Online sale through Emart portal to take place during Cityscape
Dubai Land Department (DLD) has announced that it will be conducting a new e-auction during Cityscape 2014. The event, which is being conducted through Emart, the department's online real estate market portal, will be one of DLD's major activities at the international property exhibition, which takes place on September 21-23 at Dubai World Trade Centre.
"All DLD auctions that we organise through our Emart online tool seek to achieve a number of objectives," said Sultan Al Akraf, Senior Manager, Registration Services Department, DLD. "One of the main aims is to reach investors from every continent by introducing convenient investment opportunities to them without them having to leave their home countries. A second goal is to establish standards of transparency and clarity with online applications, while a third is to showcase the unique services available for Dubai's real estate market," he added.
DLD's Emart auction will be open from September 21-24 and offer seven properties that include apartment units, land plots and villa complexes. The Emart portal will facilitate the inclusion of all details relating to each unit, such as location, plot number, total area and initial value for the start of bidding.
Emart was developed by Dubai Land Department to showcase real estate units for sale and rent, providing full transparency of the procedures in the process. Its bidding element is aimed at encouraging competitiveness to determine fair value for the properties. Since the launch of the Emart smart platform in November last year, 33 properties have been sold for a total value of AED 284,375,389.
DLD says that its auctions contribute to elevating the performance of Dubai's real estate sector by transferring its activities to new spaces. The department states that Emart is working to transform Dubai into a real estate smart city by providing clients with new opportunities to buy, sell and lease property with ease. Transactions can be conducted through the portal with clarity and transparency, irrespective of where the investor is located. Emart's ultimate aim is to achieve the Dubai government's aim of promoting the emirate as a globally attractive environment for real estate investment.
"Emart plays an important role as a safe and reliable platform to ensure the rights of all parties. It facilitates the accurate and transparent display of information that takes into account the regulations and laws provided by DLD. It enables investors to purchase real estate via auction or instantly lease property after perusing its details online," added Al Akraf.