Picture used for illustrative purpose only.
Gulf Today, Staff Reporter
The real estate transactions in the Dubai Land Department amounted to more than Dhs881 million, as the department witnessed, on Monday, the registration of 277 pledges of Dhs 576.32 million, including 60 sales of land, worth Dhs202.98 million, and 217 sales of apartments and villas, with a value of Dhs373.34 million.
The most important land pledges worth Dhs19 million in the Al-Manara area, followed by a pledge of Dhs13 million in Mohammed Bin Rashid gardens, followed by a Dhs12 million pledge in the first Nad Al Sheba area.
Jebel Ali first region topped the regions in terms of the number of allegiances; It recorded 36 pledges of Dhs84 million, followed by the third district of Nad Al Sheba, which recorded 7 pledges of Dhs19 million, and the third in Mohammed Bin Rashid gardens with 4 transactions worth Dhs35 million.
As for the most important sales of apartments and villas, a pledge of Dhs8 million in the Burj Khalifa area came as the most important pledge, followed by a pledge of Dhs8 million in the fourth Al Thanyah area, and finally a pledge of Dhs7 million in the Dubai Marina area.
The third district, Al Barsha (South), topped the regions in terms of the number of sales of apartments and villas. It recorded 49 pledges of allegiance worth Dhs30 million, followed by Wadi Al-Safa 5 with 29 pledges of Dhs 61 million, and the third in Dubai Marina with 24 pledges of Dhs70 million.
Mortgages recorded a value of 286.23 million dirhams, including 12 mortgages of land, worth 22.72 million dirhams, and 38 mortgages for villas and apartments, with a value of 263.51 million dirhams.
As for donations, 11 donations worth 19.21 million dirhams were registered, the most important of which were in Wadi Al-Safa 5, with a value of 9 million dirhams, and another in the fourth district of Al-Barsha (South) with a value of 5 million dirhams.
The only other period that saw higher transaction volumes was in the second and third quarters of 2009, when the ownership of about 33,000 and 23,000 properties were changed hands, respectively, said Taimur Khan, head of research at CBRE.
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