UAE to get largest auction house in region for industrial plants, construction equipment

New facility to cover over 43,000 sqm for 360-degree auction handling

The Euro Auctions project will provide customers with facilities that can supplement their business need through a renowned facility.”

The UAE will soon establish the region’s largest auction house for industrial plants, construction equipment and agricultural machinery in the Khalifa Economic Zones Abu Dhabi – Kezad Group, the integrated trade, logistics, and industrial hub of Abu Dhabi.

Kezad Group signed a lease agreement with Euro Auctions Middle East, a subsidiary of the Euro Auctions Group, to establish the 43,000-square-metre facility. The facility will provide 360-degree auction handling from transportation to minor repairs. Site operations are scheduled to commence in Q1 2023. By collaborating with Abu Dhabi Customs and Kezad Group, Euro Auctions will also have a proportion of the yard categorised as a bonded warehouse, offering import and export customers the same advantages as a free zone operation.

Increasingly popular option

With more companies selling well-maintained and newer machinery than ever, Euro Auctions reported that the average lot price at its most recent UAE auction increased by 63 per cent compared to similar events in 2019. As a result, auctions are expected to become an increasingly popular option for buyers and sellers. Auctions are a quick and efficient way to sell unused or surplus stock, with fast payouts enabling companies to reinvest capital into their business quickly. From a buyer perspective, it allows efficient use of their time when they can pick from a wide variety of equipment in one place.

Mohammad Al Khadar Al Ahmed, Chief Executive Officer, Kezad Group, said, “Auctions provide an important option for industrial concerns and manufacturers looking to expand their inventory, and this new auction house will contribute to the growth of this strategic sector.” Al Ahmed said, “The development of the Euro Auctions project will provide existing, and future customers with facilities that can supplement their business need through a renowned facility. It will also bring best-in-class practices to streamline storage and transportation while providing a transparent bidding process.”

Mohammad Al Khadar Al Ahmed | CEO, Kezad Group