(PRWEB) November 10, 2005
Dubai Property Auctions was showcased at the 2005 Bentley International Property Awards held in London this week, where it won the five star Bentley motors award for best worldwide property portal.
The gala dinner and award ceremony was held on Friday, November 4 at the Marriott Grosvenor Square Hotel, where real estate professionals from around the world gathered to honor the highest achievements in the real estate industry.
Speaking at the awards, Shamrez Shaikh, VP, Operations said, 'This is the first time we have entered the Bentley awards. We feel honored to have been recognized as the best real estate portal worldwide, in just the first year of the project's operation. The success of this pilot project has lead us to take it to the next level'. The online trading platform has unique features that allow users around the world to buy, sell and research information on demand, for properties in Dubai. 'It has been a great start for this project, with many smooth transactions closing through the system. We are very excited about the response and looking forward to rolling out some very novel features over the next few weeks' added Zeeshan Shaikh, VP, Creative Development.
Launched in January 2005 in response to the immense demand for freehold properties in Dubai, Dubaipropertyauctions.com is a project developed by Atlantis Marketing, a Shaikh Holdings company. It began by running real-time, online auctions for properties in Dubai and has recently introduced the ‘offer’ system. Through the offer system, buyers and sellers from around the world can interact directly to negotiate a price. Purchasers then send funds to a solicitor’s escrow account in Dubai who coordinate with buyer and seller to set an appointment for the property transfer. Funds are released by the solicitors to the seller only when property rights are signed over to the buyer. In this way, purchasers have the protection and security of a normal real estate transaction, while having the flexibility of trading with a global audience.
The project focuses on providing quality information on demand allowing people to research and purchase property without setting foot in Dubai. It provides customized information for each property. This includes a detailed property description, pricing, all inclusive payment schedule, e-brochures, 3D videos, amenity details and more. Potential buyers are able to view the property’s overall location in Dubai using the Dubai Locator™ tool, and even view the specific apartment building or villa plot using the Property Locator™ tool.
Following the success of http://www.dubaipropertyauctions.com, Shaikh Holdings plans to expand its reach and replicate the model regionally under the gulfpropertyauctions.com name. It is also currently in negotiations to implement the trading model in other major property markets worldwide.