| 07 Aug 2009 |
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Land transactions in Dubai hit Dh1.17b
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Friday, Aug 07, 2009
Dubai: The total value of land transactions in Dubai last week reached Dh1.17 billion, of which sales exceeded Dh798.07 million. The total value of mortgages during the period was Dh376.16 million, according to the Land Department.
A total of 47 sale transactions were registered with the department by the end of the week, the most valuable of which was a plot in Emirates Hills-3 that was sold for Dh40 million. The next two most prominent sales saw a second plot in Nad Al Sheba acquired for Dh38.65 million and another in Jebel Ali for Dh28.81 million.
The Emirates Hills-3 was the most active in terms of the week's sales, with some 11 transactions. Palm Jumeirah followed with six sales.
During the period, Emirates Hills-3 recorded the highest turnover by value at Dh75.66 million, followed by Palm Jumeirah at Dh61.55 million, and Nad Al Sheba at Dh38.65 million.
The biggest area sold was 323,990 square feet in the Wadi Al Amardi area, which went for Dh14.58 million. A 64,954 square foot plot in Nad Al Sheba was acquired for Dh38.65 million, while 33,624 square feet of Dubai Industrial City-1 was disposed of for Dh7.15 million.
During the period under review, 136 mortgages were registered, the most significant of which was worth Dh40.09 million for an area in Jebel Ali. There was another worth Dh40.09 million in Umm Hurair-1.
A total of 71 mortgages for Dh70.92 million were registered for villas and apartments.
Staff Report
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