According to the Dubai Land Department, the transactions in the real estate sector have showcased a positive growth in the first five months of this year when compared to the corresponding period last year. 3,642 land sales worth Dh 25 billion have been recorded during this first five months. Out of the 3,169 residential properties in dubai that have been sold off since January 2010, 2,927 were apartments, of which 10 per cent have been mortgaged.
The total land area that has been sold off is about 62,815 square feet. According to the Dubai Focus section in reidin.com, in 2009, 4,961 residential lands were sold off. 3,750 mortgages worth Dh3 2 billion with an area of 95,460 square feet have been recorded during the first five month of 2010. According to the department's assistant director-general Mohammad Sultan Thani, "While we may see less value there are many more transactions on a daily basis compared to last year."
Dubai rentals
Dubai rentals
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