|05 February, 2019

Umm Al Qaiwain signs a cooperation agreement with Emirates Auction

The cooperation agreement states that the company is responsible for organizing exclusive auctions on assets owned by all the departments that fall under the Emirate's Government.

During signing the agreement

During signing the agreement

UAE :

The Government of Umm Al Qaiwain has signed a cooperation agreement with Emirates Auction, the leading company in the field of management and organization of public and online auctions in the Middle East. The cooperation agreement states that the company is responsible for organizing exclusive auctions on assets owned by all the departments that fall under the Emirate’s Government.

The agreement was recently signed at the headquarters of the Executive Council of Umm Al Qaiwain, in the presence of Sheikh Saif bin Rashid Al Mu’alla, Chairman of the Economic Development Department of Umm Al Qaiwain; and Sheikh Abdullah bin Saud bin Rashid Al Mualla, Chairman of the Department of Finance in Umm Al Qaiwain. The agreement aims to strengthen the cooperation between the two sides in the field of organizing online auctions, which will contribute to reducing the time it takes to complete procedures for the transfer of assets, as well as ensuring the highest rate of returns. These returns are then invested in developing services and launching projects that serve the community, while also taking into account the standards of environmental conservation.

The cooperation agreement was signed by both HE Khalifa Saeed Ghanim, Director-General of the Department of Finance in Umm Al Qaiwain; and HE Abdulla M. AlMannaei, Chairman and Managing Director of Emirates Auction; in the presence of a number of directors and officials from the Department and the company.

HE Khalifa Saeed Ghanim, Director-General of the Department of Finance in Umm Al Qaiwain, stated that the cooperation with Emirates Auction is part of the Department's efforts to build and develop systems that aim to improve performance and speed up transactions in order to achieve the desired objectives.

Ghanim added that the agreement stems from the Department's keenness to implement its vision of adopting the latest technologies and best practices in the government of Umm Al Qaiwain, as well as achieving its mission to adopt advanced systems that keep pace with the UAE's progress, in addition to ensuring that the Department’s strategic objective to improve government performance is accomplished in accordance with the highest standards of excellence.

HE Abdulla M. AlMannaei, Chairman and Managing Director of Emirates Auction, stated that the company is keen to harness its expertise and capabilities in order to serve the goals and objectives of the Department in accordance to the agreement signed between the two sides, which ensures the quick sale of assets, as well as helping to save time, effort and costs.

Under the agreement, the two sides agreed to strengthen their existing partnership by allowing Emirates Auction to hold exclusive online auctions on assets owned by all the departments of the Government of Umm Al Qaiwain, which comes in light of the great success that the company has previously managed to achieve for its partners, whom consist of government departments from all around the country.

Emirates Auction has created an online market with more than 1.3 million bidders, which prompted many institutions in the UAE to capitalize on this dynamic market by strengthening their growing partnership with the company. This online market has made it easier to sell any type of asset in the shortest amount of time and at the highest prices.

-Ends-

© Press Release 2019

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