Business | Property
Value of Dubai land transactions tops Dh2.3b
Most valuable of deals was a plot on Shaikh Zayed Road that was sold for Dh65.752m
- Staff Report
- Published: 01:24 March 7, 2008
Dubai: The total value of land transactions in Dubai last week reached Dh2.34 billion, of which sales exceeded Dh1.51 billion, Dubai's Land Department said in a statement.
The total value of mortgages during the period was Dh833.53 million.
A total of 100 sales were registered with the department by the end of the week, the most valuable of which was a plot in Shaikh Zayed Road that sold for Dh65.752 million. The next two most prominent sales saw a second plot in Emirates Hills-2 acquired for the sum of Dh64.505 million and another in Sport City for Dh51.73848 million
The Al Ruwayyah area was the most active in terms of the week's sales, with some 20 transactions. Ranches followed it with 10 sales.
Al Ruwayyah recorded the highest turnover by value, at Dh168.58 million, followed by the Al Warqa-1 area, Dh111.49 million, and Palm Jumeirah area, Dh108.85 million.
The biggest area sold was the 2986426.5 sq ft in the Al Ruwayyah area, which went for Dh16.98 million. A 135,849.23 square foot plot in the Al Aweer-2 Area was acquired for Dhs11.2 million.
Thirty-eight mortgages worth Dh610.7 million were registered, the most significant of which as the Dhs200 million for an area at Sport City.
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