Manama Realty wins car park project
Manama, March 24, 2014
Bahrain Real Estate Investment (Edamah) has signed up Manama Realty Company for the construction of a multistorey car park project in Diplomatic Area.
Manama Realty will execute the agreement on a lease, develop and operate basis, reported the Gulf Daily News, our sister publication.
Edamah, a wholly-owned subsidiary of Bahrain Mumtalakat Holding Company, said the agreement is part of its strategy to develop and manage the government's real estate properties and lands in a sustainable manner.
The project will provide a much-needed boost to the number of parking spaces available in the Diplomatic Area and will reduce traffic congestion through the addition of secure parking space for more than 1,000 vehicles, said the GDN report.
"The Diplomatic Area is one of the most congested areas in Bahrain due to its central location and the presence of numerous ministries, government bodies and companies," Mumtalakat chief executive Mahmood Al Kooheji said.
"Edamah has undertaken the task of alleviating some of this congestion by providing a convenient parking solution for the area by developing this multistorey car park in one of Bahrain's main business centres," he added.
Manama Realty's Dr Abdulla Talib said the company was confident that the completion of the development will help alleviate regular traffic congestion in the area.-TradeArabia News Service