The first day of Dubai Municipality’s public auction of used car showrooms has fetched AED 5o.63 million for 22 outlets as enthusiastic traders competed with each other for renting a hot spot in the prestigious Auto Market in Warsan.

Representatives of nearly 150 used car dealers flocked to the DM staff Club in Al Garhood to participate in the auction which will cover the remaining 52 more showrooms.

The auctioned showrooms ranged in area from 3,280 to 6,000 square feet with the lowest annual rent being AED 65,300 and the highest AED 119,000.

The Auto Market, established in 1999 with some 130 showrooms for buying, selling and registering pre-owned vehicles under one roof, is one of Dubai’s major landmarks that attract a large number of dealers & customers.

The auction is being done for a total of 74 showrooms of the second phase of the market with the aim of giving equal opportunities for the local traders in owning a showroom there.

This entry was posted on Monday, February 5th, 2007 at 5:35 am and is filed under Auctions, Worldwide, Dealers, Gulf Regions. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.