Dubai land transactions hit Dh1.48b for the week

Dubai: The total value of land transactions in Dubai this week reached Dh1.48 billion. Of this amount, sales stood at Dh996.78 million, the Land Department has revealed.

The total value of mortgages during the same period stood at Dh486.63 million. A total of 66 sale transactions were registered with the department by the end of the week, the most valuable of which was a plot in Dubai Industrial City-1 that sold for Dh17.26 million.

The Arabian Ranches area was the most active in terms of the week's sales, with 14 transactions. Dubai Industrial City was in second place with seven transactions.

During the period under review, 84 mortgages worth Dh169.58 million were registered. The most significant of these was one in Al Warsan-1 for Dh21.24 million. It was followed by one in Jebel Ali for Dh21 million.

There were 485 sales transactions for villas and apartments in freehold areas. Of these, 441, worth Dh404.18 million, were for apartments and 44, worth Dh69.99 million, were for villas.