Land transactions in Dubai 'hit peak'

30/09/2009 - Dubai Investment News
Land transactions in Dubai 'hit peak'

By Bob Brunskill

Those with a Dubai property investment will be interested to learn the figures from the Land Department of Dubai, reporting a peak today in the value of land transactions.

Figures released detail the total value of transactions exceeded AED229 million, with sales exceeding AED143 million.

The most valuable of the land registration transactions for the day was reported as being a plot in Emirates Hills Third, at AED15 million.

Figures to date also saw the value of mortgages registrations reach AED58 million, the largest part of this amount being attributed to an area registered in Al Safouh First for a figure of more than AED11.5 million.

By the end of today a total of 14 sales had been registered on apartments and villas with Dubai's land department, valued at over AED18.5 million.

The land department's Real Estate Regulatory Agency has recently teamed up with various international organisations, including the Asian Public Real Estate Association, as part of its function of regulating the Dubai property investment sector.

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