Written by Neil King
The value of land transactions completed in Dubai last week hit AED1.73 billion, the latest figures from the Land Department show.
Over the course of the week, the total value of mortgage secured for property for sale in Dubai hit AED1.05 billion, with sales accounting for the remaining AED680 million in transactions.
In total, some 50 sales were completed, the most valuable being a plot in Emirates Hills Third which changed hands for AED19.5 million. Palm Jumeirah also registered an AED8 million sale, the department confirmed.
"The biggest area sold was the 29653.18 sq ft in the Emirates Hills Third area, which went for AED4.09m," the authority announced.
It was a strong week for Emirates Hills Third as it also scored the highest number of sales, with eight transactions completed.
Overall, land transactions were up against the previous week, when 45 sales were completed at a total value of AED1.58 billion.