Abu Dhabi, January 25, 2020: Abu Dhabi Municipality and Emirates Auction, the auction house in the field of management and organization of public and smart auctions in the Middle East, have recently signed two agreements to enhance their cooperation, improve their services and invest in the municipality’s assets according to the best practices.
H.E Saif Badr Al Qubaisi, Director General of Abu Dhabi Municipality, and HE Abdulla M. Al Mannaei, Chairman and Managing Director of Emirates Auction and Emirates Parking Company, inked the two agreements at the municipality’s headquarters. Representatives from both entities were present.
Under the first agreement, Emirates Auction shall manage the auction of leasing assets belonging to the municipality over a period of two years.
Emirates Auction shall accordingly organise, manage and hold smart auctions to rent and develop real estate units belonging to the municipality, such as: shops, exhibitions and kiosks, etc.
Emirates Auction shall also bear the responsibility of advertising and marketing these assets (among other necessary procedures and preparations need to be taken).
Meanwhile, the second agreement grants Emirates Parking Company the privilege of managing the impound yard in Al Mafraq, Abu Dhabi.
Stimulating the investment environment
Speaking on the occasion, Al Qubaisi said: “Signing the agreements with Emirates Auction comes in line with Abu Dhabi government’s vision aiming to enhance cooperation with the private sector, especially to advance the emirate’s comprehensive development, launch new projects and invest in public facilities,”.
“We are doing our best to create a stimulating and attractive investment atmosphere that boosts the growth rate in the emirate in accordance with our government’s vision and plans,” he added.
“In this sense, Abu Dhabi Municipality is very keen to bolster its collaboration with the private sector out of its firm believe that being in agreement with other entities will further advance the economy and upgrade services nationwide,” Al Qubaisi further said.
He underlined that the agreements will improve work mechanisms and simplify procedures followed in the municipality. “They will undoubtedly result in sophisticated and smart services that would strengthen the municipality’s efforts being made to apply the highest international standards, keep pace with the rapid developments in the Emirate and enhance the level of services provided to all residents of Abu Dhabi,” noted Al Qubaisi.
For his part, Al Mannaei expressed his thanks and appreciation to Abu Dhabi Municipality for the trust given to Emirates Auction to handle the lease of investment assets and manage the impound yard in Al Mafraq.
“Our partnership with the municipality is yet another qualitive addition to our work and further highlights our reputation and distinguished performance. We will certainly step up to the plate and go above and beyond the municipality and customers’ expectations, in addition to guaranteeing rewarding returns for all stakeholders” Al Mannaei said.
He reaffirmed that smart auctions, unlike traditional auctioning methods, attract significantly higher number of bidders across the region. Today, Emirates Auction boasts more than 15 years of experience in the field of organising and managing smart auctions and this granted us a stronger presence in the market and helped increase the number of bidders day by day. Our expertise has contributed to streamlining auctioning procedures, rationalising costs and enhancing the level of transparency and governance, which made us the leading partner for many government entities in this field, Al Mannaei added.