With warehouses and industrial parks continuing to be among investors’ first asset class choice, Bahrain Real Estate Investment Company (Edamah) has signed a 10-year lease agreement worth USD 7 million with Trident Warehousing for an 8,137 sq m facility at Sitra Industrial Park, Bahrain.
The deal will see Edamah working with Trident Warehousing and their business associate Hoover Circular Solutions, based in the Texas, to create a facility that is suitable for their technical and operational requirements for increased production.
Sitra Industrial Park includes a total of four existing facilities with two new covered facilities and dry storage plots for industrial, commercial, and logistical use. Edamah are keen to tailor its features to accommodate tenants’ requirements. The Park is to be expanded with an additional 8,000 sqm of industrial space with construction about to commence on the site.
DEMAND FOR INDUSTRIAL FACILITIES
“We noticed that corporate actors in the sector were seeking more flexible partnerships with regard to their industrial needs and not solely warehousing units in the Kingdom, and the Sitra Industrial Park will help serve this demand. Most particularly we are looking at expanding this facility in a manner that specifically caters to individual needs of tenants by offering them customised solutions to their Logistical, manufacturing, commercial and industrial requirements,” Edamah CEO Amin Al Arrayed said.
“Edamah continues to contribute to the economy of the Kingdom through projects that are aligned with Mumtalakat’s investment strategy. The 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," said Edamah Chairman and Mumtalakat CEO Khalid Al Rumaihi.
Manufacturing remains a key component of Bahrain’s economic recovery plan due to the rise in demand for industrial facilities.
In order to accommodate the increasing demand in the industrial sector, the 87,382-sq-m industrial park is expected to expand to include an additional 8,000 sq m.
A major player in the real estate 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.