Land sales worth more than $38.4m were concluded in Dubai on Monday, according to figures from the Lands and Property Department. The biggest deal was for a plot in Al Safouh-2 that changed hands for $25.9m. Mortgages worth $77.4m were also registered.

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Overseas property investment in Dubai has skyrocketed since May 2002, when it was made legal for foreign nationals to own property within the Emirate. Since this time, over 100, 000 British nationals have purchased property in Dubai, and this investment property boom is helping to fuel Dubai's rapid financial and economic growth.