Land transactions in Dubai top Dhs225.43m

The total value of mortgages during the period was Dhs125.13m, according to the Land Department.

A total of 4 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Eyal Nasser that was sold for Dhs6.5m.

The next two most prominent sales saw a second plot in Ranches acquired for the sum of Dhs6m and another in Al Mezhar First for Dhs6m.

The Ranches area was the most active in terms of the day's sales, with some 2 transactions. Al Mezhar First followed it with 1 sales.

During the period, Ranches recorded the highest turnover by value, at Dhs9.45m, followed by the Eyal Nasser area, Dhs6.5m, and Al Mezhar First area, Dhs6m.

The biggest area sold was the 15000 sq ft in the Al Mezhar First area, which went for Dhs6m. A 10057 sq ft plot in the Ranches Area was acquired for Dhs6m, while 7140 sq ft of Ranches was disposed of for Dhs3.45m.

During the period under review 21 mortgages worth Dhs64.03m were registered, the most significant of which as the Dhs42.9m for an area at Port Saeed. There was another for Dhs3.23m on an area in Ranches.

Apartments and villas in freehold areas witnessed the registration of 47 sales transaction out of which 42 were for apartments for a total of Dhs50.87m and 5 for villas at a total sum of Dhs8.41m.

A total of 11 mortgages for Dhs43.55m were registered on villas and apartments.