Mumtalakat forms new company for auctions

Manama : The first public auction on special new private vehicle number plates in the Kingdom will be held on April 13.

The date was announced by Mazad, a new company responsible for conducting and organising auctions in collaboration with internationally renowned auction houses.

Mahmood Hashim AlKooheji, the CEO of Bahrain’s investment arm Mumtalakat also announced that the auction would be led by Mazad Chief Executive Officer Talal Aref Al-Arifi

“We hope to launch, with this auction, a new instrument for selling and buying in compliance with the principles of justice, sustainability and competitiveness”, said Talal Aref Al-Arifi.

He said that the public auction would be held in accordance with best standards and practices, particularly transparency.

Special serial vehicle number plates starting from 600000 will be on offer at the auction. 

A big rush is expected to buy the numbers 600000, 606060, 600600 and 600006. 

Proceeds of the auction will be transferred to the Ministry of Finance.

“The establishment of  “Mazad” aims to introduce new and innovative mechanisms to facilitate market growth, competition, and efficiency,” Mahmood Hashim AlKooheji said, adding that Mazad’s first auction underscores Bahrain’s commitment to encouraging transparency, fairness and competitiveness across key sectors.