Awqaf and Minors’ Affairs Foundation and Emirates Auction Organize Auctions Worth AED 58.5 Million

The Awqaf and Minors’ Affairs Foundation in Dubai and Emirates Auction, a company specialized in hosting, organizing, and managing all types of public auctions, have, in less than two years, conducted auctions totaling over AED 58.5 million. These auctions facilitated the sale of 230 assets and properties owned by minors under the foundation’s care.

The auctions included real estate sold for AED 50,951,975, distinctive vehicle plate numbers for AED 4,071,800, various vehicles for AED 2,819,600, and additional shares and properties for AED 710,148. All these assets underwent a meticulous valuation process by Emirates Auction to safeguard the rights of the minors who own them and ensure fair prices upon sale.

Tayeb Abdulrahman Al Rais, Secretary-General of the Awqaf and Minors’ Affairs Foundation in Dubai, emphasized the foundation’s commitment to managing, preserving, and investing the minors’ funds to meet their current and future needs. This ensures they enjoy a stable life that provides security and stability, enabling them to pursue their aspirations, contribute actively to society, and participate in building the nation’s future.

Appreciation

Zainab Juma Al Tamimi, Deputy Director of the Minors’ Affairs Department, praised the significant cooperation from Emirates Auction with the foundation in completing the sale of assets and properties through public auctions. She highlighted the company’s initiative to waive all sales fees typically charged for these auctions, as a gesture of support for charitable efforts. This ensures minors receive their full financial rights in accordance with Sharia and legal principles, providing them with the means for a dignified life.

Significance

Abdulla Matar Al Mannai, Chairman and Managing Director of Emirates Auction, stated: “Charitable and humanitarian work holds immense importance in our operations, stemming from our social responsibility and commitment to supporting the UAE community, in line with the wise leadership’s directives to continue the path of humanitarian giving and social solidarity. This is to enable various segments of society to attain a dignified life and stand by those deserving of support.” Al Mannai noted that the partnership with the Awqaf and Minors’ Affairs Foundation, ongoing since 2014, has facilitated the organization of dozens of auctions dedicated to the properties and assets owned by minors under the foundation’s care.

This collaboration has required heightened attention from Emirates Auction in the valuation and sale of these assets, as the proceeds go directly to the minors and their guardians. Al Mannai described this as one of the noblest forms of kindness and compassion that can be extended to this group.

This article is translated and not the original content.