- The auctioned properties include as Al Naim, Arad, Hamala, Souq Al Muharraq, Salmaniya, and Samaheej
Mazad unveils exclusive auction of 12 Edamah properties in Bahrain
Manama, Bahrain: Mazad, a local portfolio company of Bahrain Mumtalakat Holding Company ‘Mumtalakat’, has announced an upcoming auction from the 16th of January to the 5th of March 2024. 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 the Kingdom of 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 opportunity to a diverse array of potential buyers.
Talal Al Araifi, CEO of Mazad said, “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.”
“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.
Further information about the auctioned properties, can be found online at www.mazad.app or by downloading the Mazad App from the App Store or Google Play Store. Users can easily navigate to the properties category and place their bids securely and conveniently. For further support users can call 17778887 or email support@mazad.app.
About Mazad:
Mazad W.L.L. “Mazad” was established on April 2017 to organize and supervise auctions in the Kingdom of Bahrain. Mazad was established with the responsibility of managing and organizing auctions of different types of assets in Bahrain. With an unwavering commitment to its core values of transparency, fairness, competitiveness and sustainability, Mazad strives to introduce new and innovative asset sale and auction mechanisms to aid the Kingdom’s market growth and revenue optimization.
For more information, please contact:
Maram Al-Aradi
Email address: maram.alaradi@mazad.bh
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© Press Release 2023
