On Thursday, the Bahrain-based auction platform of “Mumtalakat” holding, Mazad, announced a strategic partnership with Kanoo Real Estate, a subsidiary of the Yusuf bin Ahmed Kanoo group. This collaboration aims to expand Mazad’s asset share and strengthen its position as the leading auction platform in Bahrain and the Gulf region.
Under the partnership, Kanoo Real Estate will provide Mazad access to its diverse portfolio of high-value assets and equipment. This move is expected to significantly enhance the variety and quality of offerings available through Mazad’s auction services, catering to discerning buyers and investors both locally and regionally.
“We are thrilled to be partnering with Kanoo Real Estate, a parting of the Yusuf bin Ahmed Kanoo group, a pioneer in the regional business landscape,” said Talal Alaraifi, managing director of Mazad. “Their extensive asset and business portfolio will be invaluable as we continue to grow our network and bring even more exceptional offerings to discerning buyers and investors in Bahrain and beyond,” he added.
Talal expressed enthusiasm about the partnership, highlighting the valuable addition to Kanoo Real Estate’s extensive asset portfolio. He emphasised that the collaboration will bolster Mazad’s network and bring exceptional offerings to the market. Kanoo Real Estate’s chairman, Talal Fawzi Kanoo, and managing director, Mohamed Abdulelah Al Kooheji, echoed this sentiment. They noted that the partnership with Mazad will elevate the auction experience in Bahrain by offering top-tier assets through an innovative and user-friendly platform.
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