Dubai transactions top AED 2 billion

22/02/2009 - Dubai Property News
Dubai transactions top AED 2 billion

Total land transactions in Dubai peaked at AED 2.01 billion, with settlements for Dubai property for sale accounting for AED 1.06 billion, figures from the Land Department show.

Over the course of the week, some 63 transactions for Dubai property investment were completed, with the total value of mortgages for the period standing at AED 951.12 million.

The Palm Jumeirah reigned supreme as the most attractive investment property in terms of sales, with some 26 transactions brokered over the course of week. This development also recorded highest turnover by value, followed by Jabel Ali and the Sheikh Zayed Road areas.

"During the period under review 76 mortgages worth AED 802.75 million were registered, the most significant of which as the AED 215.41 million for an area at Nad Al Shiba," the Land Department also reported.

Figures for the preceding week showed total transactions of AED 1.81 billion, with settlements on property for sale in Dubai contributing AED 1.21 billion to this figure.