Thursday, April 13, 2006

Dubai land deals valued at Dh731m ::

Dubai land deals valued at Dh731m :: "The value of land transactions in Dubai last week peaked at Dh730.66 million. The total appraisal of mortgages during the period was Dh411.87 million, according to the Land Department, Dubai. A total of 41 sale transactions were registered with the department by the end of the week, the most significant of which was a plot in Al Goze Industrial Second that was sold for Dhs66 million.

Dubai Logistics City (DLC), part of the world’s first integrated logistics and multi-modal transport platform being created in Jebel Ali in the United Arab Emirates, has received commitments for over 2million sqm of land, which amounts to one million square metres of warehousing. The deals to build dedicated warehouses in DLC have come from over 50 companies representing a wide mix of regional & international freight forwarders and logistics providers.In addition,Dubai Industrial City (DIC), the first phase of which is to open in 2007, is expected to draw investments worth Dh37 billion when all the three phases of the sprawling 560 million square feet facility near Jebel Ali seaport and the new airport go on stream.

Dubai, one of the seven emirates in the UAE federation, kicked off a regional property boom four years ago by allowing foreign investment in real estate, and several other emirates have followed suit. The new property law, issued by"

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