Partnership Between Dubai Land Department and Emirates Auction for Organizing and Managing Real Estate Auctions

The agreement was signed at the DLD headquarters by Sultan Butti bin Mejren, Director General of Dubai Land Department, and Abdullah Al Mannaei, Chairman and Managing Director of Emirates Auction, in the presence of Majid Al Marri, CEO of the Commercial Registration Sector at DLD, along with several officials from both parties.

Under the agreement, a strategic partnership will be formed to develop Dubai’s real estate sector and enhance its competitiveness. Emirates Auction—well-known for its successful track record in organizing and managing judicial real estate auctions across the UAE—will assume responsibility for organizing and managing all optional real estate auctions. This includes auctions falling under DLD procedures and authority, as well as those for individuals, companies, banks, and property developers. Auctions may be conducted electronically or through in-person sales events.

These auctions will follow globally recognized procedures and steps that leverage Emirates Auction’s extensive expertise in real estate auctions in the Middle East. Through this partnership, Emirates Auction will provide companies and individuals with opportunities to list properties in its auctions, marking a significant step forward in the organization of real estate auctions in Dubai.

Guinness World Record

During the signing ceremony, Emirates Auction presented DLD with a Guinness World Record plaque that the company received for the most expensive property sold in an online auction, valued at AED 385 million in October 2016. Emirates Auction organizes more than 200 live and online auctions annually, at an average rate of three auctions per week.

This article has been translated from Arabic and is not the original content.