The Challenge
Directorate of Town Planning and Survey (DTPS) in Sharjah, UAE, tends frequently to offer investment plots to leas for commercial use.
The manual process is based on first-price sealed-bid auctions when all bidding parties make a single bid and the single highest bidder wins, and pays what they bid. The main drawback that bids are not openly viewable or announced as opposed to the competitive nature, which is generated by public bids.
The Solution
Microsystems LLC (MSC) developed a Process of investment plots by offering DTPS customers to submit bids, take bids, and then lease the plot to the highest bidder.
Auction submitted by individuals, Companies (Contractors or Consultants) and governments through online portal or mobile application.
During auction, all subscribed Users are able to increase the lease amount of the plot and the system will generate the largest amount after closing the session of auction.
Finally, Auction System is integrated with current online service to initiate an investment transaction for the winner to complete the process of leasing plot.
The Results
Online Auction System broke down and removed the physical limitations of traditional auctions such as geography, presence, time, space, and a small target audience.
