Land transactions in Dubai top Dhs218.65m

The total value of land transactions in Dubai today August 20, 2009 peaked at Dhs218.65m, of which sales exceeded Dhs143.75m.

The total value of mortgages during the period was Dhs74.89m, according to the Land Department.

A total of 8 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in AL Saffa First that was sold for Dhs20m.

The next two most prominent sales saw a second plot in Palm Jumeirah acquired for the sum of Dhs15.5925m and another in Hor Al Anz for Dhs4m.

The Emirates Hills Third area was the most active in terms of the day's sales, with some 3 transactions. AL Saffa First followed it with 1 sales.
source AME Info

During the period, Al Saffa First recorded the highest turnover by value, at Dhs20m, followed by the Palm Jumeirah area, Dhs15.59m, and Emirates Hills Third area, Dhs10.15m.

The biggest area sold was the 40000 sq ft in the AL Saffa First area, which went for Dhs20m. A 13404.07 sq ft plot in the Palm Jumeirah Area was acquired for Dhs15.59m, while 10400 sq ft of Mirdif was disposed of for Dhs2.96m.

During the period under review 18 mortgages worth Dhs35.72m were registered, the most significant of which as the Dhs15m for an area at AL Saffa First. There was another for Dhs4.5m on an area in AL Karama Apartments and villas in freehold areas witnessed the registration of 69 sales transaction out of which 63 were for apartments for a total of Dhs48.90m and 6 for villas at a total sum of Dhs6.53m.

A total of 9 mortgages for Dhs12.53m were registered on villas and apartments.