Mazad Launches New Digital Auction Platform

Manama, Aug. 7 (BNA): Mazad, a local portfolio company of Bahrain Mumtalakat Holding Company “Mumtalakat” mandated with overseeing the Kingdom of Bahrain’s public and electronic auctions, has announced the launch of its new digital auction platform “Mazad” on Android and iOS devices, as well as its refreshed website (Mazad.app).


The new digital auction platform is part of Mazad’s new strategy and corporate identity, which aims to create innovative solutions to support the company’s goals by enabling clients to purchase a variety of assets using the most advanced digital technologies and it will facilitate the acquisition of assets sold by various government agencies, such as license plates and real estate.


In addition, users will have complete access to all information and documents pertaining to assets for sale and it will allow bidders to complete all auction procedures electronically, from registration and insurance fees to the actual sale including paying the remaining balance and registering the assets online.


The new application encompasses an array of features including the ability to locate assets for sale using Google Maps, as well as an automated bidding feature that allows bidders to set their maximum bid price, after which the system will automatically bid on their behalf until the predetermined price is reached.


Mazad will incorporate new features in the platform which will include adding new auction categories, such as new unique car plate ranges and a variety of real estate opportunities.


Talal Al Araifi, Chief Executive Officer of Mazad, said: “We are excited to announce the launch of our new digital auction platform, which is in line with our new strategy, as we actively seek to stay at the forefront of innovation in today’s rapidly evolving digital landscape. Our goal is to provide seamless services that connect potential clients to our diverse range of auctions, ensuring a streamlined and convenient experience for all.”

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“We encourage all our clients and prospective bidders to download and register for our app, as it offers a wide array of features and delivers an unparalleled digital experience,” he added.


Mazad, which was launched in 2017 by Mumtalakat, coordinates and oversees public and digital auctions in the Kingdom of Bahrain. It organises and supervises public auctions of various categories of assets and has successfully organised a number of auctions in the Kingdom of Bahrain in accordance with international standards.

 






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