Land deals in Dubai hit Dh6.6b in September

Dubai: The total value of land transactions in Dubai crossed Dh6.6 billion in September, according to the Land Department.

There were a total of 289 cash sales during the month and these were worth Dh4.91 billion, 261 mortgage transactions worth Dh2.07 billion, and 25 donations of land and property worth Dh850.23 million.

The 289 transactions registered as sales by the Land Department in September were spread across 50 districts in Dubai. The total area sold was 6.07 million square feet.

There were 486 transactions involving the sale of 4.22 million square feet of open spaces for a total of Dh6.60 billion. There were 297 transactions involving the sale of 1.85 million square feet of built-up or developed land.

Mirdiff accounted for 22.95 per cent of the month's total sales. Dh1.12 billion was received from 47 sales of an area spanning 1.09 million square feet.

Al Jadaf accounted for 16.6 per cent of the total sales. Dh816.42 million was received from 49 sales of a total area of 725,530 square feet. Prices ranged between Dh1,094 and Dh2,250.05 per square foot.

Emirates Hills-2 accounted for 9.96 per cent of the total sales. Two sales of 58,500 square feet generated Dh49 million. Prices ranged between Dh818.53 and 10,370.04 per square foot.

Jebel Ali Industrial district accounted for 9.34 per cent of the sales. Dh459.33 million was raised from 21 sales of an area of 428,830 square feet. Prices ranged between Dh1,000 and 1,200 per square foot.

Land transactions in Marsa Dubai accounted for 6.1 per cent of the total sales. An area of 59,550 square feet was sold for Dh30 million. Prices ranged between Dh5,037.28 to Dh5,037.28 per square foot.