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The Municipality of Abu Dhabi City has registered a real estate mortgage contract for a privately-owned investment entity this week to the worth of US$ 100 million (AED 367.301 million); the largest real estate mortgage contract registered by the Municipality during the current year.
The value of land traded during the period from January to October this year hit AED 40,701,791,610 of which land sales transactions accounted for AED 2,677,214,451 while mortgaging transactions clocked AED 38,024,577,159.
Sales and mortgages fluctuated between January and September this year, as sales transactions amounted to AED 195,614,000, in February the sales picked up to more than AED 206 million and in March it went up even higher to exceed AED 871 million but plunged in April to AED 349 million. It went down in May to AED 184 million, and in June it recorded AED 188.585 million. In July it dived to approximately AED 91 million but rose up again to as much as AED 135.745 million in August, AED 171.334 million in September, and continued the upward trend in October to hit to AED 282.273 million.
On the other hand, mortgages in January clocked AED 2,645,812,000 and dropped in February to AED 1.356 billion in February. It started to soar in March to reach more than AED 2 billion and in April it shot even higher to reach AED 3.296 billion. In May, it plummeted to AED 1.503 billion but jumped in June to more than AED 8 billion. It then showed a downward trend in July to hit AED 1.466 billion, but peaked to AED 9.827 billion in August before it dropped sharply to AED 2.707 billion in September, though witnessed an increase in October to as much as AED 4.386 billion.
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