Dubai Properties, part of Dubai Holding, plans to hold an auction for three beach-side plots of land on 29th of August, an advertisement published yesterday showed.
“Dubai Properties Group intends to hold an auction for the lease of three beach club plots at Jumeirah Beach Residence Community on August 29 following a pre-qualification process,” the advert said.
Interested companies are asked to have at least five years experience in the hospitality sector and be a registered company within the UAE.
Considering the current state of the property market, bids were likely to be low according analysts.
