Six Properties to Be Auctioned in Edamah’s Online Auction on December 1

Mazad unveiled information about the six properties that will be auctioned online starting Tuesday, December 1, lasting three weeks. Owned by Edamah, these properties will be sold in collaboration with Arabian Auction.

Characterized by their varied locations, sizes, and classifications, the six properties offer attractive investment and development opportunities for individuals and the private sector in the Kingdom – whether for development or as an investment. The properties are located in Manama, Qudaibiya, Bu Quwah (Al Buhair), Jidhafs, A’ali, and Madinat Hamad, with areas ranging between 464 square meters and 12,000 square meters.

This online auction continues a series of successful auctions organized by Mazad in cooperation with Arabian Auction, having achieved ongoing success with a variety of assets. Arabian Auction operates according to the highest standards and regulations in auction organization, featuring a user-friendly registration and participation process, as well as transparent, fair, and competitive bidding.

Talal Al Arifi, CEO of Mazad, pointed out that the auction is open to anyone interested in bidding on and acquiring these properties, which are being placed on the market for the first time as an initiative by Edamah to achieve sustainable development goals. He highlighted that the online auction process for Edamah’s properties upholds superior standards of transparency, fairness, and competition, providing equal opportunities for all investors, real estate companies, developers, and individual bidders. There is no limit on the number of properties bidders can pursue or purchase.

Once launched, the auction can be followed in real time via Arabian Auction’s official website or through their mobile application. Prospective bidders must register to participate, and a deposit of 10% of the bidding threshold is required, which can be provided by a certified check, bank deposit, or bank transfer. Following a successful bid, an invoice will be issued for full payment, and the process of transferring property ownership will commence.

This article is translated and not the actual content.