Friday, July 14, 2006

Property and mortgage transactions in Dubai top Dh817m

Property and mortgage transactions in Dubai top Dh817m
13-Jul-2006

Dubai

Land and mortgage transactions in Dubai hit Dh817.12 million, of which Dh303 million came from sales. The remaining Dh514.28 million came from mortgage deals, according to a Land Department report.

37 sale deeds were registered with the department by the end of last week, the most prominent being that of a plot in Al Muraqqabat that was acquired for Dh124.84 million. The next two important transactions were those of a plot in Al Safouh – 2 for Dh32.99 million and another, again in Al Safouh – 2 for Dh32 million.

Around 13 real estate transactions were conducted at the Emirates Hills – 1 area in New Dubai, followed by Mirdiff with 6 sales. During the period Al Muraqqabat recorded the highest turnover by value, at Dh124.85 million. Al Safouh – 2 and Emirates Hills – 1 also registered impressive turnovers at Dh65 million and Dh27.9 million respectively. The biggest plot disposed of was the 78802.58 sqft plot in Al Safouh – 2. Also during the period, 24 mortgages worth Dh413.3 million were registered with the Land Department.

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