Sharjah records Dhs3.6 billion in real estate deals

Gulf Today, Staff Reporter

The monthly real estate transactions report of October 2023 issued by Sharjah Real Estate Registration Department, revealed that 3,798 transactions were carried out in the various regions of the emirate., the volume of these transactions was Dhs3.6 billion with 8.2 million square feet traded. These numbers show an upward growth compared to the real estate activity in the emirate during September, in which the trading volume reached Dhs 2 billion through 2,519 transactions.

Moreover, the report also reflects the confidence of the clients in the real estate sector in the emirate, the sector’s ability to attract investors and increase the volume of their investments, and the major urban renaissance witnessed by Sharjah. Furthermore, the real estate growth during October has also confirmed the great investment incentives and opportunities, the diversity of options, and the financing facilities that the emirate provides to individuals and investors. Statistics from the report revealed that the total number of transactions carried out during the above-mentioned period has reached 3,798 transactions, with the number of sales transactions reaching 903, representing 23.8% of the total number of transactions. In addition, the number of mortgage transactions were 356, representing 9.4% of the total transactions,. The rest of the other trading transactions amounted to 2,539 transactions, which represented 66.8% of the total number of transactions.

The sales transactions took place across 100 areas distributed across various regions of the emirate, and these properties included residential, commercial, industrial, and agricultural real estate. As for the type of real estate, 279 lands were traded, and built-in land transactions amounted to 289, while the number of transactions for sub-divided towers reached 335 transactions, out of the total transactions.

 “Muwailih Commercial” area topped the list of areas with the highest number of sales transactions in Sharjah, recording 207 transactions, followed by “Al-Khan” area with 91 transactions, “Al-Mazairah” area with 84, and “Tilal” area with 70 transactions.

As for the most active areas in terms of monetary trading volume, “Muwailih Commercial” area also took the lead, with a trading volume that reached Dhs 233.6 million, followed by “Falah” area with Dhs 133.4 million of trading volume, then “Tilal” area with Dhs 67 million, and “Al-Khan” area with a trading volume of Dhs 63.9 million.

Meanwhile, Alef Group is set to make its mark at the upcoming Water, Energy, Technology, and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) 2023, reinforcing its commitment to shaping a sustainable future. The highly anticipated event, organised by the Dubai Electricity and Water Authority (DEWA), corresponds with Dubai’s vision for a sustainable future and will run from November 15th til 17th, 2023, at the Dubai World Trade Centre.

At the Alef Group pavilion, visitors may explore Alef’s cutting-edge approach to sustainable urban development. The group’s commitment to integrating renewable energy sources, sustainable materials, and revolutionary technologies has become a hallmark of its residential projects in Hayyan and Al Mamsha, Sharjah. These endeavors aim to enhance energy efficiency, reduce carbon footprints, and promote eco-conscious living; activities extend to waste management, creating green spaces, local solar energy production, electric vehicle charging stations, smart irrigation, and more.

As a further testament to Alef Group’s commitment to sustainability, Mr. Jamal Al Shaweesh, Chief Strategy Officer, will participate in a discussion panel during the event. The panel discussion will provide an opportunity to exchange ideas and insights on the future of sustainable urban development, further highlighting Alef Group’s dedication to a greener and more environmentally friendly future.

Al Shaweesh stated, “Our participation in WETEX and DSS 2023 signifies the group’s commitment to promoting sustainability in the real estate sector and creating communities that are environmentally responsible, energy-efficient, and truly future-ready.” WETEX and DSS are exceptional avenues for Alef group to showcase its residential projects, Hayyan and Al Mamsha, Sharjah, which boast seamlessly integrated solar energy and smart housing systems for energy efficiency. These exhibitions are an excellent opportunity to bolster conversation on sustainability and the vital role of the real estate industry in shaping more environmentally conscious communities.

The Alef Group, founded by the late visionary Sheikh Khalid Bin Sultan Al Qasimi in 2013, stands today as a testament to his pioneering spirit in the realm of lifestyle experience provision. Operating from its central hub in Sharjah, UAE, this privately-owned entity has carved a niche for itself as a trailblazer in the creation of premier lifestyle communities, destinations, and experiences. The group’s strategy hinges on insightful investment choices and the cultivation of strategic joint ventures, paving the way for innovation and excellence in the sector.