Saturday, June 10, 2006

Dubai land transactions hit Dh139 million

The total value of land transactions in Dubai on April 17, 2006 hit Dh139.25 million, of which sales surpassed Dh88 million. The total value of mortgages was Dh51.11 million, according to the Land Department. Six sale deals were registered with the department on April 17, the most significant of which was a plot in Port Saeed that was sold for Dh42 million.

The next two prominent sales saw a second plot in Al Nahda-2 acquired for the sum of Dh18.75 million and another in Al Nahda-2 for Dh17.5 million. The Al Nahda-2 sector was the most active in terms of sales, with two transactions. There was one sale in Al Barshaa South-1.During the period, Port Saeed recorded the highest turnover by value, at Dh42 million. It was followed by the Al Nahda-2 area with Dh36.25 million and Al Mararr with Dh6.25 million.

The biggest plot sold was the 25,000 square foot piece of land in Al Nahda-2 that fetched Dh17.5 million. Another 25,000 square foot plot in Nahda-2 was acquired for Dh18.75 million, while 21,279 square foot of Port Saeed was disposed of for Dh42 million. Also, during the period under review 13 mortgages worth Dh49.93 million were registered, the most prominent of which was Dh42 million for a plot at Port Saeed. There was another mortgage for Dh1.18 million for an area in Naif.
http://www.gowealthy.com/realestate/news/1047/detail.as

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