Edamah, the real estate arm of Bahrain's sovereign wealth fund Mumtalakat Holding, has broken ground on its new Sitra Logistics Park, a world class warehousing facility, which will serve the kingdom’s logistics industry.
The 87,382 sqm Sitra Logistics Park includes a number of facilities for industrial, commercial, and logistical use, which can be tailored according to tenants’ requirements.
Among the Park’s biggest clients is Trident Warehousing, which signed a 10-year lease agreement valued at $7 million for an 8,137 sqm facility.
Edamah said it will be working with Trident Warehousing and their business associate Hoover Circular Solutions, a leading provider of sustainable packaging and fleet management solutions based in Texas, US, to create a facility that meets their technical and operational requirements.
The ceremony was attended by senior officials from Edamah; Trident Warehousing; Hoover Circular Solutions; Economic Development Board (EDB); financing partner Khaleeji Commercial Bank (KHCB); project contractor Poullaides Construction Company; lead consultant Ansari Engineering Services; and cost consultants DG Jones.
Edamah CEO Amin Al Arrayed said: "We are excited to officially begin work on a project that is of national strategic importance and aligned with our goal to ‘build for Bahrain’ through the careful selection of projects that contribute to the economy and respond to market needs. The Park will support the kingdom’s growing logistics industry, as well as attract foreign investment and create jobs."
"With excellent road, air, and sea connectivity to the rest of GCC, along with dedicated facilities such as this Park, Bahrain is rapidly evolving into a highly integrated logistics hub," stated Al Arrayed.
"Sitra Logistics Park has been designed as a one-stop shop for all logistical needs, with office spaces, warehouses, and distribution centre to enhance production capacities," he added.
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.-TradeArabia News Service
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