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19 March 2024

12-12-12 boost for Nakheel auction today?

Published
By Parag Deulgaonkar

Strategic move or pure coincidence? 

Whatever be the case, Nakheel, Dubai-based master developer, will be auctioning villa plots in Jumeirah Islands on the 12-12-12.

Bids at the auction start at Dh350 per square foot with bid increments set at Dh50,000 per plot.

Buyers will have to pay a non-refundable deposit of Dh500,000, Nakheel says.

Developer offers a one-year payment plan: 50 per cent payable upon booking and 50 per cent after 12 months.

But, is the date likely to affect the sales. 

Well, in India, astrologers have gone on record saying, “12-12-12 is an auspicious to buy land or property.” 

In fact, many Indians still buy properties or invest in land on auspicious days, which they believe brings prosperity and good luck. 

Indians have been among the top buyers of property in Dubai for some years now and did buy 2,153 properties worth Dh3.75 billion in the first half of 2012. 

Now, let’s see if that holds true for today and for land plots?

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