The first online auction on eMart, which is organised by the Dubai Land Department, witnessed fierce competition between bidders over the 17 residential and commercial properties on offer. Observers attributed the momentum to the innovative style of auction that features the comprehensive detailing of each property, including photographs, maps, and various other aspects that made all the necessary information available to bidders.
The portal received over 1,100 visits in the early hours of the first day of bidding, reflecting the high interest among real estate investors who gathered in the lounge arranged by Dubai Land Department. Several large screens set up to display the live auction and to brief guests on the simple and new interface they can use online to put in their bids.
As His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department, described it: “With the launch of eMart auctions, we are now one step further, in line with our strategic plan, to be at complete harmony with the directives of the government in transition to a smart city, through the dedication to a culture of smart and transparent real estate operations that lays the foundations for fair competition that acts as a notable motivator for international investment in Dubai.”
He added: “The Department made sure to arrange a private room, set up with big screens and presentation boards that are meant to help build awareness and knowledge among all stakeholders who are interested in becoming familiar with the online interface, alongside educating users on the rules and conditions for auction participants.”
Many consider Dubai to have set new standards in real estate operations, with eMart establishing a different era recognised for its transparency and protection of stakeholder rights, actively raising awareness and educating stakeholders on the various features and benefits of participating in eMart auctions, which are open to all.
