The total value of land transactions in Dubai last week peaked at Dhs499.28 million, of which sales exceeded Dhs133 million. The total value of mortgages during the period was Dhs366.5 million, according to the Land Department.
A total of 33 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Al Barsha First that was sold for Dhs33.3 million. The next two most prominent sales saw a second plot in Al Manara acquired for the sum of Dhs14 million and another in Um Al Sheif for Dhs11 million
The Al Satwa area was the most active in terms of the week's sales, with some 5 transactions. Hor Al Anz followed it with 4 sales. Al Murqabat followed it with 3 sales .
During the period, Al Barsha First recorded the highest turnover by value, at Dhs33.3 million, followed by the Al Murqabat area, Dhs17.52 million, and Um Al Sheif area, Dhs14.85 million.
The biggest area sold was the 23450 sq ft in the Al Barsha First area, which went for Dhs33.3 million. A 20000 sq ft plot in the Al Khawaneej First Area was acquired for Dhs2.45 million, while 19990 sq ft of Al Mezhar Second was disposed of for Dhs2.04 million.
During the period under review 22 mortgages worth Dhs352.99 million were registered, the most significant of which as the Dhs65.03 million for an area at Al Karama. There was another for Dhs55 million on an area in Marsa Dubai and a further sum of Dhs50 million registered on an area of land sold in Al Wasl.
