gulfBID, gulfInteriors & Gulf Property Show

Mithaiwala with Jubran Abdulrahman, managing director, Hilal Conferences and Exhibitions.

Mithaiwala with Jubran Abdulrahman, managing director, Hilal Conferences and Exhibitions.

Pegasus raises bar for projects in Bahrain

April 2015

Pegasus Real Estate of Bahrain, which describes the Gulf Property Show as a great platform for showcasing new and existing projects to both local and foreign investors, is returning to the event this year with some new and interesting projects.

The award-winning real estate agency will demonstrate how it is raising the bar for exclusive residential real estate projects in Bahrain as it showcases Juffair Heights, recently voted the ‘Best high-rise residential development’ at the Arabian Property Awards – as well as upcoming projects in Zinj and other parts of Bahrain.

Juffair Heights is a twin-tower freehold residential project currently under construction and expected to be completed in mid-2016. It comprises 376 one, two and three-bedroom units within the 28 and 29-storey twin towers.

Announced last April, the project has already generated a great deal of interest, particularly among Arab and other expatriates living in Bahrain and neighbouring countries. Construction continues at a rapid pace on the project, which is reported to be ahead of schedule – without compromising build quality and contractor safety – boasting 460,000 accident-free man-hours at site.

Also on display will be the under-construction Galleria project, a boutique mall in Zinj with a gross leasable space of 19,000 sq m, which is expected to see completion by this year-end.

Pegasus managing director Aziz Mithaiwala says: “The company has participated at Gulf Property Show since the exhibition’s inception, and our presence has grown with the show. This year, our stand has expanded to 70 sq m, a statement not only of our confidence in and approval for the show, but also our desire to showcase in our home market the wide range of services provided by Pegasus, including exclusive representation of projects, facilitating clients looking to buy and lease properties and property management.”

Pegasus has previously exhibited at the show when it struck some deals, according to Hisham Ismail, the company’s manager operations and business development.

Pegasus Real Estate, which employs a total of 25 staff, was established in 2005 and is located in Bahrain’s Seef district.

Some of the services provided by Pegasus include exclusive representation, property management, facility management, finance/mortgage, consultancy and approval, portfolio management, development consultancy, international sales, interior consultancy, and letting and relocation.

Ismail says business has been on the rise since the beginning of 2014 and “encouragingly higher compared to 2012 and 2013”.

He adds the company is currently working on establishing an office in Saudi Arabia to broaden its outreach.

Pegasus has also installed a new property management system by the UAE-based Go Masterkey.

“The system allows Pegasus to professionally manage and promote the properties managed and marketed by the agency on behalf of its clients,” explains Ismail.

Commenting on Bahrain’s construction industry and the prospects it holds for the future, he says: “The Bahrain property development market has seen a cautious revival in the construction and development sector with more value-based projects coming into play, targeting mainly the mid and higher market segment.”

Pegasus Real Estate can be visited at Stand GP80 at the Gulf Property Show.

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