Land transactions in Dubai top Dhs1.58bn

The total value of mortgages during the period was Dhs792.53m, according to the Land Department.

A total of 45 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Sport City that was sold for Dhs59.5568m. The next two most prominent sales saw a second plot in Nad Al Shiba acquired for the sum of Dhs36.77m and another in Al Barsha First for Dhs31.5028m.

The Ranches area was the most active in terms of the week's sales, with some 9 transactions. Emirates Hills Third followed it with 6 sales.

During the period, Sport City recorded the highest turnover by value, at Dhs81.89m, followed by the Nad Al Shiba area, Dhs51.94m, and Emirates Hills Third area, Dhs43.32m.

The biggest area sold was the 180016 sq ft in the Al Barsha First area, which went for Dhs31.5m. A 64482 sq ft plot in the Nad Al Shiba Area was acquired for Dhs36.77m, while 40509 sq ft of Al Barshaa South Third was disposed of for Dhs10.63m.

During the period under review 189 mortgages worth Dhs634.51m were registered, the most significant of which as the Dhs100m for an area at Al Raffa. There was another for Dhs72.2m on an area in Al Goze Industrial Third.

Apartments and villas in freehold areas witnessed the registration of 320 sales transaction out of which 291 were for apartments for a total of Dhs326.47m and 29 for villas at a total sum of Dhs44.09m.

A total of 46 mortgages for Dhs87.42m were registered on villas and apartments.