Manama:Gulf Air Group has entered into a strategic partnership with Mazad, Bahrain's digital auction platform, to exclusively manage auctions of the Group's movable assets. This agreement was announced during the Gateway Gulf 2026 event.
According to Bahrain News Agency, this collaboration is a part of Gulf Air Group's transformation programme, aimed at enhancing governance and transparency in asset management. The partnership allows Gulf Air Group to leverage Mazad's digital platform to reach potential buyers, increase competition for sales, and improve financial returns from asset auctions.
Under the terms of the partnership, Gulf Air Group will select the assets for sale and set the sale conditions, while Mazad will handle advertising and auction management through its platform. This arrangement ensures that sales are conducted with clear governance, providing bidders with the necessary information to participate on an equal footing.
Mazad's experience in auction management, since its inception in 2017, is expected to benefit Gulf Air Group. The auctions will not be limited to Bahrain, as they may be marketed to regional buyers based on demand. Fahad Mohamed Almudhahka, Chief Corporate Affairs Officer of Gulf Air Group, emphasized the importance of governance and transparency, stating that the partnership promotes fair competition and optimal returns.
Nezar Habib, CEO of Mazad, highlighted the specialized nature of Gulf Air Group's assets and Mazad's role in reaching the right buyers. The partnership aims to maximize asset market value and expand buyer opportunities across Bahrain and the region through transparent auctions.
This initiative underscores the commitment of Gulf Air Group and Mazad to enhance asset value and governance, contributing to the Kingdom of Bahrain's sustainable economic growth.