Land transactions in Dubai top Dhs2.24bn

The total value of mortgages during the period was Dhs1.31bn, according to the Land Department.

A total of 57 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Al Barsha First that was sold for Dhs31.5028m. The next two most prominent sales saw a second plot in Emirates Hills Third acquired for the sum of Dhs26m and another in Emirates Hills Third for Dhs24.5m.

The Ranches area was the most active in terms of the week's sales, with some 15 transactions. Emirates Hills Third followed it with 9 sales.

During the period, Emirates Hills Third recorded the highest turnover by value, at Dhs80.69m, followed by the Ranches area, Dhs44.28m, and Palm Jumeirah area, Dhs39.4m.

The biggest area sold was the 235486 sq ft in the Al Khawaneej Second area, which went for Dhs9.42m. A 180016 sq ft plot in the Al Barsha First Area was acquired for Dhs31.5m, while 60457 sq ft of Al Barshaa South Third was disposed of for Dhs18.89m.

During the period under review 151 mortgages worth Dhs1152.71m were registered, the most significant of which as the Dhs239.18m for an area at Al Barshaa South Second. There was another for Dhs235m on an area in Al Qusais First.

Apartments and villas in freehold areas witnessed the registration of 461 sales transaction out of which 429 were for apartments for a total of 456.66m and 32 for villas at a total sum of Dhs61.57m.

A total of 64 mortgages for Dhs108.09m were registered on villas and apartments.