The State-owned Corporation of Arzaq received the four-story Asia Commercial Market from a contracted individual.
Through effective management of its existing properties and commercial markets, the State-owned Corporation of Arzaq has been able to take significant and impactful steps toward increasing revenue levels and providing employment opportunities for the citizens.
Mawlawi Sayyid Nik Mohammad Moatasem, Head of Commercial Affairs at the State-owned Corporation of Arzaq, stated that making effective use of the company’s properties and available resources not only increases the company’s revenue but also provides people with suitable opportunities for work, business, and welfare.
He added that, in the early years of the previous regime, as a result of the efforts of the State-owned Corporation of Arzaq employees, the company’s commercial market had been constructed as a participatory agreement and given to a contracted individual.
Mawlawi Moatasem said that the Asia Commercial Market was officially handed over to the Property Directorate of the company yesterday under the supervision of joint institutional committees from the contracted individual.
He further stated that from now on, the full responsibility for collecting revenues from the market shopkeepers will lie with the State-owned Corporation of Arzaq Property and Financial Directorates, a process that will play an important role in increasing the company’s revenue and improving the organization of its financial affairs.
According to the Property Directorate, this four-story commercial market, built on 960 square meters of land, contains electronics shops on the first floor, electronics repair centers on the second and third floors, and a hotel on the fourth floor.
It is noteworthy that the Asia Commercial Market has around 180 shops and booths, which are currently being used for trade and business purposes, providing employment opportunities for dozens of citizens.
