JEDDAH, 8 October 2004 — As part of a seminar series marking its silver jubilee celebrations, Bahrain-based Taib Bank is bringing together prominent speakers from around the globe to offer insight into the major trends gathering momentum in the real estate markets worldwide.
Focusing on the power of real estate as an investment holding, the Real Estate Seminar will also examine the impact, opportunities and issues of real estate investments in the Gulf. The event will be held from Sunday at the Crowne Plaza Hotel Conference Center, Manama.
According to Jim Schlagheck, Taib executive vice president in charge of Taib Private Bank, current investment opportunities in the area of real estate make this an opportune time to hold the seminar, the topics of which closely match the investment interests of Gulf-based investors.
“Taib Bank has long experience and expertise in real estate,” the executive said. “It offers highly attractive regional and offshore real estate investments to meet the wealth-management needs of its clients. Essentially, Taib acquires, improves, holds, then exits income-producing properties in order to produce attractive rent income as well as strong capital gains for investors. Since the outset of 2002, Taib has brought more than $900 million of real estate offerings to clients,” Schlagheck said, adding that the seminar will offer insight into current trends in real estate in three distinct sessions.
The real estate seminar will be moderated by Nicholas Clegg, former chairman of Daiwa, Europe.
The seminar’s first session, entitled “Opportunities in Residential and Retail Real Estate in the USA”, will review changes in residential and retail markets and will look at how rising interest rates are creating a very different investment environment. Speakers will include Millie Cassidy, president, Sentinel Real Estate Corp., New York, and Duane Stiller, president, Woolbright Development, Inc., Florida. These experts head groups with very strong investment records in the United States.
The next session, “Real Estate Returns in the UK, Continental Europe and Japan”, will focus on other locations where favorable real estate returns can be achieved.
Richard Anning, chief executive officer, Sydney & London Properties Ltd., will describe investment opportunities in the UK. He will be joined by Joao Fraga de Azevedo Monteiro, vice-CEO of Mello Imobiliaria SGPS SA, Lisbon, who will highlight opportunities in Portugal.
A third session, “Real Estate Opportunities in the GCC”, will probe expected trends in the GCC states and the current market boom.
Essam Janahi, chief executive officer of Gulf Finance House (GFH), will offer views on Gulf developments.
GFH is a developer of landmark real estate projects in the Gulf, which include Bahrain Financial Harbor and Al Areen Desert Spa and Resort.
“Over the past 25 years, Taib Bank has honed its skills in packaging successful real estate investments. Many of our wealth-management offerings — such as investments in commercial and multiple-property real estate — produce exceptional returns. We are also seeing huge client interest in this asset class. So the seminar on Oct. 10 is sure to be an eye-opener for those keen on learning how ‘bricks and mortar’ can translate into highly attractive financial returns,” added Susan Clark, the executive who heads Taib’s Real Estate Department.
