A rental auction in Dubai is gaining traction as the city’s property market continues to thrive.
Alphabeta Properties introduced the ‘M77’ project located at Meydan Avenue, inviting bids from individuals interested in renting units within the building. Being the first ‘rental auction property’ in Dubai, all units were fully booked within just two weeks of the bidding process, as reported by the developer.
Approximately 70% of bidders chose the ‘rent now’ option, securing their units at a premium of 60% above the market value.
