Media ININ Economy We Trust
Media In – Ras Al Khaimah 26 August 2018
Real Estate and Land Department’s real estate transactions in RAK Municipality increased by more than AED 2.664 billion during the first half of 2018, an increase of 33% compared to the first half of last year. According to the department’s semi-annual report, 2632 transactions were recorded, including purchases, sales and mortgages for vouchers and documents, of which 1412 were over AED 902.13 million and 844 were mortgage transactions with a total value of AED 1.479 billion, an increase of 106.4% compared to the first half of last year And 376 other real estate transactions worth more than AED 283.63 million. Munther Mohammed Bin Shukr Al Zaabi, Director General of Ras Al Khaimah Municipality, said: “The land and property sector at Ras Al Khaimah has achieved a leading position by launching the first land price index by land type and the most traded area at the same time. Engaged in the registration of contracts for the sale of real estate properties in order to contribute to improving the competitive position of the Emirate of Ras Al Khaimah resulting from the publication of the report on business practices, which assesses the business climate annually in the largest commercial cities in some 190 countries worldwide. Za’abi stated that the highest value in the first half of this year was recorded in Al-Jazirah Al-Hamra area of AED 19 million, while the highest area of land was recorded in the Al Hamraniya area of 272,083 square meters. AED 5.60 million.
