Volume of realty transactions in Sharjah hits Dhs1.7b during April

According to the “Real Estate Transactions Report” issued by Sharjah Real Estate Registration Department, it was revealed that the volume of real estate transactions in various regions and cities of Sharjah has reached Dhs1.7 billion during April 2024, with a total 1,632 transactions across 6.5 million square feet of total sales transaction area.

The report data reflect and prove the growing confidence in Sharjah real estate, the attractiveness of its investment environment, and the continuous development.

The emirate has proven itself to be one of the most attractive global destinations for investors.

In details, the statistical report show that the total number of transactions during April reached 1,632, with 579 in sales transactions, representing 35.5 per cent of the total number of transactions.

As for mortgage transactions, it reached 197 representing 12.1 per cent of the total transactions, with a total value of Dhs402.2 million. The remaining transactions amounted to 856, representing 52.4 per cent of the total transactions.

Sales transactions took place in 89 areas distributed across various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. As for the type of traded real estate, there were 253 lands, 185 of units in towers, and 141 transactions for built-in lands.

Moreover, the total number of sales transactions in the city of Sharjah reached 527, with the highest number of sales transactions in “Muwailih Commercial” area with 114 transactions, followed by “Rawdat Al-Qart” area with 55 transactions, “Al-Khan” area with 45, and “Hoshi” area with 32 transactions.

In terms of trading volume, “Muwailih Commercial” area also topped the list, with a trading volume of Dhs168.4 million, followed by “Al-Saja’a Industrial” area with Dhs75.1 million, “Tilal” area with Dhs66.5 million, and “Hoshi” area with Dhs48.6 million.

In the Eastern and Central regions, the total number of sales transactions reached 50, most of which were in “Al-Madina Al-Qasimia” with 18 transactions, which was also the highest region in terms of cash trading volume, which amounted to Dhs14.2 million.

Meanwhile in a report issued by Sharjah Real Estate Registration Department (Sharjah RERD), in the first week of May, showcasing the real estate performance in the regions and cities of Sharjah, it was revealed that the cash trading volume has reached Dhs332.4 million, and were carried out through the department’s four branches in Al-Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba. Moreover, the total number of transactions in these branches has reached 6,732, with a total area of 10.1 million square feet during the first quarter of 2024.

Omar Al-Mansouri, Director of Branches Department at Sharjah Real Estate Registration Department, said, “Over the past years, the real estate sector in the Central and Eastern regions has witnessed a continuous development which expanded the economic horizons and offered promising opportunities.”

“In addition, the two regions enjoy special attention from our wise government through the launch of many real estate and development projects, especially in tourism, which attracted investors from inside and outside the UAE, and was reflected in the growth and prosperity of the sector during the last period, as it is evident in the results of this report.”

Al-Mansouri added, “Sharjah government’s interest in the continuous development of infrastructure and legislation has had a positive impact in supporting and developing the real estate sector in the emirate with its regions and cities”.

In the report details, Al-Mansouri reported that the trading volume in the four branches has represented 3.3 per cent of the total trading volume of Sharjah’s real estate.

The total cash trading volume in “Al-Dhaid” branch reached Dhs146.2 million, representing 1.5 per cent of the total trading volume. While it reached Dhs114.8 million in “Khor Fakkan” branch, at a rate of 1.1 per cent, and in “Kalba”, it reached Dhs62 million, which represented 0.6 per cent.

As for “Dibba Al-Hisn” branch, it recorded Dhs9.3 million of cash trading volume, which represented 0.1 per cent of the total trading volume of the branches. Moreover, and according to the Department’s report, Al-Mansouri explained that the four branches carried out 143 mortgage transactions, with a total value of Dhs130.3 million.

As for the Sales transactions, Al-Mansouri said that “Al-Dhaid” city branch has recorded 126 transactions that took place in 27 different areas, and with a total value of Dhs120.1 million.

“Al-Madina Al-Qasimia” accounted for the largest share of these sales, with 70 transactions, which represented 55.5 per cent of the total sales transactions, while the remaining 56 transactions were distributed across other 26 areas.