Home Real Estate First-ever rental auction in Dubai: M77’s all units booked within two weeks

First-ever rental auction in Dubai: M77’s all units booked within two weeks

by Staff Reporter
Alphabeta Properties M77 residential project

Alphabeta Properties has changed the real estate market with the astounding success of M77, the first-ever rental auction property in Dubai.

In a groundbreaking achievement, all units on the rental auction in M77 were fully booked within a mere two weeks of the rental auction, establishing a new benchmark in the Dubai real estate landscape.

70% bidders opt for ‘rent now’ option at M77 building

Despite the competitive market, an impressive 70% of bidders opted for the “rent now” option, securing their residences at M77 at a premium of 60% above the market value. This resounding success demonstrates the effectiveness of Alphabeta Properties’ innovative approach to resident selection.

Abdulla Shaibani, CEO of Alphabeta Properties, expressed his delight at the unprecedented achievement, stating, “The rental auction was a massive success but also exceeded expectations. M77 has redefined the dynamics of absolute living in Dubai, and the overwhelming response showcases the trust and confidence that our bidders had in Alphabeta Properties.”

While the units are fully booked, Alphabeta Properties recognizes the continued interest in M77 and encourages prospective tenants to reach out. A waiting list will be maintained to accommodate any cancellations, providing an opportunity for those who missed the initial booking phase.

Alphabeta Properties remains committed to pioneering innovative solutions in Dubai’s growing real estate market, and the success of M77 reinforces its position as an upcoming leader in property development.

tanvir@dubainewsweek.com

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