Dubai's First Online Auction for Exclusive Living
Alphabeta Properties Introduces Innovative Auction System for Selecting Residents in M77 Luxury Apartments
Alphabeta Properties, a prominent Dubai property development and management company, is breaking new ground in the UAE real estate sector by adopting an innovative auction system to select tenants for its latest residential project, M77, located on Meydan Avenue. Unlike traditional practices where tenants typically choose the buildings they wish to reside in, this approach represents a paradigm shift in the region's real estate landscape.
The residential project M77, which features 77 apartments of varying sizes (1, 2, and 3 bedrooms), offers a unique and unconventional rental procedure. Alphabeta Properties has initiated an invite-only online auction to determine the future residents of M77, marking a distinct concept in Dubai's real estate market.
The luxury building provides stunning views of Downtown Dubai and the iconic Burj Khalifa. It boasts an array of amenities, including a full-floor gymnasium, a 50-meter Olympic-sized pool, and a cutting-edge smart keyless entry system.
To ensure transparency and fairness, Alphabeta Properties has established rental caps for the units. The rental rates vary based on the apartment size, with 1-bedroom units ranging between Dh105,000 to Dh150,000, covering sizes from 900 sqft to 1,650 sqft. Similarly, the annual rent for 2-bedroom units, ranging from 1,800 sqft to 2,000 sqft, falls between Dh215,000 to Dh260,000. Meanwhile, 3-bedroom units are priced between Dh250,000 to Dh350,000 per annum.
The online auction on the Alphabeta Properties platform commenced on January 21 and is expected to run for two weeks. Interested candidates are required to register, and those shortlisted will receive invitations to participate in the auction and personally visit the properties.
This groundbreaking initiative not only transforms the tenant selection process but also adds an element of exclusivity and engagement for potential residents. The M77 project aims to redefine the renting experience by introducing a forward-thinking approach that aligns with the evolving preferences of the real estate market in Dubai. As the online auction unfolds, it marks a significant moment in the industry, setting the stage for potential future developments in how residents are chosen for premium properties in the city.
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By- Sahiba Suri
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