Mazad unveils exclusive auction of 12 Edamah Properties in Bahrain

 

Manama, Jan. 16: Mazad, a local portfolio company of Bahrain Mumtalakat Holding Company ‘Mumtalakat’, has announced an upcoming auction on January 16 – March 5.

The auction will feature a diverse range of 12 unique properties that are owned by Mumtalakat’s real estate arm, ‘Edamah’ (Bahrain Real Estate Investment Company) and is in line with Mumtalakat’s commitment to enhance collaborative opportunities between its portfolio companies.

The auctioned properties, which are in strategic locations in Bahrain such as Al Naim, Arad, Hamala, Souq Al Muharraq, Salmaniya, and Samaheej, consist of buildings, shops, villas, farmland, and land plots; the most prominent of which is a 3716sqm agricultural plot in Hamala and a nursery in Hamad Town. The minimum starting bid is BHD 60,000 up to BHD 480,000, offering opportunities to a diverse array of potential buyers. 

“By collaborating with Edamah, we can promote some of Bahrain’s real estate properties, across the region, contributing to the national economy.

Our platform is designed to attract qualified buyers and speed up the transaction process by providing a trusted and transparent space in which bidders may engage in equitable competition,” Talal Al Araifi, CEO of Mazad said.

“We encourage the general public and corporates to participate in the upcoming auction as we reveal some attractive opportunities on real estate in Bahrain,”  Al Araifi, added. 

In line with Bahrain’s overarching strategic objective of promoting sustainability, the collaboration between Mazad and Edamah will furnish individuals, developers, and investors with the opportunity to expand their real estate portfolios via Mazad’s online auction system. This will enable potential buyers from across the region to participate in a fair and competitive bidding environment.