Sharjah records Dhs1.7 billion in real estate transactions in March

Staff Reporter, Gulf Today

The real estate sector in Sharjah continues its thriving activity during March 2023, as the volume of real estate transactions in the emirate reached Dhs 1.7 billion. This reflects the continued growth and prosperity of the real estate sector in Sharjah, and its success in building and ensuring a motivating, attracting, and supportive environment for business and investment. By providing the appropriate conditions for investors, and the best environment for customers from inside and outside the UAE, Sharjah continues to strengthen its regional and global position as an attractive destination for investment.

The “Mortgage Movement Report” issued by Sharjah Real Estate Registration Department (SRERD) has indicated that 3,386 transactions were recorded in various areas across the emirate during the past month, as the total volume of traded land in sales transactions reached more than 5,1 million square feet.

These outstanding numbers proves the important role which the real estate sector plays in the economy of the smiling emirate, and confirms its success over the past years in attracting local, Arab, and foreign investors, as Sharjah has become a preferred destination due to its strategic location, social security, economic stability, solid infrastructure, and unique competitive advantages. These achievements follow a series of incentives and wise decisions taken by the government of Sharjah during the past few years, in addition to the continuation of the implementing new and vital projects, such as the development projects that took place in Sharjah recently, which proves the stability of the economic situation in the emirate, and its continued growth and prosperity thanks to the great support given by our wise leadership.

Sharjah Real Estate Registration Department statistics has indicated that the total number of transactions executed during March has reached 3,386 transactions, as the number of sale transactions amounted to 595, representing 17.6% of the total transactions, and the total mortgage transactions amounted to 319, or 9.4% of the total transactions, with a total value of Dhs 838.6 million, while other transactions were 2,472, representing 73% of the total number of transactions.

The Sale Transactions were distributed across 88 different areas and regions in the smiling emirate. These properties included residential, commercial, industrial, and agricultural lands.

With regard to the type of real estate transactions, 157 lands were traded, while the built-land sales amounted to 207 transactions. As for the number of units sold in towers, it amounted to 231 of the total transactions.

Muwailih Commercial is one of the highest sales traffic areas in the emirate.  The report also showed that Muwailih commercial area topped the list of sales traffic areas by recording the highest number of sales transactions in Sharjah with 116 transactions. Mazairah and Al-Khan areas came next on the list with 68 transactions each, followed by Al-Rigaibah area with 38 transactions.

As for the highest traded areas in with regards to monetary value, Muwailih commercial area topped the list with a turnover of Dhs 140.8 million, followed by Al-Sajaa Industrial area with a volume of Dhs 75.2 million, Al-Khan area with a turnover Dhs 69.8 million, and then Al-Nahda area with a volume of Dhs 52.4 million.

The transactions executed in the central region were mostly focused in Al-Qasimia area with 3 transactions, while the highest area in cash trading volume was in Blida region, with a trading volume reaching Dhs 6.4 million.

While in Khorfakkan, the East area recorded the highest number of trading with 3 transactions, while the Al-Mudaifi area had the highest volume of transactions amounting to Dhs 3.7 million.

As for Kalba region, Kalba and Al-Khuwair industrial areas witnessed 3 sale transactions each, while Al-Baraha was the highest area in terms of trading volume, which reached Dhs 3 million.

Meanwhile, the final evaluation phase was launched for the projects participating in the 11th cycle  of  Sharjah Sustainability Award.  The award is organized annually by the Environment and Protected Areas Authority in Sharjah (EPAA) and has this year attracted the participation of 311 male and female students from universities, and the number of schools that participated in the award reached 196 public and private schools across UAE.

Experts from the Emirates Schools Establishment )ESE(, Sharjah Private  Education Authority, Sharjah Electricity, Water, Gas Authority (SEWA), , Sharjah City for Humanitarian Services, University of Sharjah, and the American University in Sharjah, Skyline University College, Arabic Language Protection Association, and Sharjah Research Technology and Innovation Park participated in the evaluation process.