7 Residential Units auctioned and sold in DLD
20/11/2012
A few days ago, the Dubai Land Department (DLD) auctioned at least four residential apartments at the premium between 12 per cent and 86 per cent over their base prices. All of them are actually located in Dubai Marina Development.
The first apartment which is a non-leased unit in Marina View Tower A was sold for AED1.68 million, a 20 per cent over its original base price of AED1.14 million; while the second one which is also located in the same premises that has a total of 84 square meters was sold for AED1.34 million, a 67.5 per cent higher than its reserved price of AED800, 000.
Then, the third property that has approximately 121 square meters and is located in Madison Residency, Al Thannyah First was also bought for AED1.12 million, which is higher than its original base price of AED1 million; while the last one that has the bigger property size of 145 square meters and is located in Al Fairooz Building was purchased for AED2.42 million, 86 per cent higher than its reserved price of AED1.3 million.
Based on the report, among the buyers of the first three above-mentioned apartments were Emiratis; while the last property was just bought by one of the high-profile Indian Investor. So, as they were the latest auctioned residential properties, they were added to another three apartments which were also auctioned in Dubai Land Department. They are as follows: an apartment in the Le Reve Tower which is located in Dubai Marina was sold for AED34.7 million; one unit in South Ridge 1, Downtown Dubai, which was purchased for AED3.16 million; and the last one that has a total of 138 square meters and is located in Al Arta 2, Al Thannyah Third was sold for AED1.5 million.
The first apartment which is a non-leased unit in Marina View Tower A was sold for AED1.68 million, a 20 per cent over its original base price of AED1.14 million; while the second one which is also located in the same premises that has a total of 84 square meters was sold for AED1.34 million, a 67.5 per cent higher than its reserved price of AED800, 000.
Then, the third property that has approximately 121 square meters and is located in Madison Residency, Al Thannyah First was also bought for AED1.12 million, which is higher than its original base price of AED1 million; while the last one that has the bigger property size of 145 square meters and is located in Al Fairooz Building was purchased for AED2.42 million, 86 per cent higher than its reserved price of AED1.3 million.
Based on the report, among the buyers of the first three above-mentioned apartments were Emiratis; while the last property was just bought by one of the high-profile Indian Investor. So, as they were the latest auctioned residential properties, they were added to another three apartments which were also auctioned in Dubai Land Department. They are as follows: an apartment in the Le Reve Tower which is located in Dubai Marina was sold for AED34.7 million; one unit in South Ridge 1, Downtown Dubai, which was purchased for AED3.16 million; and the last one that has a total of 138 square meters and is located in Al Arta 2, Al Thannyah Third was sold for AED1.5 million.
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