Dubai's repossessed mortgage properties to be auctioned soon
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Dubai's repossessed mortgage properties to be auctioned soon

Dubai's repossessed mortgage properties to be auctioned soon

Al Tamimi law firm has said that the Dubai Land Department (DLD) could soon announce the date for its first public auction of repossessed mortgage properties, Emirates Business has reported. "We anticipate the first public auction to be held in a month's time. However, we are not sure since it is summer time," Jody Waugh, partner at the law firm told the daily. "We have received the first evaluation from the DLD on a property that will be publicly auctioned. It is an official evaluation from the Land Department. So, I believe we are close to our first public auction under the mortgage law."

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