- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:22 05:41 12:19 15:46 18:52 20:11
Buyers are snapping up foreclosed properties in Dubai, with five out of the seven residential apartments listed in first two public auctions sold, Emirates 24|7 can reveal.
All the three residential apartments for sale at the second public auction held on Wednesday sold for between eight and 30 per cent higher than reserved price.
A South Ridge 1 apartment (1,060 square feet) Downtown Burj, listed for Dh900,000, was sold for Dh1.18 million, 30 per cent higher than the reserved price, while the another apartment again in South Ridge 1 (915 sq ft) went for Dh960,000, 20 per cent higher than the base price.
The third unit to go under hammer was a Greens apartment (748 square feet) in Al Thannyah, Al Arta Building. It was purchased for Dh650,000 (Reserve price: Dh600,000).
The only property that wasn’t sold was a commercial unit in Al Barsha fourth.
On March 19, this website reported that a Springs villa and an apartment in Jumeirah Beach Residence (JBR) were among the properties sold at the first public auction of foreclosed properties in Dubai this year.
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