Sharjah real estate transactions reach Dhs24.2 billion in 2019

Real estate transactions in the emirate of Sharjah valued at Dhs24.2 billion during 2019, registering an increase by 7.3 per cent in comparison to 2018, a report released by the emirate’s real estate department said on Sunday.

According to the Sharjah Real Estate Registration Department (SRERD) annual report, 61,357 transactions were recorded in 2019, showing an increase by 13.4 per cent in comparison to 2018.

Abdulaziz Ahmed Al Shamsi, SRERD Director-General, stated that the real estate sector in the Emirate keeps developing due to the directives of His Highness Dr Sheikh Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and follow-up of Sheikh Sultan Bin Mohammed Bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council.

The Sharjah real estate market provides a wide variety of investment opportunities for investors along with financing facilities offered by the banks. The prices of the properties has become affordable for all investors in the market.

 Explaining, Al Shamsi stated that 11,535 title deeds transactions, worth Dhs9.6 billion, were recorded in all the regions of the Emirate of Sharjah. “Other transactions recorded 3,760 mortgage transactions, worth Dhs14.6 billion, 963 valuation transactions, and 5,272 initial sales transactions.” Up to 3,328 sales transactions were recorded in all parts of the Emirate of Sharjah. “Most of these were recorded in Sharjah city where 2,963 sales transactions, worth Dhs4.8 billion, were recorded in 105 different areas,” he said.

 Most of Sharjah city real estate sales transactions were recorded in Muwaileh Commercial, Al Khan, Al Nahda and Hoshi areas. “However, the highest number of the Sharjah city real estate sales transactions recorded last year was in Muwaileh Commercial Area where 567 dealings, worth Dhs1.2 billion were recorded,” Al Shamsi explained.

 Up to 117 sales transactions totalling Dhs73.4 million, were recorded in 15 different areas of Khor Fakkan, predominantly in Al Harai’s industrial and commercial areas, Al Shamsi explained. He went on to say that up to 114 sales transactions, worth Dhs103 million, were recorded in 39 different areas of the Central Region, most of which were recorded in Al Tayba-2 and Seeh Al Saddah.

Up to 110 sales transactions, worth Dhs49.3 million, were recorded in 21 areas of Kalba city recorded, mainly in the industrial areas of Kalba and Al Saf, the department director-general continued, adding that Dibba Al Hisn city also recorded 24 sales transactions, valued at Dhs18 million across five different areas.

 Records show that sales transactions of 3,328 properties, 46.3 million square feet in area, were registered in the Emirate of Sharjah over the past year.

 According to Al Shamsi, 69.4 per cent of the transactions were related to residential properties, followed by commercial properties at 15.9 per cent, industrial (11.8 per cent) and agricultural (2.9 per cent). As for the classification of properties in the Emirate of Sharjah, residential properties ranked the highest in terms of sales transactions, where residential apartments have recorded 1,213 units and lands have recorded 895 properties.

 To target new international markets and enhance Sharjah Airport’s standing in terms of travel and tourism, Sharjah Airport has concluded its participation in Matka Nordic Travel Fair 2020, a leading international travel industry event held in Helsinki, Finland from January 15th to 19th.

In the presence of several officials from both the public and private sectors, Sharjah Airport participated at the Sharjah Commerce and Tourism Development Authority’s (SCTDA) stand with several government and private agencies related to Sharjah’s tourism and travel sector. SCTDA highlighted the latest services for passengers and airlines and the progress of ongoing expansion plans.

Ali Salim Al Midfa, Chairman of Sharjah Airport Authority, said “Matka Nordic Travel Fair is an important platform to update travel and tourism officials about the services and facilities that the Airport provides to users. It is also a great opportunity to communicate with regional and international officials and exchange views on the best practices in aviation, tourism and travel. A schedule full of meetings was arranged to establish and develop bilateral relations with participants from different countries.”

He pointed out that Sharjah Airport and SCTDA are working to achieve Sharjah Tourism Vision 2021, which aims to increase the inflow of tourists by harnessing Sharjah’s full potential and attracting tourists from different markets.

WAM