Business | Property
Dubai land transactions exceed Dh2.2b
The total value of land transactions in Dubai reached Dh2.24 billion last week, of which sales exceeded Dh922.92 million, the Land Department said in a statement.
- Staff Report
- Published: 22:48 July 2, 2009
Dubai: The total value of land transactions in Dubai reached Dh2.24 billion last week, of which sales exceeded Dh922.92 million, the Land Department said in a statement.
The total value of mortgages during the period was Dh1.31 billion.
A total of 57 sale transactions were registered with the Land Department at the end of the week, the most valuable of which was a plot in Al Barsha-1 that was sold for Dh31.5028 million.
The next two most prominent sales were of a plot on Emirates Hills-3 acquired for Dh26 million, and another, also on Emirates Hills-3, for Dh24.5 million.
The Ranches area was the most active in terms of the week's sales, with 15 transactions. Emirates Hills-3 followed with nine.
Emirates Hills-3 recorded the highest turnover by value, at Dh80.69 million, followed by the Ranches area, Dh44.28 million, and Palm Jumeirah area, Dh39.4 million.
The biggest area sold was a 235,486 square foot plot in Al Khawaneej-2, which went for Dh9.42 million.
During the period, 151 mortgages worth Dh1152.71 million were registered, topped by a Dh239.18 million transaction at Al Barshaa South-2 and a Dh235 million deal in Al Qusais-1.
There were 461 transactions registered in freehold areas, of which 429 were for apartments valued at Dh456.6 million and 32 for villas at Dh61.57 million.
A total of 64 mortgages were registered for villas and apartments during the period.
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