Sharjah logs Dhs2.8 billion in real estate transactions during August

The Sharjah Real Estate Registration Department has issued its report on real estate trading for August 2024. According to the report, real estate transactions across the emirate amounted to Dhs2.8 billion, with 3,055 transactions covering seven million square feet of land.

The results confirm that Sharjah’s real estate environment continues to grow with strong momentum, making it a safe and fruitful haven for capital owners and elite investors. These investors seek optimal real estate products that yield profitable returns in both the short and long term.

In detail, the statistics show that a total of 3,055 transactions were carried out during the period. Sales transactions accounted for 1,054, representing 34.5 percent of the total, while mortgage transactions reached 342, representing 11.2 percent of the total, with a value of Dhs677 million. Other transactions totalled 1,659, representing 54.3 percent of the total number of transactions.

Sales transactions took place in 105 areas across various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. Among the properties traded were 403 vacant lands, 242 built-in lands, and 409 sub-divided towers.

Sales transactions in Sharjah city totalled 948, with the Muwailih Commercial area leading with 271 transactions, followed by Tilal with 86, Al-Khan with 83, and Rawdat Al-Qart with 77 transactions.

In terms of cash trading volume, Muwailih Commercial also topped the list with Dhs238.5 million, followed by Tilal with Dhs136.7 million, Al-Mamzar with Dhs89.9 million, and Al-Sajaa Industrial with Dhs89.3 million.

In the central region, sales transactions totalled 78, with Al-Qasimia City accounting for 52 transactions and recording the highest cash trading volume of Dhs30 million.

In Khorfakkan, there were 12 sales transactions, with Al-Harai Industrial District and Al-Harai Commercial District leading with three transactions each. Al-Gharb District recorded the highest cash trading volume, with Dhs1.6 million.

In Kalba, there were 16 sales transactions, with Kalba Commercial and Al-Sur 4 each accounting for three transactions. Al-Sur 1 recorded the highest cash trading volume, with Dhs4.1 million.

WAM