Deal signed to organise realty auctions in Dubai

DUBAI / WAM

The Dubai Land Department (DLD) signed a cooperation agreement with Emirates Auction, the leading company in managing public and online auctions in the Middle East, to organise and manage selective real estate auctions under the remit of the DLD for individuals and institutions.
The agreement provides for a strategic partnership to develop the real estate sector in Dubai and enhance its competitiveness. Under the partnership, Emirates Auction will organise and manage all the selective real estate auctions under the remit of the DLD for individuals, institutions, banks and real estate developers, through online public auctions or auction houses.
The agreement is the first-of-its-kind in terms of its diversity and inclusiveness of all categories from individuals and enterprises to courts. It was signed by Sultan Butti bin Mejren, Director-General of the DLD, and Abdullah Matar Al Mannai, Chairman and Managing Director of Emirates Auction.
Bin Mejren said, “This agreement is part of the DLD’s plan and endeavour to strengthen and develop its services, so as to aid Dubai’s journey towards building a smart and diversified future. Most importantly, this agreement will pave the way for enriching the experience of our customers, diversifying the auction preferences, improving its mechanisms, simplifying its procedures and achieving the highest revenue.” The event was also attended by Majid Al Marri, CEO of the Commercial Registration Sector at DLD, and a number of officials from both sides.
Al Marri said, “We, at DLD, are always keen on attracting investors from various economic sectors, in accordance with the wise vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in terms of consolidating Dubai’s stature as a safe and rewarding destination for investors.”