Dubai Land Department has announced that eMart, its online real estate portal and the world’s first hi-tech property hub of its kind, will conduct its third and biggest auction on February 9th. The auction features five high-end commercial and residential properties worth a staggering total of AED190 million.
Sultan Al Akraf, Senior Director of Real Estate Registration at Dubai Land Department explained: “This is eMart’s third auction in less than two months, which shows the phenomenal demand for this service and eMart’s growing reputation which is built on trust. The first auction achieved sales of about AED74 million, which was an outstanding achievement considering the portal had just been launched. However for our third auction we fully expect to raise the bar even higher and beat the previous records, epitomizing our continued success in attracting high-end investors. All this will help to position Dubai as the world’s premier destination for exceptional properties.”
The auction organizers attribute the sky-high level of demand to the world-class standards of transparency set by the portal. This credibility has reassured both buyers and sellers, while the inclusiveness has made the process open to all. Watertight procedures have been put into place to guarantee the security of all transactions, thus opening a gateway through which diverse participants can pursue their investment goals.
Dubai Land Department anticipates an even greater level of participation from real estate players and stakeholders, many of whom will be motivated by the impressive figures achieved in the last two auctions.
The department has designated a space in one of its buildings for auctioneers and interested parties, equipped with hi-tech screens and tablet devices, and staffed by professionals who are ready to assist bidders and train them in using the online auctioning system.
The user-friendly portal offers maximum simplicity with minimum processes, conveniently providing a complete description of the properties and their main attractions. This is supported by photographs, location maps and relevant details. Participants have complimented the high level of flexibility and trust, with its transparency and security consistently being cited as the main attractions of eMart.