Land transactions total Dh2.26bn

10/01/2009 - Dubai Property News
Land transactions total Dh2.26bn

Last week, the total value of Dubai land transactions totalled Dh2.26 billion (£403.7 milion), official figures from the Land Department have shown.

Meanwhile, the total value of mortgages extended to those looking to buy property in Dubai reached Dh899.5 million.

In a statement released yesterday (January 8th), the department confirmed that a total of 37 plots were tendered by the end of the week, with the most valuable said to be a site in the Emirates Hills Third which sold for Dh16 million.

"The next two most prominent sales saw a second plot in Naif acquired for the sum of Dh10 million and another in Al Ruwayyah for Dh9.375 million," the organisation stated.

Meanwhile, the Palm Jumeirah successfully completed 20 transactions, making this the busiest area in terms of buying in Dubai.

This week, land transactions reached a peak of Dh1.35 billion on Wednesday (January 7th), with sales exceeding Dh729.8 million.