First repossessed properties set to be auctioned off at current prices in Dubai next month

Thread starter Nicholas Wallwork
Start date Jun 24, 2010

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Nicholas Wallwork

Editor-in-Chief

Staff member

Premium Member

Jun 24, 2010

The first public auction of repossessed properties in Dubai is due to take place next month and officials are*also clamping down on illegally occupied buildings.

Dubai's Land Department has begun evaluating repossessed properties ready for the first auction of its kind*in the emirate where real estate prices have fallen by up to 50%.

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