Sharjah’s real estate transactions reached Dhs2.6 billion in November

According to the monthly real estate transactions report issued by Sharjah Real Estate Registration Department, the volume of real estate transactions in the various regions and cities of Sharjah has reached Dhs2.6 billion during November 2023.

Moreover, the total number of transactions was 4,079, while the total volume of the area traded in sales transactions reached 10.6 million square feet during the same period.

Such results confirm that the Emirate of Sharjah is a preferred destination for foreign and Arab investors due to the safe and attractive investment environment provided for business, which is evident in the continuous increase in foreign investments in the country across all sectors, especially the real estate sector. In addition, Sharjah offers new projects with competitive prices and various facilities, all of which contribute to meeting the aspirations of various segments, whether those looking for profit and investment opportunities, or those planning to reside in the emirate.

Classification of transactions: Statistics from the report revealed that the total number of transactions has reached 4,079, with the number of sales transactions reaching 822, representing 20.2% of the total number of transactions. Additionally, the number of mortgage transactions was 327, representing 8% of the total number of transactions with a value of AED 434.5 million. As for the remaining trading transactions, they amounted to 2,930, representing 71.8% of the total number of transactions.

The Sales transactions took place in 102 areas distributed across the various regions of Sharjah. These properties included residential, commercial, industrial, and agricultural real estate. As for the type of real estate, 330 lands were traded, and built-in land transactions amounted to 256, while the number of transactions for sub-divided towers reached 236, out of the total number of sales transactions.

Muwailih Commercial: The report also revealed that “Muwailih Commercial” area topped the list of areas with the highest number of sales transactions, reaching 130 transactions, followed by “Al-Mazairah” area with 77 transactions, “Al-Khan” area with 50 transactions, and “Rawdat Al-Qart” area with 44 transactions.

As for the most active areas in terms of trading volume, “Muwailih Commercial” area also took the lead, with a trading volume of Dhs159.2 million, followed by “Al-Sajaa Industrial” area with Dhs146.2 million, “Al-Khan” area with Dhs66 million, and “Al-Majaz 3” area with Dhs61.6 millions of trading volume.

In the Central Region, “Al-Madina Al-Qasimia” had the highest number of transactions and trading volume with 35 transactions and Dhs16.8 million trading volume.

As for the city of Khor Fakkan, “Hayawa 4” district topped the list with 6 transactions, and a trading volume of Dhs 7.1 million.

Finally, in the city of Kalba, “Sur Kalba Commercial” came first in terms of the number of transactions, with 6 transactions, while “Al-Turaif 5” area was the highest area in terms of real estate trading volume, which reached Dhs1.8 million.

Earlier, Sharjah has recorded real estate transactions worth Dhs1.9 billion in July 2023, according to the monthly report issued by Sharjah Real Estate Registration Department.

The department executed a total of 2,783 transactions of which 684 were sales transactions across 96 areas, distributed over the various regions of the emirate, and with more than 6 million square feet of traded area.

Such growth and development in the real estate market in Sharjah throughout the years, are due to the strategy of the Sharjah government to diversify sources of income, making it an important tributary of the economy in the emirate.

In addition, it is expected that the real estate market in Sharjah will witness further growth during the coming months, thanks to the many investment opportunities offered by the emirate, especially with the introduction of more new projects that are planned and implemented in accordance with the highest international standards.

The Department’s statistics showed that the total number of transactions executed in July reached 2,783, as the number of sales transactions were 684, or 24.6 per cent of the total number of transactions.

Moreover, the number of mortgage transactions were 447, constituting 16.1 percent of the total number of transactions with a value of Dhs420.1 million. Other transactions accounted for 59.3 percent, with 1,652 different transactions.

The sales transactions took place in 96 areas distributed over various cities and regions of the emirate of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. With regard to the type of areas traded, there were 180 land transactions.

The report also showed that “Mezair’ah” topped the list of areas with the highest number of sales transactions in Sharjah with 132 transactions, followed by “Muwaileh Commercial” area with 102 transactions, then “Al-Khan” area with 78 transactions, and “Al-Majaz 3” area with 36 transactions.

As for the areas with the highest volume in terms of monetary value, “Muwaileh Commercial” area topped the list with a value of Dhs82.8 million, followed by “Al-Sajaa Industrial” area with a value of Dhs57.8 million, then “Al-Rigaibah” area with Dhs42.8 million, and “Al-Khan” area with Dhs38.6 million.

As for the transactions executed in the central region, it was mostly focused in “Al-Qasimia” and “Al-Blida” areas with 8 transactions each, while the highest area in monetary value was “Al-Blida” with a value of Dhs15.5 million.

In Khor Fakkan, the Al-Haray industrial and Al-Haray Residential areas recorded three transactions each, while Al-Mudaifi recorded the highest monetary value with Dhs1.4 million.

Finally, in the city of Kalba, the commercial areas of Sur Kalba, Sur Kalba and Al-Saf recorded three transactions each, while Al-Saf area had the highest monetary value, which amounted to Dhs5.7 million.