Dh3.59b worth of Dubai land sales recorded in July
Some Dh3.59 billion in land and property transactions were recorded the Dubai Land Department for the month of July, as well as 269 mortgage transactions worth Dh2.07 billion and 37 donations of land and property valued at Dh406.22 million.
Sales during the month were recorded across 54 districts in the emirate with a total area sold of 2.39 million square feet. One outstanding cash sale during the month was for a staggering Dh1.11 billion, according to Gulf News.
An additional 285 transactions were also recorded by the Land Department involving the sale of 1.36 million square feet of land for a total of Dh2.89 billion.
The Al Murqabat area was the busiest area in Dubai for sales during the month, accounting for 11.24 per cent of July's total sales. Second in terms of the month's sales was the area of Karama, which accounted for nearly 10.29 per cent if July's total sales. In all during the month, an estimated Dh11 million worth of sales were registered by the Land Department.
Prices paid per square foot ranged from Dh497.82 and Dh5,330 per square foot, with Dh5,020 per square foot being the average price paid.