Dubai’s real estate market saw two land plots mortgaged and sold for a total of Dhs453.4 million during the mid-weekend trading.
According to the Dubai REST app, a plot of land in Dubai Industrial City spanning 903,672 square feet was mortgaged for Dhs295 million with an average price of Dhs326.5 per square foot.
The other plot of land in Umm Suqeim 1 spanning 19,799 square feet was sold for Dhs158.4 million with an average of Dhs8,000 per square foot.
Mid-Friday sales totaled Dhs1.4 billion, resulting from 414 transactions, while mortgages totaled Dhs576.5 million, resulting from 114 transactions and gifts Dhs155 million, resulting from 18 transactions.
