Land transactions in Dubai top Dhs1.68bn

A total of 61 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Al Safouh Second that was sold for Dhs35.494423m. The next two most prominent sales saw a second plot in World Islands acquired for the sum of Dhs34.87536m and another in Al Safouh Second for Dhs34.751492m.

The Emirates Hills Third area was the most active in terms of the week's sales, with some 7 transactions. Mirdif followed it with 5 sales.

During the period, Al Safouh Second recorded the highest turnover by value, at Dhs100m, followed by the World Islands area, Dhs34.88m, and Palm Jumeirah area, Dhs30.51m.

The biggest area sold was the 543790 sq ft in the Lehbab area, which went for Dhs5.44m. A 512847.03 sq ft plot in the World Islands Area was acquired for Dhs34.88m, while 229809 sq ft of Wadi Al Amardi was disposed of for Dhs9m.

During the period under review 75 mortgages worth Dhs321.95m were registered, the most significant of which as the Dhs100m for an area at Emirates Hills First. There was another for Dhs72.8m on an area in Al Garhoud.

Apartments and villas in freehold areas witnessed the registration of 467 sales transaction out of which 443 were for apartments for a total of Dhs404.88m and 24 for villas at a total sum of Dhs48.08m.

A total of 56 mortgages for Dhs98.62m were registered on villas and apartments.