Mazad to auction five Edamah owned plots

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Five properties owned by Bahrain Real Estate Investment Company (Edamah) are up for auction starting this Tuesday, said auction company Mazad.

The online auction, Mazad said, would continue until the 28th of December 2021.

To follow the auction, log on to the website of Arabian Auction (www.Arabian.auction) or its smartphone app.

Coming up for sale will be the local plots (undeveloped) owned by Edama having different locations, sizes and classifications.

This is also the second time Mazad is auctioning properties owned by Edamah.

In April last year, Mazad sold six vacant plots owned by Edamad through live auctions.

The current auction follows a deal signed between Mazad and Edamah to sell local real estate.

Talal Al-Arifi, CEO of Mazad Company, said: “The electronic auctions provide equal opportunities for all those interested in buying real estate.”

Amin Al-Arayedh, CEO of Edamah, said the proceeds from the sale would finance the national projects.

Financial proceeds from the sale of these properties will fund the national project (Bilaj Aljazayer development project).

The auction, in a first, also allows real estate brokers and sales agents registered with the Real Estate Regulatory Authority to participate and register those interested in buying through them.

To register, Call 38988808 or email info@mazad.bh.