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Dubai's Asteco plans online property auctions

MENAFN - - 16/08/2012


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(MENAFN) Dubai-based real estate consultant Asteco Property Management unveiled plans to launch an online property auction website, targeting more international investors, Arabian Business reported.

The company said it has agreed with US-based LFC International Real Estate Brokerage to offer the service.

Dubai property market saw USD5.98 billion worth of transactions during the first half of 2012, according to data from the Dubai Land Department (DLD).

Indian investors topped foreign investors' deals in the emirate, purchasing 2,153 properties valued at USD1 billion, followed by Pakistanis with a total of 1,814 properties at USD466.125 million, followed by British investors, Iranian and Russian investors.

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