Gulf News

Highest bidders to unlock doors of traditiona­l villas

MUNICIPALI­TY TO AUCTION JUMEIRAH ROAD PROPERTIES

- BY ASHFAQ AHMED Staff Reporter

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.

Fixed rent

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.

 ?? Press Release ?? Dubai Municipali­ty has built villas for lease at various locations on the main Jumeirah Road. The premises will go to the highest bidder.
Press Release Dubai Municipali­ty has built villas for lease at various locations on the main Jumeirah Road. The premises will go to the highest bidder.

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