By Parag Deulgaonkar www.emirates247.com
A two-bed apartment in Burj Khalifa, the world’s tallest tower, has come up for auction with the reserve price starting at Dh5.625 million.
The total area of the apartment is 2,008 square feet and has been listed on the Emirates Auction website. The minimum bid increment is set at Dh50,000.
The auction closes at 6 pm UAE time on February 3. At the time of filing this report (07.25 am), there were no bids for the property.
Emirates Auction sells these properties on the “auction order” of Dubai Court, the company website states.
Current online listings for two beds range between Dh7 million and Dh8.9 million. Prices in the tower vary as per the view and floor.
Market sources say this is likely to be the first time that a foreclosed property in Burj Khalifa has come up for auction. More info