Edamah signs USD 7 million lease agreement with Trident Warehousing
Edamah, the real estate arm of the Kingdom’s sovereign wealth fund, Bahrain Mumtalakat Holding Company “Mumtalakat”, signed a ten-year lease agreement valued at USD 7 million with Trident Warehousing for an 8,137 sqm facility at Sitra Industrial Park. The agreement was signed with the support of the Bahrain Economic Development Board.
Edamah will be working with Trident Warehousing WLL and their business associate Hoover Circular Solutions, to create a facility that is suitable for their technical and operational requirements in order to increase their efficiency and production capability and support the delivery of the supply chain to their customers. Hoover C.S. is a leading provider of sustainable packaging and fleet management solutions based in Texas, USA.
Edamah Chairman & Mumtalakat CEO, H.E. Khalid Al Rumaihi said: “Edamah continues to contribute to the economy of the Kingdom through projects that are aligned with Mumtalakat’s investment strategy. This industrial park will play an important role in the development of both the industrial and logistics sectors in Bahrain which will reflect in the economic growth of the country.”
Edamah CEO, Amin Al Arrayed said, “We are pleased to sign this agreement with Trident Warehousing to facilitate their operations in Bahrain, where they will be well-placed to take advantage of Bahrain’s strategic location and world-class logistics infrastructure.”
Ahmed Sultan, Executive Director of the Economic Development Board (EDB’s) Manufacturing, Transport & Logistics Sector said, “Manufacturing is a key component of Bahrain’s economic recovery plan. There is an increasing demand for industrial facilities, and we are happy to have supported Edamah and Trident in this partnership.”
Sitra Industrial Park includes a number of facilities for industrial, commercial, and logistical use, with the option of tailoring facilities according to tenants’ requirements. The 87,382 sqm park will initially expand to include an additional 8,000 sqm in the near future to accommodate the increasing demand in this industrial sector.
Edamah’s diverse portfolio spans retail, hospitality, commercial and industrial properties across the Kingdom. It aims to drive sustainable economic growth while also creating benefits for local communities.