Business | Construction
Dubai land deals top Dh2.15 billion in one week
The total value of land transactions in Dubai last week peaked at Dh2.15 billion, the Dubai Land Department said on Thursday.
- Staff Report
- Published: 15:09 August 7, 2008
Dubai: The total value of land transactions in Dubai last week peaked at Dh2.15 billion, the Dubai Land Department said on Thursday.
A total of 87 sales transactions were registered with the department by the end of the week, the most valuable of which was a plot in Al Manara that was sold for Dh32.5 million.
A plot in Al Barsha First was acquired for Dh27.82416 million and another in Al Qusais Industrial Fifth for Dh27.568013 million
The Emirates Hills Third area was the most active in terms of the week's sales, with 23 transactions. Ranches followed with 13 sales.
During the period, the Palm Jumeirah recorded the highest turnover by value, at Dh118.9 million, followed by the Emirates Hills Third area, Dh75.3 million, and Jabal Ali area, Dh71.15 million.
The biggest area sold was the 31,543.96-square-foot lot in Jabal Ali that went for Dh7.1 million. Another 30,041.53-square-foot plot in the area was acquired for Dh7.03 million.
During the period under review, 72 mortgages worth Dh835.2 million were registered, the most significant of which cost Dh150 million for an area at Al Ruwayyah.
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