June 18, 2009 (WAM) - The total value of land transactions in Dubai today peaked at 526.71m, of which sales exceeded Dhs126.40m. The total value of mortgages during the period was Dhs400.31m, according to the Land Department. A total of 15 sale transactions were registered with the Department by the end of the day, the most valuable of which was a plot in Jumeirah Third that was sold for Dhs7.35m. The next two most prominent sales saw a second plot in Emirates Hills Second acquired for the sum of Dhs5.610888m and another in Al Warsan First for Dhs4.8408m.

The Palm Jumeirah area was the most active in terms of the day's sales, with some 3 transactions. Al Ruwayyah followed it with 2 sales. During the period, Palm Jumeirah recorded the highest turnover by value, at Dhs9.85m, followed by the Emirates Hills Second area, Dhs8.71m, and Jumeirah Third area, Dhs7.35m. The biggest area sold was the 33560.55 sq ft in the Al Warsan First area, which went for Dhs4.84m. A 18726.1 sq ft plot in the Emirates Hills Third Area was acquired for Dhs4.47m, while 15000 sq ft of Jumeirah Third was disposed of for Dhs7.35m. During the period under review 11 mortgages worth Dhs384.1 million were registered, the most significant of which was the Dhs214m for an area at Marsa Dubai. There was another for Dhs94m on an area in Al Jadaf Apartments and villas in freehold areas witnessed the registration of 90 sales transaction out of which 84 were for apartments for a total of 63.57m and 6 for villas at a total sum of Dhs8.70m. A total of 8 mortgages for Dhs12.41m were registered on villas and apartments