Bahrain Car Parks Company (Amakin) B.S.C. a key player in the parking management and real estate sector and a publicly-listed company on the Bahrain Bourse (Trading code: CPARK), announces the signing of a partnership agreement with Mazad; a Bahrain-based public auction specialist company, to organise and manage public auctions of Amakin’s non-core business properties.
The strategic partnership will enable buyers to get exclusive and best rates in the market for Bahrain Car Parks (Amakin) in demand assets. Moreover, this key collaboration will stimulate and boost investments, while creating fierce competition in the Kingdom. The project will be open to buyers online ensuring a safe and seamless experience.
Commenting on the occasion, the CEO of Bahrain Car Parks Company, Tariq Aljowder said, “Our partnership with Mazad reflects our underlying commitment in the market to promote the principles of transparency, fairness and competitiveness across key sectors in the Kingdom. Furthermore, auction environments create more interest and demand, while encouraging buyers to find and assess investments and development opportunities in a much faster way.”
Talal Aref AlAraifi, CEO of Mazad, added: “We are pleased to have partnered with one of Bahrain’s key players within the real estate sector. This further diversifies our asset-sale portfolio, and is another step towards achieving our goals. The platforms we provide in partnership with the renowned player in this sector supports facilitating market growth, efficiency and revenue optimisation. We believe that auctioning is a vital move for Bahrain to take to increase investor trust in the real estate sector and we have provided a solid platform and solution to do just that.”
It is worth noting that the live auction is due to kick off on Sunday, January 16th 2022, and auction details will be announced soon.