Value of land transactions in Dubai on Dec. 17

Published December 18th, 2005 - 07:39 GMT

The total value of land transactions in Dubai Saturday peaked at Dhs100.04 millions, of which sales exceeded Dhs30 million. The total value of mortgages during the period was Dhs69.9 million, according to the Land Department.

                                                                       

A total of 5 sale transactions were registered with the Department by the end of the day , the most valuable of which was a plot in Al Manara that was sold for Dhs14 million. The next two most prominent sales saw a second plot in Um Al Sheif acquired for the sum of Dhs11 million and another in Al Khawaneej First for Dhs2.45 million.

                                                                       

The Al Satwa area was the most active in terms of the day sales, with some 2 transactions. Al Khawaneej First followed it with one sale.

                                                                       

During  the period, Al Manara recorded the highest turnover by value, at Dhs14 million, followed by the Um Al Sheif area, Dhs11 million, and Al Satwa area, Dhs2.7 million.

                                                                       

The biggest area sold was the 20000 sq ft in the Al Khawaneej First area, which went for Dhs2.45 million. A 15000 sq ft plot in the Al Manara Area was acquired for Dhs14 million, while 15000 sq ft of Um Al Sheif was disposed of for Dhs11 million.

                                                                       

During the period under review 6 mortgages worth Dhs69.9 million were registered, the most significant of which as the Dhs19.34 million for an area at Al Manara. There was another for Dhs15.2 million on an area in Um Al Sheif and a further sum of Dhs11.74 million registered on an area of land sold in Nad Al Shiba.


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