Land transactions in Dubai top a whopping Dh966.51m in a day

Dubai: The total value of land transactions in Dubai on Monday rose nearly Dh1 billion to Dh966.51 million, of which sales exceeded Dh239.65 million, according to Dubai's Land Department.

The total value of mortgages during the period was Dh726.86 million, a statement said.

A total of 15 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Emirates Hills-3 that was sold for Dh24 million. The next two most prominent sales saw a second plot in Nad Al Sheba acquired for the sum of Dh21.301 million and another in Al Safa-1 for Dh10 million.

The Emirates Hills Second area was the most active in terms of the day's sales, with some 3 transactions. Emirates Hills-1 followed it with two sales.

Emirates Hills-3 recorded the highest turnover by value, at Dh26 million, followed by the Nad Al Sheba area at Dh21.3 million, and Emirates Hills-2 area at Dh10.83 million.

The biggest area sold was 47,336.83 square feet in the Nad Al Sheba area, which went for Dh21.3 million. A 34,072.83 square foot plot in the Jebel Ali Area was acquired for Dh8.28 million, while 33,456 square feet of Sport City was disposed of for Dh8.44 million. During the period under review 10 mortgages worth Dh685.03 million were registered, the most significant of which was Dh650 million for an area at Marsa, Dubai. There was another for Dh8.54 million on an area in Umm Suqueim First.

Apartments and villas in freehold areas witnessed registration of 178 sales transaction out of which 167 were for apartments for a total of Dh85.27 million and 11 for villas at a total sum of Dh23.68 million.