Reports from the Dubai Land Department reveal that land transactions in the emirate on Tuesday exceeded the half billion dirham mark, reaching an impressive Dh504.37 million.
The figure is one of the highest values for land transactions in recent months, said the Land Department according to Gulf News. Of this amount, land sales exceeded Dh478 million while the total value of mortgages during the period was Dh26.85 million.
A reported14 sales were registered with the department during the course of day, with the most valuable plot being in the Emirates Hills-2 area that was sold for Dh238 million.
Following the Emirates Hills-2 sale was a second sale in the same area and a third in the Al Barsha-2 area which sold for Dh210 million and Dh3.75 million, respectively.
The most active area in Dubai in terms of land sales on Tuesday was the Emirates Hills-1 area, which accounted for nine transactions over the course of the day out of the overall number. Three sales were recorded in the Al Barsha-2 area and two sales recorded in the Emirates Hills-2 area.
Thus, the Emirates 2 area also saw the highest turnover by value, with some Dh448 million exchanged. The Emirates Hills-1 area accounted for some Dh18.8 million in turnover value and the Al Barsha-2 area with Dh7.5 million.
