The total value of land transactions in Dubai on May 22 peaked at Dhs424.92 millions , of which sales exceeded Dhs141 million. The total value of mortgages during the period was Dhs284.3 million, according to the Land Department.
A total of 8 sale transactions were registered with the Department by the end of May 22, the most valuable of which was a plot in Al Safouh Second that was sold for Dhs95 million. The next two most prominent sales saw a second plot in Um Hurair Second acquired for the sum of Dhs15.9435 million and another in Um Hurair Second for Dhs14.5425 million.
The Um Hurair Second area was the most active in terms of the May 22's sales, with some 2 transactions. Al Mezhar Second followed it with one deal.
During the day, Al Safouh Second recorded the highest turnover by value, at Dhs95 million, followed by the Um Hurair Second area, Dhs30.49 million, and Al Mezhar Second area, Dhs7 million.
The biggest area sold was the 56698.83 sq ft in the Al Safouh Second area, which went for Dhs95 million. A 40000 sq ft plot in the Al Mezhar Second Area was acquired for Dhs7 million, while 21258 sq ft of Um Hurair Second was disposed of for Dhs15.94 million.
During the day, 6 mortgages worth Dhs273.61 million were registered, the most significant of which as the Dhs181.35 million for an area at Al Safouh Second. There was another for Dhs49.2 million on an area in Al Barsha First.
