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Dubai land deals to hit Dhs 63bn, up 21%
- United Arab Emirates: Tuesday, August 07 - 2012 at 12:06
The Dubai Land Department (DLD) has said land transactions in the emirate jumped 21% to reach Dhs63bn in the first half of 2012, an indicator of the strong performance of the emirate's real estate industry, Gulf News has reported. Sales accounted for 49% of the transactions while mortgage made up 47%, the DLD said. "The department's transactions for the first half of 2012 reached 18,953, on an average of 133 transactions per day and 16 transactions per hour, including sales, mortgages, ijarah (online registration fee), mortgage portfolios, deferred sales and other transactions," said Sultan Butti Bin Mejrin, director general of the DLD.
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