Land transactions in Dubai top Dhs386.46m

The total value of mortgages during the period was Dhs249.44m, according to the Land Department.

A total of 13 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Palm Jumeirah that was sold for Dhs14m. The next two most prominent sales saw a second plot in Palm Jumeirah acquired for the sum of Dhs7m and another in Emirates Hills Third for Dhs6.2m.

The Sport City area was the most active in terms of the day's sales, with some 5 transactions. Emirates Hills Third followed it with 3 sales.

During the period, Palm Jumeirah recorded the highest turnover by value, at Dhs25.65m, followed by the Emirates Hills Third area, Dhs8.63m, and Sport City area, Dhs6.03m.

The biggest area sold was the 13403.32 sq ft in the Palm Jumeirah area, which went for Dhs4.65m. A 13398.04 sq ft plot in the Palm Jumeirah Area was acquired for Dhs14m, while 11984 sq ft of Emirates Hills Third was disposed of for Dhs6.2m.

During the period under review 9 mortgages worth Dhs218.47m were registered, the most significant of which as the Dhs204.26m for an area at Sheikh Zayed Road. There was another for Dhs4m on an area in Emirates Hills Third.

Apartments and villas in freehold areas witnessed the registration of 64 sales transaction out of which 53 were for apartments for a total of 47.74m and 11 for villas at a total sum of Dhs13.53m.

A total of 5 mortgages for Dhs4.97m were registered on villas and apartments.