Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments


Sharjah, Sunday December 18, 2017:  The Souq Al Haraj Showroom Public Auction, organized by the Emirates Auction, managed to raise Dh3.825 million for Sharjah Asset Management, the Investment arm of the Government of Sharjah, by leasing 12 showrooms.

The auction was held at the Sharjah Golf and Shooting Club on Saturday, and was attended by more than 500 traders and investors. Three showrooms in particular attracted the attention of a large segment of traders and investors that participated in the auction, where they were leased for Dh 1.47 million.

The auction, which was the first of its kind to be held on Souq Al Haraj showrooms in Sharjah, witnessed a fierce competition between traders hoping to lease one of the 12 showrooms that were being auctioned off. The 12 showrooms were located in the new headquarters of the Souq, and were varied in size and location.

Mr Ahmed Juma Al Musharrekh, Director of Souq Al Haraj in Sharjah, expressed his gratitude and appreciation to Sharjah Asset Management for the trust it placed in organizing the Souq Al Haraj Showroom Auction. He also praised the success of Emirates Auction in organizing the event in accordance with the highest standards.

Al Musharrekh stated that organizing the auction comes within the framework of the Souq's eagerness in strengthening its position as a leading vehicle trading site, and its position as the largest market of its kind in the Middle East region. He also stated that the auction is part of the Souq's efforts to raise its efficiency, develop its performance in a sustainable manner, and follow the best international practices in this field.

He added that the size of the participation in the auction and the level of competition for the showrooms reflected the importance of the market for a large segment of traders and businessmen, given the high returns of investment and rewards that the traders gain in leasing the showrooms. He added that the returns and rewards for investors are due to the Souq's leading services, advantages and facilities, convenient procedures and attractive environment for both showroom owners and customers.

HE Omar Matar Al Mannaei, Executive Director of Emirates Auction, thanked Sharjah Asset Management and the management of Souq Al Haraj in Sharjah for trusting Emirates Auction with organizing the Souq Al Haraj Showroom Auction, which concluded with a new success added to the company's record. He also stressed the eagerness of Emirates Auction to provide the best services to companies that work with them and achieve the best returns for them in line with their aspirations.

Al Mannaei stated that Emirates Auction is beyond proud to have organized this event for Sharjah Asset Management, which is one of the leading real estate asset management companies with a global investment portfolio. He also stated that this step reflects the management's eagerness to use modern technology and systems in asset management, in accordance to the best global practices and highest standards of excellence and innovation. He added that this step also provides car dealers with opportunities to obtain the appropriate showroom space through public auctions that are organized with the highest degree of transparency, and dynamic and equal opportunities between traders and investors in this sector.

He noted that the high level of interaction during the auction revealed the desire of traders and investors in the showrooms offered, which is a clear indication of the importance of the market and its role in the automotive trade sector in the country and the region.

Posted by : GoDubai Editorial Team
Viewed 9113 times
Posted on : Monday, December 18, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Abu Dhabi Quality and Conformity Council Expands Scope of Beautician Conformity Scheme
Next Story : Mashreq Bank recognized for global mobile banking excellence
Email this article Print this article

Share this article with your friends and followers


Back to Top  
Most Viewed Press Release posted in the last 7 days
Bhima Jewellers Wows Women on International Women's Day
Foreo Declares 2018 the Year of Confidence
Built for the Way We Communicate Today: Samsung Galaxy S9 and S9+ Launches in the UAE
Filorga Launches Lift Range
The Ultimate Mother's Day Beauty and Wellness Gifts
The Sheet Mask Trend
Top Perfume Picks for Mother's Day @ Glambeaute.com
Rise and Shine with Sophie's
SMCCU opens its doors for SIKKA Art Fair
Nissan's e-POWER technology wins environmental award
Mother's Day Offer from Blush N Curls Salon
Max launches its Inaugural Abaya Collection
It's Mother's Day!
The Global Sensation UFO Lands in Europe at Cosmoprof 2018
Al-Futtaim Honda launches 10th generation Honda Accord
“The Night of Italian Design” at D3 Attracts Design Enthusiasts
LULU Organic Food Activation
Drink yourself to looking younger with Skinade
Iconic milkshake brand Keventers to open 30 outlets across the UAE in 2018
Discover the MISA Cho Gong Jin Oriental and Herbal Skincare Range from Missha
An Open Secret - The new Flying Regulator Open Gear provides deep insights
The V-Tox Facial by Linda Meredith Skincare
Corporate Power Dressing redefined at Kachins Signature
UAE Jiu-jitsu Federation® Conducted the Official Weigh-ins of Abu Dhabi Grand Sl...
Reading Champions Declared at 10th Emirates Airline Festival of Literature
Preps for the Fazza Championships for Shooting Saktoun Riffle begin on March 11
A Meet & Greet with the Pakistani Cricket Sensation Umar Akmal
Own your pores like a Bioré Princess!
The only line you'll love in your face – your perfect jawline!
Cadillac Alghanim kicks off world-class opportunity in Kuwait
OMEGA Launches its NATO Strap “Pop-Up Boutique” in Paris
GMC sets a new GUINNESS WORLD RECORDS title in partnership with Abu Dhabi Police
Milan-san Remo a Dream Target as Uae Team Emirates Announce Super-seven Line Up
The Dubai Mall unveils Fashion Avenue; the region's most prestigious luxury des...
ba&sh's Spring-Summer collection 2018
Awqaf and Minors Affairs Foundation Attracts 1200 Emirati Job Seekers at Careers...
Beyond Beauty partners with Platinum Records to position teen sensation Hala Al ...
The Spring Summer 18 Womenswear Collection
Raymond Weil introduces the Maestro Blues
Johnson's® Baby Launches Its First Semi-therapeutic Product Range
Elina Svitolina takes New York by storm and wins it all!
UAE's first ICU Symposium attracts over 150 of GCCs top healthcare professionals
Arabian Healthcare Group and Dignity Health USA team up to expand world-class cl...
GUESS Unveils the Kids Spring 2018 Collection and Campaign
Sanofi introduces innovative therapy to help address high unmet medical needs of...
Velvet Caviar meets Roger Dubuis Diva power
10th Emirates Airline Festival of Literature Ends with a Bang!
PCFC, GDRFA conclude Successful Marriage program ahead of 7th Mass Wedding