Land transactions in Dubai top Dhs698.40m

The total value of mortgages during the period was Dhs474.41m, according to the Land Department.

A total of 7 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Port Saeed that was sold for Dhs12.5m.

The next two most prominent sales saw a second plot in Al Ras acquired for the sum of Dhs7m and another in Emirates Hills Third for Dhs5.3m

The AL RAS area was the most active in terms of the day's sales, with some 1 transactions. Al Twar Third followed it with 1 sales.

During the period, Port Saeed recorded the highest turnover by value, at Dhs12.5m, followed by the AL RAS area, Dhs7m, and Emirates Hills ThirdM area, Dhs5.3m.

The biggest area sold was the 15000 sq ft in the Al Twar Third area, which went for Dhs2.48m. A 9952 sq ft plot in the Mirdif Area was acquired for Dhs4.1m, while 7562.72 sq ft of Jumairah Village Second was disposed of for Dhs1.64m.

During the period under review 20 mortgages worth Dhs386.89m were registered, the most significant of which as the Dhs130m for an area at Marsa Dubai. There was another for Dhs77m on an area in Sheikh Zayed Road

Apartments and villas in freehold areas witnessed the registration of 111 sales transaction out of which 103 were for apartments for a total of Dhs105.31m and 8 for villas at a total sum of Dhs15.90m.

A total of 19 mortgages for Dhs26.29m were registered on villas and apartments