MANAMA: Bahrain Real Estate Investment Company (Edamah), the real estate arm of Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the kingdom, is planning to acquire a stake in Bahrain Car Parks Company.
It signed a memorandum of understanding (MoU) which will allow both companies to complete legal procedures and evaluation process for Edamah to acquire a stake in Bahrain Car Parks Company, in exchange for the transfer of operational utilisation rights for a period of 99 years in one of the parking buildings owned by the company .