Friday, 21 December 2012

Auction at DLD couldn’t get any bidders for Dubai Marina apartment



An apartment was sold in an auction at the Dubai Land Department (DLD) by the owner and the news have it that it was sold at quite a handsome price by the sellers. The auction took place on Wednesday.
The Downtown Dubai apartment, located in Reehan 1 was sold for AED 1.39 million and covers an area of 76.74 sq. m. AED 700,000 was set as the base price but the auction went high enough that the owner went home with heavy pockets.
In other auctions one signature villa was sold from The Palm Jumeirah Islands and it was worth AED 21.1 million while the agents quote the prices of villas of similar kind at around 25 million. One apartment was sold in Jumeirah Beach Residence at a price of AED 1.54 million while an apartment in Al Dhafrah, Tannyah, Third was sold for AED 1.12 million and this one covered an area of 101.7 square meters.
Unfortunately a 192.88 square meter apartment from Dubai Marina did not get any bidders. The apartment is located in The Zen tower and the base price was set to be AED 1.76 million but couldn’t attract the bidders’ attention. Sources told Bayut that the DLD is planning to hold the final auction of this year on the 26th of December.

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