The total value of land transactions in Dubai last week peaked at Dhs1.48 billions of which sales exceeded Dhs677 million. The total value of mortgages during the period was Dhs807.92 million, according to the Land Department.
A total of 58 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Al Safouh Second that was sold for Dhs250 million. The next two most prominent sales saw a second plot in Port Saeed acquired for the sum of Dhs42 million and another in Al Qusais First for Dhs40 million
The Al Mararr area was the most active in terms of the week's sales, with some 5 transactions. Al Nahda Second followed it with 4 sales.
During the period, Al Safouh Second recorded the highest turnover by value, at Dhs250 million, followed by the Al Nahda Second area, Dhs67.15 million, and Port Saeed area, Dhs42 million.
The biggest area sold was the 278121 sq ft in the Al Qusais First area, which went for Dhs40 million. A 235115 sq ft plot in the Al Khawaneej Second Area was acquired for Dhs11.5 million, while 53026.28 sq ft of Nad Al Shiba was disposed of for Dhs13.26 million.
During the period under review 38 mortgages worth Dhs617.4 million were registered, the most significant of which as the Dhs250 million for an area at Al Safouh Second. There was another for Dhs64 million on an area in Jumeira Third.
