Land transactions in Dubai top Dhs2.19bn

The total value of mortgages during the period was Dhs919.29m, according to the Land Department.

A total of 81 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Sheikh Zayed Road that was sold for Dhs124.00512m.

The next two most prominent sales saw a second plot in Jabal Ali acquired for the sum of Dhs34.1201m and another in Jabal Ali for Dhs28.807m.

The Ranches area was the most active in terms of the week's sales, with some 21 transactions. Emirates Hills Third followed it with 17 sales.

During the period, Sheikh Zayed Road recorded the highest turnover by value, at Dhs124.01m, followed by the Jabal Ali area, Dhs91.21m, and Emirates Hills Third area, Dhs89.32m.

The biggest area sold was the 315217 sq ft in the Al Aweer Second area, which went for Dhs11m. A 64586 sq ft plot in the Sheikh Zayed Road Area was acquired for Dhs124.01m, while 41899 sq ft of Dubai Industrial City First was disposed of for Dhs7.92m.

During the period under review 61 mortgages worth Dhs714.8m were registered, the most significant of which as the Dhs160m for an area at Mankhool. There was another for Dhs152m on an area in Sheikh Zayed Road Apartments and villas in freehold areas witnessed the registration of 652 sales transaction out of which 607 were for apartments for a total of Dhs582.16m and 45 for villas at a total sum of Dhs76.77m.

A total of 93 mortgages for Dhs132.79m were registered on villas and apartments.