The MoU stipulates that the Company will organise auctions for the SDPW and sell at electronic public auction. The memorandum aims to develop a mechanism for electronic offering, which will attract a larger number of companies to submit bids that are compatible with the financial values of the assets to be auctioned.
SDPW held a press conference during which the memorandum of understanding was signed by Engineer Ali bin Shaheen Al Suwaidi, Executive Council Member and Chairman of SDPW, and Omar Matar Al Mannai, Executive Director of Emirates Auction, in the presence of the Director of Contracts Department Fatima Hassan and a number of media representatives.
Under the MoU, Emirates Auctions will invest its expertise and experience to speed up and simplify the auction procedures through various methods and mechanisms using the latest innovative systems and methods that guarantee the highest standards of safety, thus selling and transferring assets, and securing the highest returns for SDPW.
Engineer Ali bin Shaheen Al Suwaidi explained that the 3-year agreement aims to strengthen cooperation frameworks between both sides in the field of organising electronic auctions for SDPW, in the context of the Department’s endeavour to provide the best services according to the best standards.
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