The value of land in Dubai rose by about 10 per cent over the past year as the emirate's property market continues to stabilise.
New figures released by Dubai's Land Department show values per square foot for properties in two areas - Al Barsha and Al Nahda - rose 13.8 per cent and 9.6 per cent, respectively, over the year to June, while overall land value increases were about 10 per cent.
In the upmarket Al Barsha district, which includes Mall of the Emirates and the Dubai American Academy, land values rose from Dh766 (US$208) per square foot in June last year to Dh872 in the same month this year.
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