Wednesday, July 07, 2010

Dubai Properties announces land auctions

Leading developer Dubai Properties, an arm of Dubai Holding, has announced auction of three beach-side plots of lands next month, it has been revealed.

According to the company, the auction would take place on 29th August 2010.

The auction is being held for leasing out of three beach club plots by the company at the Jumeirah Beach Residence Community on 29th August, following a pre-qualification process.

The interested companies are required to possess atleast five years experience in the hospitality sector, and should be a registered company in the UAE.

Dubai World had recently signed deal with core creditors to restructure debt of $23.5bn (Dh.86bn).

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