Land transactions in Dubai reported
The total value of land transactions in Dubai last week peaked at Dhs620.48 millions , of which sales exceeded Dhs390 million. The total value of mortgages during the period was Dhs230.66 million, according to the Land Department.
A total of 49 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Al Barsha First that was sold for Dhs50 million. The next two most prominent sales saw a second plot in Wadi Al Amardi acquired for the sum of Dhs48.071104 million and another in Al Nahda Second for Dhs30 million.
The Mirdif area was the most active in terms of the week's sales, with some 4 transactions. Al Barsha Third followed it with 3 sales.
During the period, Wadi Al Amardi recorded the highest turnover by value, at Dhs65.51 million, followed by the Al Barsha First area, Dhs50 million, and Al Suq Al Kabeer area, Dhs34.18 million.
The biggest area sold was the 522512 sq ft in the Wadi Al Amardi area, which went for Dhs48.07 million. A 249080 sq ft plot in the Wadi Al Amardi Area was acquired for Dhs17.44 million, while 50000 sq ft of Al Nahda Second was disposed of for Dhs30 million.
During the period under review 50 mortgages worth Dhs177.06 million were registered, the most significant of which as the Dhs51.3 million for an area at Trade Center First. There was another for Dhs40 million on an area in Al Barsha First.