Land transactions in Dubai touch Dh1.37b
The total value of land transactions in Dubai on 23 April 2009 reached Dh1.37 billion, of which sales exceeded Dh229.63 million. The total value of mortgages during the period was Dh1.14 billion, according to the Land Department. A total of four sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Umm Suqeim-2 that was sold for Dh14 million. The next two most prominent sales saw a second plot in Ranches, acquired for Dh6.26 million and another in Emirates Hills-3, for Dh4.4 million. The Ranches area was the most active in terms of the day's sales, with some two transactions. Emirates Hills-3 followed it with one sale. During the period, Umm Suqeim-2 recorded the highest turnover by value, at Dh14 million, followed by the Ranches area, Dh8.75 million and Emirates Hills-3, at Dh4.4 million. The biggest area sold was a 14,800-square foot plot in Umm Suqeim-2, which went for Dh14 million. A 13,093-square foot plot in the Ranches area was acquired for Dh6.26 million, while 8,174 square feet at the Ranches was sold for Dh2.49 million. During the period under review, 14 mortgages worth Dh1.12 billion were registered, the most significant of which as the Dh600 million for an area at Marsa Dubai. There was another for Dh400 million on an area in Al Sofouh-1.
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