UAE's Mazad Auction House held its first property auction in Dubai, selling off 20 apartments in Dubai Properties-developed Executive Towers in The Business Bay. According to Khaleej Times,some 400 prospective purchasers bid for a mixture of garden, terrace and penthouse apartments, which all sold.
"We are extremely pleased with both the successful start of Mazad operations and the speed with which the discerning public responded and snapped up the offered luxury apartments in an hour," said Hashim Al Dabal, Chief Executive Officer of Dubai Properties.
