Emirates Auction, Awqaf and Minors Affairs

Within less than two years of the partnership between Awqaf and Minors Affairs Foundation, AMAF, and Emirates Auction, 230 assets owned by minors under the foundation’s care have been sold for a total value of AED58.5 million.

The assets that have been auctioned include properties worth more than AED50 million, as well as distinguished number plates worth AED4 million, vehicles estimated at AED2 million, and other shares and assets valued at AED710,148.

As a preliminary step, these assets were carefully evaluated by Emirates Auction to preserve the rights of their owners and achieve a fair selling price.

Tayeb Al-Rais, Secretary-General of AMAF, said, "We always take the utmost care of the assets of minors through preserving and investing them to help meet the future demands of their owners and achieve financial stability for our minors.

Zainab Jumaa Al Tamimi, Deputy Director of Minors Affairs at AMAF, said, "Our commendable partnership with Emirates Auction has resulted in selling these assets in public auctions while exempting them from the company’s selling fees. Our collaboration with Emirates Auction articulates our shared vision of contributing to charity work and helping minors attain their full financial rights in accordance with the UAE’s laws and regulations."

Abdullah Matar Al Mannai, Executive Director of Emirates Auction, said, "Since our collaboration began in 2014, we have organised a series of auctions to sell assets and properties owned by the foundation’s minors. We have ensured a careful evaluation of these assets since their revenues are credited directly to the minors. This initiative is one of the best forms of support given to minors in our society."

Established in 2004, Emirates Auction is a leading auction company that is specialised in organising and managing public and online auctions, whose revenues support charitable and humanitarian projects as well as underprivileged social segments in the UAE and abroad.