Mazad to auction three key industrial plots in Bahrain

Mazad to auction three key industrial plots in Bahrain

Bahrain's Ministry of Industry and Commerce, in cooperation with Mazad has announced the launch of the fourth batch of facilities based on industrial plots within its industrial zones.

Mazad is a local portfolio company of Bahrain Mumtalakat Holding Company, the kingdom's sovereign wealth fund, that has been mandated with overseeing public and electronic auctions.

This launch is aimed at transferring the ownership of these facilities to new investors to establish new projects and conclude new lease contracts for the industrial plot with the ministry, reported BNA.

The auction includes three industrial facilities, one in Maameer Industrial Zone, covering a 2,341 sqm area with a starting price of BD97,852 ($256,913), it stated.

The second one is in Al Muzarraa Industrial Zone covering a 11,000 sq m area with a starting price of BD160,628 and third in Salman Industrial Zone covering a 3,975 area with a starting price of BD46,261.

Abdullah bin Adel Fakhro, Minister of Industry and Commerce, affirmed the continued efforts to expand partnership with the private sector by presenting investment opportunities for the industrial sector through Bahrain Mazad Company, which supports the economic growth of the industrial sector and increases its contribution to the GDP.

The ministry had in 2020 signed a service agreement with