Land transactions in Dubai top Dhs572.52 millions

The total value of land transactions in Dubai om Monday 31/3/2008 peaked at Dhs572.52 millions , of which sales exceeded Dhs222.63 millions million. The total value of mortgages during the period was Dhs349.88 millions million, according to the Land Department.

A total of 20 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Nad Al Shiba that was sold for Dhs35.45825456 million. The next two most prominent sales saw a second plot in Al Jadaf acquired for the sum of Dhs25.833 million and another in Al Ruwayyah for Dhs23.269 million The Al Ruwayyah area was the most active in terms of the day's sales, with some 7 transactions. Al Jadaf followed it with 3 sales.

During the period, Al Jadaf recorded the highest turnover by value, at Dhs63.79 million, followed by the Nad Al Shiba area, Dhs35.46 million, and Al Ruwayyah area, Dhs27.77 million.

The biggest area sold was the 1441485.5 sq ft in the Al Ruwayyah area, which went for Dhs.79 million. A 48476 sq ft plot in the Al Ruwayyah Area was acquired for Dhs23.27 million, while 33076.73 sq ft of Nad Al Shiba was disposed of for Dhs35.46 million.

During the period under review 8 mortgages worth Dhs333.89 million were registered, the most significant of which as the Dhs270 million for an area at Emirates Hills Second. There was another for Dhs35.08 million on an area in Nad Al Shiba Apartments and villas in freehold areas witnessed the registration of 34 sales transaction out of which 30 were for apartments for a total of 32.18 millions and 4 for villas at a total sum of 9.54 millions Dhs A total of 7 mortgages for 9.56 millions Dhs were registered on villas and apartments.