.
The successful launch of the 2nd edition of the Bahrain National Real Estate Forum highlights the commitment of RERA, BIBF, and Diyar Al Muharraq to empowering real estate professionals amid an evolving landscape. As a cornerstone initiative of the National Real Estate Plan 2021-2024, the forum accelerates Bahrain’s real estate sector toward innovation and sustainability, serving as a catalyst for progress and excellence.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Villa prices saw particularly strong growth, with capital values increasing by 33.4 percent year-on-year
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Dubai’s real estate market showed strong performance in the second quarter of 2024, with notable increases across the residential, office, and retail sectors, according to a new ValuStrat real estate report for Q2 2024.
Villa prices experienced particularly strong growth, with capital values rising by 33.4 percent year-on-year.
Haider Tuaima, Director and Head of Real Estate Research at ValuStrat said: “The Dubai real estate market has shown impressive growth and resilience in recent months. The ValuStrat Price Index for Residential Capital Values increased by 6.4 percent quarterly and 28.2 percent annually, reaching 178.2 points.
“Despite severe flooding caused by record rainfalls in April, the quick and effective response from developers and authorities helped to control the damage, ensuring that market activity and property valuations remained robust in the subsequent months.”
The office sector also performed well, with the VPI for office capital values surging by 31.7 percent annually and 9.4 percent quarterly, reaching 212.5 points—the highest quarterly increase in a decade.
In the retail sector, Emaar Properties reported 98 percent occupancy in their prime mall assets, while overall mall occupancy stood at 96 percent during the first quarter of 2024. The hospitality sector also saw growth, with total international guests reaching 8.12 million as of May 2024, a 9.9 percent increase compared to the same period last year. Hotel occupancy reached 81 percent, rising by 1.4 percent year-on-year.
Despite these positive indicators, Tuaima added, “The decline in transaction volumes calls for a closer examination of market dynamics as stakeholders navigate this evolving landscape.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
