GDID to hold first auction for noncore properties this month
The Gauteng Department of Infrastructure Development (GDID) will, this month, begin disposing of 413 noncore residential and strategic properties that are owned by the department.
Addressing journalists at a media briefing in Johannesburg, Gauteng Infrastructure Development MEC Jacob Mamabolo noted that 17 of the first batch of properties, including the official residence of the provincial premier, would be auctioned off between November 28 and December 5.
He highlighted that no government official would be allowed to participate in the auction.
“The province has opted for an online auction instead of a traditional one where buyers are gathered under one roof and the property is sold within a matter of minutes,” Mamabola said.
He pointed out that the online auction process included provision for an Internet-based platform for a predetermined period of time, with each lot sequentially closing at a given time.
“We are convinced the online auction will provide for a transparent, auditable, convenient and competitive asset disposal process.”
Auctioneering house Tirhani will manage the process and potential buyers are encouraged to register on the auctioneer’s website before the official opening of the auction.
“The online auction will enable buyers to bid against each other with the system acting as an invisible auctioneer and regulating bid increments. It will also prevent collusion among bidders,” Mamabola said.
He stated that the disposal process would be done in a transparent, accountable and fair manner.
“We are of the decision that the disposal of these properties will not only save the province upkeep costs, such as maintenance, rates and taxes, security and devaluation through wear and tear, but will also raise much needed additional resources to fund Gauteng’s priority programmes,” he said.
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