Land deals up by 550 percent in UAE

Submitted by admin4 on 26 May 2010 - 2:44pm

By IANS/WAM,

Abu Dhabi : Land and real estate transactions in the United Arab Emirates (UAE) showed a whopping increase of 550 percent in April 2010 from the corresponding period last year.

Transactions in Abu Dhabi in April 2010 were worth a total of 12.3 billion dirhams ($3.3 billion). Property transactions amounted to 11.9 billion dirhams, while the total sales price topped 241.2 million dirhams.

In March 2009, the transactions were worth only about two billion dirhams, Uwaidha Al Qubaisi, acting executive director of municipal services sector, said.

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