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FINANCIAL NEWS
Bahrain Car Parks seeks expansion
24 Mar 2011
(MENAFN) The Bahrain Car Parks Company chairman, Mahmood Mahmood Hussain, submitted a proposal to the government to build more car parks as the company is cuurently only permitted to manage parks, not build them, reported Gulf Daily News.
Hussein said that the company needs to expand its business into the development of parking areas. He said that currently, the company manages parking areas in Manama and the Bahrain International Airport, but these were constructed by the government, not the company.
He said that the company had sent previous proposals to the government, but the company did not receive a response or expression of interest.
Hussain added that the company generates revenue from the car parking management business in addition to renting at the main car parks building. It is worth noting that the company announced distributing a 12 percent dividend for the year of 2010.
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