MANAMA: Bahrain Real Estate Investment Company (Edamah), the real-estate arm of Bahrain’s sovereign wealth fund, and logistics company Trafco Group have renewed a lease that will see Edamah provide land from its portfolio for Trafco projects.
The lease was signed by Edamah chief executive Amin Al Arrayed and Trafco chairman Ibrahim Zainal.
Edamah intends to extend its collaboration with Trafco Group by supporting its initiatives to develop the food and beverage industry in Bahrain.
“This agreement is in line with Edamah’s commitment to supporting vital projects, increasing the private sector’s contribution to the national economy, and advancing sustainable development, economic diversification and food security agenda,” said Mr Al Arrayed.
He highlighted the increasing importance of the private sector within the national economy, adding that the impressive growth of private enterprise in recent years has encouraged state investment companies to continue their investment pipelines.
The lease comes as Edamah embarks on a new strategy after the appointment of a new board of directors and chief executive.
Edamah projects include the Sa’ada waterfront development and the newly opened The Terminal in Adliya.
In addition, Edamah will also look at the industrial and leisure and entertainment sectors.
Mr Zainal said the collaboration and assistance received from Edamah has enhanced Trafco’s ability to provide logistical services and reinforce its position in the local food and beverage industry – one of the most important sectors for the citizens and residents of Bahrain.
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