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* Land transactions in Dubai top Dhs395.62 millions

The total value of land transactions in Dubai last week peaked at Dhs395.62 millions million, of which sales exceeded Dhs238 million. The total value of mortgages during the period was Dhs157.93 million, according to the Land Department.

A total of 25 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Port Saeed that was sold for Dhs60 million. The next two most prominent sales saw a second plot in Mardaf acquired for the sum of Dhs36.511425 million and another in Emirates Hills Second for Dhs25.99362 million

The Mardaf area was the most active in terms of the week's sales, with some 7 transactions. Al Satwa followed it with 3 sales.

During the period, Mardaf recorded the highest turnover by value, at Dhs94.27 million, followed by the Port Saeed area, Dhs60 million, and Emirates Hills Second area, Dhs25.99 million.

The biggest area sold was the 429666.22 sq ft in the Al Ruwayyah area, which went for Dhs5.94 million. A 274279 sq ft plot in the Mardaf Area was acquired for Dhs21.94 million, while 162273 sq ft of Mardaf was disposed of for Dhs36.51 million.

During the period under review 10 mortgages worth Dhs153.98 million were registered, the most significant of which as the Dhs52 million for an area at Al Murqabat. There was another for Dhs48 million on an area in Port Saeed and a further sum of Dhs30 million registered on an area of land sold in Al Murqabat.

(Source:www.dubaiphotomedia.com)