Sharjah reports realty transactions worth Dhs12.2 billion in first half of 2021

According to the statistical report of the first half of 2021 regarding the real estate transactions issued by Sharjah Real Estate Registration Department, Sharjah’s real estate sector has achieved a total value of transactions worth Dhs12.2 billion with a total number of 40,346 transactions, marking a 40.5 per cent increase in total transactions for the first half of this year compared to the same period last year.

Moreover, the total area covered in sales transactions was 75.2 million square feet.

The results showed an increase in the total value of transactions by 96.1 per cent in comparison to the same period in 2020, and that is due to the return of business after the relative decline of the “Covid-19” pandemic.

The economic facilitations and incentives launched by the Executive Board in November 2020 increased investors’ confidence in the real estate market in Sharjah. In addition, February has witnessed a major real estate acquisition worth Dhs690 million between real estate developers operating in Sharjah for establishing a luxurious residential project. This acquisition is a sign on the recovery of the real estate sector in Sharjah.

As for the number of transactions, and despite the continuing pandemic, the report shows a remarkable increase in the department’s total transactions during the first half of 2021, compared to the same period last year. The department has made great efforts in providing all its transactions, while considering the safety and security measures for employees and customers alike.

Furthermore, the Department has provided online services for some transactions, and a pre-appointment reservation system was implemented to complete the transactions that require the presence of customers, taking into account the applicable preventive and precautionary measures.

Abdulaziz Ahmed Al Shamsi, General Manager of Sharjah Real Estate Registration Department, said: The real estate sector has begun to recover and overcome the economic effects of the pandemic, thanks to the emirate’s willingness to attract more investments.

Al Shamsi also explained that the Department seeks to enhance a competitive business environment, in order to achieve a number of objectives aimed at encouraging investment in Sharjah, and to attract new investors from different countries of the world. This will contribute to revitalizing the local economy, advancing the wheel of economic development, and enhancing the emirate’s position on the map of local, regional, and global investment.

Moreover, he emphasised the department’s willingness to continue improving the business environment, by facilitating and simplifying the practice of business in the emirate. Furthermore, the department is striving to facilitate the barriers faced by investors, by providing them with more incentives, and implementing initiatives that increase the chances of the success of their investments and support its sustainable growth and expansion.

The transactions of ownership certificates ranked first with a total of 25,601, followed by the ownership deed transactions with a total 10,444, subsequently the transactions of initial sales contract with 2,289. Moreover, the mortgage transactions recorded 1,457, and the valuation transactions with a total of 503 transactions, while the broker’s card transactions came last with only 52 transactions.

During the first half of this year, the total mortgage transactions in Sharjah amounted to 1,457 transactions, valued at Dhs5 billion, with a change of 25 per cent compared to the same period last year.

Transactions Sales as per region

The number of sales transactions in the various regions of the emirate of Sharjah during the first half of 2021 has reached 2,863 transactions. The largest share was acquired by Sharjah city with 2,546 transactions, covered in 102 areas with a value of Dhs4.9 billion.

The leading areas were Al Khan, Al Rigaibah, Hoshi, Al Nahda, and Al Majaz 3, with 1,435 transactions that accounted for 56.4 per cent of all the transactions in Sharjah. As an example, the number of sales transactions in the Al Khan has reached 398 transactions, accounting for 15.6 per cent of the total number of transactions conducted in the city.

As for the Central Region, the number of sales transactions reached 94 transactions, which took place in 28 different areas valued at Dhs82.3 million. These transactions were concentrated in Tayybah 2 and Al Malha, and they were accounted for 29.8 per cent of the total sales transactions by 28 transactions. While the other 66 sales transactions were distributed in other 26 areas.