Land transactions in Dubai top Dhs275.80m

The total value of mortgages during the period was Dhs80.12m, according to the Land Department.

A total of 14 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Um Suqaim First that was sold for Dhs18.2m.

The next two most prominent sales saw a second plot in Al Hamriya acquired for the sum of Dhs16m and another in Al Khawaneej Second for Dhs9.41944m.

The Ranches area was the most active in terms of the day's sales, with some 4 transactions. Palm Jumeirah followed it with 3 sales.

During the period, Um Suqaim First recorded the highest turnover by value, at Dhs18.2m, followed by the Palm Jumeirah area, Dhs16.5m, and Al Hamriya area, Dhs16m.

The biggest area sold was the 235486 sq ft in the Al Khawaneej Second area, which went for Dhs9.42m. A 14185 sq ft plot in the Al Hamriya Area was acquired for Dhs16m, while 9219 sq ft of Emirates Hills Third was disposed of for Dhs1.45m.

During the period under review 16 mortgages worth Dhs42.4m were registered, the most significant of which as the Dhs8.5m for an area at Al Saffa Second. There was another for Dhs5.63m on an area in Al Warqa First.

Apartments and villas in freehold areas witnessed the registration of 113 sales transaction out of which 111 were for apartments for a total of Dhs93.80m and 2 for villas at a total sum of Dhs5.44m.

A total of 10 mortgages for Dhs28.60m were registered on villas and apartments.