Manama: The Ministry of Municipalities and Agriculture has signed a memorandum of understanding (MoU) with the Bahrain Real Estate Investment Company (Edamah), the real estate arm of Bahrain Mumtalakat Holding Company, to develop the Manama Central Market site. The agreement was formalized by Wael bin Nasser Al Mubarak, Minister of Municipalities Affairs and Agriculture, and Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat and Chairman of Edamah.
According to Bahrain News Agency, the MoU aims to conduct a detailed study to maximise the site's investment and commercial potential, leveraging its strategic location in the centre of Manama. This partnership supports the ministry's goal to better manage its real estate assets, enhance financial returns, and contribute to sustainable urban development and economic growth.
Officials emphasized Edamah's expertise in development and investment as crucial to realizing the site's potential. This collaboration is expected to create promising opportunities that align with Bahrain's broader development plans.