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Sun, 08 Nov 2009 | 04:55 GMT
 

Dubai land transactions exceed Dh2.2b

Gulf News
 
 

Friday, Jul 03, 2009

Gulf News

Dubai: The total value of land transactions in Dubai reached Dh2.24 billion last week, of which sales exceeded Dh922.92 million, the Land DepartmentLand DepartmentLoading... said in a statement.

The total value of mortgages during the period was Dh1.31 billion.

A total of 57 sale transactions were registered with the Land DepartmentLand DepartmentLoading... at the end of the week, the most valuable of which was a plot in Al Barsha-1 that was sold for Dh31.5028 million.

The next two most prominent sales were of a plot on Emirates Hills-3 acquired for Dh26 million, and another, also on Emirates Hills-3, for Dh24.5 million.

The Ranches area was the most active in terms of the week's sales, with 15 transactions. Emirates Hills-3 followed with nine.

Emirates Hills-3 recorded the highest turnover by value, at Dh80.69 million, followed by the Ranches area, Dh44.28 million, and Palm Jumeirah area, Dh39.4 million.

The biggest area sold was a 235,486 square foot plot in Al Khawaneej-2, which went for Dh9.42 million.

During the period, 151 mortgages worth Dh1152.71 million were registered, topped by a Dh239.18 million transaction at Al Barshaa South-2 and a Dh235 million deal in Al Qusais-1.

There were 461 transactions registered in freehold areas, of which 429 were for apartments valued at Dh456.6 million and 32 for villas at Dh61.57 million.

A total of 64 mortgages were registered for villas and apartments during the period.

Staff Report

© Gulf News 2009. All rights reserved.

 
 
 
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