Arabian Auction launches its first operations and signs an agreement to organize the first auction in Bahrain

Mazad, one of the companies under Bahrain Holding (Mumtalakat), signed a cooperation agreement with Arabian Auction, a Bahraini company affiliated with Emirates Auction, to organize and manage the first public auction in the Kingdom of Bahrain for 50 special private vehicle plate numbers tomorrow.

The agreement was signed by Talal Aref Al-Arefi, CEO of Mazad, and Abdullah Matar Al-Mannai, Chairman and Managing Director of Emirates Auction, yesterday in the Bahraini capital, Manama, in the presence of a number of officials from both companies.

This auction is the first undertaking for Arabian Auction, the newly founded Bahraini company operating under the umbrella of Emirates Auction, the leading company in organizing and managing public and online auctions in the Middle East. It also marks the first endeavor for Mazad, which operates under Bahrain Holding and oversees auctions by contracting with experienced global auction companies.

Abdullah Al-Mannai stated that the agreement represents a promising opportunity to kick off operations in Bahrain alongside Mazad, especially given the Bahraini market’s reputation and favorable regulatory environment for hosting various events, including public auctions.

He emphasized that Arabian Auction will leverage its more than 14 years of experience to work alongside Mazad, ensuring the success of the first auction in Bahrain for special private vehicle plate numbers. Enthusiasts of distinctive plate numbers will have the opportunity to participate by registering to enter and bid on their preferred numbers.

For his part, Talal Al-Arefi said that under this agreement, Mazad will entrust Arabian Auction with organizing the first auction for the sale of special private vehicle plate numbers, benefiting from its expertise in auction organization to achieve the objectives for which Mazad was established.

Al-Arefi explained that the funds raised during the auction from the sale of special private vehicle plate numbers would be deposited with the Bahraini Ministry of Finance. He noted that Mazad looks forward to playing a significant role in the coming phase of the Bahraini market through supervising the organization of auctions of all kinds.

This article has been translated and is not the original content.