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Land transactions in Dubai top Dhs305.68m

United Arab Emirates: Wednesday, December 30 - 2009 @ 14:11

A total of 9 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 Dhs34.0716m. The next two most prominent sales saw a second plot in Al Ras acquired for the sum of Dhs20m and another in Palm Jumeirah for Dhs7.8m.

The Ranches area was the most active in terms of the day’s sales, with some 2 transactions. Al Raffa followed it with 1 sales.

During the period, Nad Al Shiba recorded the highest turnover by value, at Dhs34.07m, followed by the Al Ras area, Dhs20m, and Palm Jumeirah area, Dhs7.8m.

The biggest area sold was the 56786.08 sq ft in the Nad Al Shiba area, which went for Dhs34.07m. A 14800 sq ft plot in the Muhaisanah Third Area was acquired for Dhs2.37m, while 8012 sq ft of Ranches was disposed of for Dhs2.71m.

During the period under review 20 mortgages worth Dhs103.94m were registered, the most significant of which as the Dhs63.44m for an area at Port Saeed. There was another for Dhs8.58m on an area in Nad Al Shiba.

Apartments and villas in freehold areas witnessed the registration of 83 sales transaction out of which 82 were for apartments for a total of Dhs90.11m and 1 for villas at a total sum of Dhs1.7m.

A total of 9 mortgages for Dhs12.04m were registered on villas and apartments.

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Wednesday, December 30- 2009 @ 14:11 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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