Business | Property
Land deals in Dubai hit Dh423.92m in two days
The total value of land transactions in Dubai in the last two days peaked at Dh423.92 million, of which sales exceeded Dh86 million, while the total value of mortgages during the period was Dh337.69 million, according to the Land Department.
- Staff Report
- Published: 00:00 July 23, 2006
Dubai: The total value of land transactions in Dubai in the last two days peaked at Dh423.92 million, of which sales exceeded Dh86 million, while the total value of mortgages during the period was Dh337.69 million, according to the Land Department.
The Mirdif area was the most active in terms of the two days' sales, with some five transactions. Al Barsha Second followed it with one sale.
During the period, Marsa Dubai recorded the highest turnover by value, at Dh31.32 million, followed by the Emirates Hills Second area, Dh21.28 million, and Nad Al Sheba area, Dh13.31 million.
The biggest area sold was 59,105.6 square feet in the Emirates Hills Second area, which went for Dh21.28 million. A 53,222.06 square foot plot in the Nad Al Sheba area was acquired for Dh13.31 million, while 47,454 square feet in Marsa Dubai was disposed of for Dh31.32 million.
During the period under review, 104 mortgages worth Dh271.28 million were registered, the most significant of which was Dh150 million for an area at Emirates Hills Second. There was another deal for Dh51 million on an area in Al Muraqabat.
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