GoDubai
  
  
  
  
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

 
  Share

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 11566 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
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
NARS Erdem SS19 Beauty Report
Diana Arno Expands Online Shopping to Middle East
Defying Age With Skin Republic's Gold and Platinum Face Masks
The Future Is Here
Roberto Cavalli's Exclusive Duo of Fragrances
FOREO To Attend TFWA: the World's Largest Travel Retail Show
Lacoste.12.12 Collection
Trevor Sorbie Range Relaunches in the UAE
Honor Set to Go Beyond Limits With the Launch of Honor 8x
Dubai Parks and Resorts Celebrates Saudi National Day
The Mummies of Dubai Give Their Kids a Preppy Style Makeover
O Boticário Opens in Dubai its First Amphora Store outside Brazil Come Join...
New GUESS Handbags for FW18
Carl F. Bucherer Celebrates Debut of Its Online Boutique on Jd.Com Launch of Lim...
Pamper yourself at Perfumery & Co this month, at The Dubai Mall
GROHE Smart Home: The App-Controlled Water Security System
Ministry of Human Resources and Emiratisation, Huawei and Honor launch ICT Compe...
Huawei Deepens Cooperation with Duisburg to Transform Germany's Industrial Hear...
Le Meridien Dubai Hotel & Conference Centre's Restaurant Promotions- October
Al-Futtaim ACE launches its stylish new Outdoor collection
Tips & Toes Hits the Big 3-5!
Hyperloop Transportation Technologies, Partners, and Government Stakeholders Mov...
William Collection by Hugo Boss
du Wins Smart Cities Award at the Telecoms World Middle East 2018
Eberhard & Co. Scafograf 100 For Elegant Lady
Al-Futtaim Toyota swoops another win at the Filipino Times Awards
Dubai Design Week continues to grow, cementing Dubai as the design capital of t...
Consonni Wraps Up La Vuelta a Espana With a Seventh Place Finish for UAE Team Em...
Tata Communications launches a specialised cyber security lab at Shanmugha Arts,...
WWE® Crown Jewel Set for November 2 in Saudi Arabia
New Homologations for Pirelli Tyres
The Ferrari Monza SP1 and SP2 unveiled – the first models in a new concept of li...
Abu Dhabi wins bid to host 2022 ITU Grand Final in world first
Akamai Unveils Solutions at IBC 2018 Designed to Mitigate the Challenges and Cos...
Cadillac XT4 Delivers Dynamic Driving Experience
du Opens New Business Centre in DIFC for Enterprise Customers
2018 FW in style at Zippy
Dubai Festival City Mall Celebrates KSA National Day with Special Imagine Show
Volunteers from the UAE join hands with the community in Tasset Peulh village in...
Fidu Properties unveils second office in Dubai; eyes expansion in UAE
The Dubai Business Women Council meets with the UN Assistant Secretary-General t...
Gitex Shopper Introduces Xperience Zones to Ramp Up Region's Largest Technology ...
American Dream: a Capsule Collection Celebrating Guess' Iconic Heritage!
New Online Butcher and Smokehouse CarniStore Will Get Your Meat-Sweats Going
Mobility MEA becomes the first approved Android zero-touch enrollment partner fo...
Huawei becomes one of the first multi-national technology companies to register ...
Introducing the Autumn Winter 18 Poetic Collections
His Highness Sheikh Ahmed bin Saeed Al Maktoum receives the President and Vice C...
IYNC and the UAE Discuss the Way Forward for Global Nuclear Energy at IAEA Gener...
Free ECG and consultation with specialist cardiologist for UAE residents ahead o...