Land transactions in Dubai top Dhs471.24m

The total value of mortgages during the period was Dhs77.27m, according to the Land Department.

A total of 10 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Al Ruwayyah that was sold for Dhs207.20799m.

The next two most prominent sales saw a second plot in Al Suq Al Kabeer acquired for the sum of Dhs11.5m and another in Palm Jumeirah for Dhs6.8m.

The Al Ruwayyah area was the most active in terms of the day's sales, with some 3 transactions. Ranches followed it with 3 sales.

During the period, Al Ruwayyah recorded the highest turnover by value, at Dhs208.62m, followed by the Al Suq Al Kabeer area, Dhs11.5m, and Ranches area, Dhs8.99m.

The biggest area sold was the 430338 sq ft in the Al Ruwayyah area, which went for Dhs207.21m. A 11206 sq ft plot in the Emirates Hills Third Area was acquired for Dhs1.82m, while 10570.15 sq ft of Emirates Hills First was disposed of for Dhs4.15m.

During the period under review 6 mortgages worth Dhs12.3m were registered, the most significant of which as the Dhs7m for an area at Emirates Hills Third. There was another for Dhs2.8m on an area in Ranches Apartments and villas in freehold areas witnessed the registration of 129 sales transaction out of which 121 were for apartments for a total of Dhs108.20m and 8 for villas at a total sum of Dhs16.78m.

A total of 27 mortgages for Dhs38.61m were registered on villas and apartments.