Mubasher: The sovereign wealth fund of Bahrain has renewed a land lease contract with logistics company Trafco Group, according to the Bahrain News Agency (BNA).
This contract renewal is expected to enhance the kingdom’s food security and economic diversification agenda.
BNA added that the deal will see the wealth fund’s real estate investment arm, Edamah, provide property from its Trafco projects portfolio.
Edamah’s CEO Amin Al Arrayed has signed the lease contract on Monday with Trafco’s chairman Ibrahim Zainal.
“Edamah is fully committed to supporting Trafco in its initiatives to develop the food and beverage industry in Bahrain, which plays a key role in advancing the kingdom’s economic diversification and food security agenda,” Edamah’s CEO said.
Trafco’s chairman stated, “The collaboration and assistance we have received from Edamah has enhanced our ability to provide logistical services and reinforce Trafco Group’s position in the local food and beverage industry, which is one of the most important sectors for the citizens and residents of Bahrain.”
It is noteworthy that projects by Edamah include the mixed-use waterfront development Sa’ada and the newly opened a multi-storey carpark, named The Terminal, in Adliya.
According to BNA, Edamah will also focus on the industrial, leisure, and entertainment sectors.