Real estate transactions at the Dubai Land Department yesterday amounted to AED 4.29 billion, through 855 transactions. The department witnessed the registration of 697 sales worth AED 2.71 billion, including 64 land sales, 517 residential unit sales and 116 building sales.
The Business Bay area topped sales in terms of value with AED 463 million through two deals, followed by the Al-Yafra 1 area with a value of AED 219 million resulting from 69 deals, the Dubai Maritime City area came in third with AED 146 million through 42 deals, and the Palm Jumeirah area came in fourth with 20 deals worth AED 140 million.
The market witnessed the sale of two plots of land in the Business Bay area for a total value of AED 463 million. The value of the first deal amounted to AED 236 million for a residential plot extending over an area of 71,655 square feet, equivalent to AED 3,297 per square foot.
While the value of the second plot of land reached 226 million dirhams, and extends over an area of 72,473 square feet, equivalent to 3,118 dirhams per square foot. Mortgages recorded a value of 878 million dirhams, which was completed through 137 transactions, including 38 mortgages for lands, 78 mortgages for residential units, and 21 mortgages for buildings. The market also witnessed the registration of 21 donations worth 709 million dirhams.