The Dubai Land Department (DLD) has inked a deal with property auction firm Online Auction. The deal is expected to enrich the real estate sector’s activities and provide new competitive options that enhance investor confidence.
Online Auction will leverage its expertise in providing tools for real estate promotion and investment, which is expected to benefit the sector in general and the various parties including developers, owners, and investors, the statement said.
The agreement was signed by Sultan Butti bin Mejren, director general of DLD, and Ahmad Mustafa Ahli, owner of Online Auction.
“This type of agreement shows our constant efforts to strengthen relations with the private sector across various fields, especially as we believe that the private sector provides diverse services that will help us enhance investor confidence, ensuring they receive the best and fastest services to meet their expectations. At DLD, we work according to innovative standards to ensure customer happiness and achieve our vision to position Dubai as the world’s premier real estate destination and a byword for innovation, trust, and happiness,” said Bin Mejren.
According to a statement, Online Auction is said to rely on a series of simplified procedures for organising public and electronic auctions, in line with Dubai’s smart transformation and the directives of the wise leadership to enhance the competitiveness of the sector and keep abreast of global changes.
Ahli added, “Our company enjoys a long history and extensive experience in various activities related to organising and managing private property auctions, and we are keen to fully comply with the procedures set by DLD. Individuals and organisations can benefit from us with world-class services to achieve the results they are looking for thanks to the presence of specialised cadres and channels through which we can ensure the highest levels of success in the auctions we organise by attracting interested segments from the UAE and beyond. We will operate under the supervision and support of DLD, and in full compliance with the terms and conditions set forth in the agreement.”
Majid Saqr Al Marri, CEO of the Registration and Real Estate Services sector at DLD concluded, “Specialised auctions are considered as known promotional activities that can be used as part of our innovative solutions to promote real estate in the Emirate. We are confident that the services offered by Online Auction will help attract a wide range of investors who are looking to enter the real estate market with the utmost flexibility and minimum effort and time due to its long experience in this field.”