Sharjah’s property sector zooms

Gulf Today, Staff Reporter

Results of the monthly report for the month of July 2022, issued by the Sharjah Real Estate Registration Department (SRERD), revealed total transactions carried out during the past month amounted to 2,417 transactions across 71 different areas distributed over the Emirate of Sharjah.

The transactions are broken down as follows: 588 sales transactions, 338 mortgage transactions, and 1,491 classified as other miscellaneous transactions.

The report showed percentages of real estate transactions; sales transactions were recorded at 24.3%, while mortgage and other miscellaneous transactions hit 14% and 61.7%, respectively.

Abdulaziz Rashid Al Saleh, Director of the Sharjah Real Estate Registration Department, said: “Total trading volume this past July 2022 amounted to Dhs 1.4 billion; the number of mortgage transactions reached 338 in total, valued at Dhs 487 million, solidifying that the department is working consistently on its vision to increase investments in Sharjah. Furthermore, the (SRERD) seeks to be a strong and confident presence in the investment and real estate sector, by implementing its mission through various targeted programs and strategies, in addition to working diligently to activate various opportunistic channels and mechanisms of communication and interaction with investors. We hope to continue contributing to quality real estate provisions in Sharjah, and are working hard to enhance attracting investment to this sector, to ultimately push the wheel of economic growth to cover wider surrounding areas.”

Abdulaziz Rashid Al Saleh added: “The results of July 2022 confirm the accelerated progress, growth, and demand for real estate in the Emirate of Sharjah. The (SRERD) upholds its vision of transparency on all fronts, as it aligns with our institutional volumes. We commit to striving towards excellence in line with Sharjah’s economic vision to witness a remarkable turnout from investors, and to set the stage for showcasing Sharjah as a safe and comfortable locality to thrive and invest in.”