Highest bidders to unlock doors of traditional villas
MUNICIPALITY TO AUCTION JUMEIRAH ROAD PROPERTIES
Dubai Municipality will hold an auction for the first time to lease out villas and shops it built on Jumeirah Road.
“A total of 12 commercial villas and 12 shops are up for grabs and anyone is allowed to participate in the bidding,” said Salah Al Qaiwani, Head of the Specialised Contracts and Investment Section at Dubai Municipality. He said the Municipality had built villas mixing traditional and modern designs as part of the Jumeirah Road Beautification Project.
The road has already been expanded from four to six lanes and it has become a posh street in Dubai housing a large number of restaurants, shops, clinics, shopping centres, beauty salons and clubs.
“The municipality’s villas are located at different locations on the main Jumeirah Road stretching from Union House to Burj Al Arab,” he said.
Al Qaiwani said the premises will be given to the person who makes the highest bid. For example, the rent will be fixed at a certain amount. Bidding will start at Dh50,000 and the highest bidder will be given the premises. This amount will be taken by the municipality — over and above the rent. The rent is between Dh170 per square foot and Dh230 per square foot, which is cheaper than the current market value on Jumeirah Road.
There will be no rent increase for the next five years. The sizes of the villas are between 3500
“These villas have been built after demolishing old shops and houses owned by UAE nationals. We have invested money but they are still in the names of the Emiratis. We will share the income with them and hand the houses over to them completely after recovering our investment.”
Salah Al Qaiwani
Head of Specialised Contracts and Investment Section, Dubai Municipality
square feet to 5000 square feet. The auction will be held on April 18 and 19 at Dubai Municipality Club in Jaddaf area.
“They can also be used for residential purposes but there is a high demand for commercial villas on this road,” he said. Al Qai- wani said the construction of villas is also part of the municipality’s projects of investments and privatisation activities.
“These villas have been built after demolishing old shops and houses owned by UAE nationals. We have invested money but they are still in the name of UAE nationals. We will share the income with them and hand the houses over to them completely after recovering our investment,” he said.
He said the municipality would soon come up with more of such housing projects. “We are holding an auction to ensure transparency in leasing these buildings,” he said.
The municipality also offers historical houses for rent in the Bastakiya area where more than 100 historical buildings have been restored and have been given on rent for commercial and residential purposes.
Al Qaiwani said the Municipality also offers restaurants, shops and entertainment facilities in public parks to improve facilities.