In the month of October, the number of land sales in Dubai was highest in Arabian Ranches (77), followed by Emirates Hills Third (66). The total value of land transactions in the emirate during the same period was highest at Emirates Hills Third (AED 286,419,414). According to Sultan Butti bin Mijrin, Director General, Dubai Land Department, land transactions in the emirate are expected to scale AED 300 billion by 2008 end, compared with AED 175 billion in 2007. He said: “"The department has registered Dh228bn worth of transactions since the beginning of 2008 until October 12, a record growth of 115 per cent compared with the same period in 2007." Bin Mijrin also rules out any ill-effect on the sales in the near future. This underscores the steadfast faith and optimism in the economic structure of Dubai, in spite of the unpredictability of international markets. |
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Date |
Value of Sales (in AED) |
Value of Sales (in USD) |
26/10/2008 |
69,232,663 |
18,813,223 |
27/10/2008 |
138,612,745 |
37,666,506 |
28/10/2008 |
91,068,691 |
24,746,926 |
29/10/2008 |
72,729,925 |
19,763,567 |
30/10/2008 |
223,707,257* |
60,790,015* |
Total |
595,351,281 |
161,780,239 |
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(Source : Dubai Land Department *Figures apply to transactions registered with Dubai Land Department till 12.00 pm on Oct 30, 2008) |
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