Sale-by-Auction - Dubai Property Market

Dubai's maturing real estate prepares to roll out sale-by-auction
Kipp Report - Dubai,United Arab Emirates
... After all, if a car number plate can fetch five million dirhams ($1.36 million) then one can imagine what some would be willing to pay for a perfect plot to house a mixed-use development. ...Most of what stands at the Business Bay today is the result of plots auctioned off by Mazad in the winter of 2005, which it collected $272.3m from. ...Bushalat also stresses market performance. "The success of the auction highlights the confidence that international investors have in the sustainability of the Dubai property market."...