UAEReal Estate

Real estate transactions in Sharjah rise to $1.09 million during May

According to the “Real Estate Transactions Movement” report issued by Sharjah Real Estate Registration Department, the trading volume of real estate transactions in the emirate reached Dhs4 billion during May 2024.

It is a noticeable increase compared to the previous month (April), which recorded a trading volume of Dhs1.7 billion, and this shows the constant monthly growth in this sector in Sharjah.

The report also presented the total real estate transactions,which reached 9,454, with sales transactions covering 13.3 million square feet during the same period.

Over the past years, the real estate market in Sharjah has witnessed a remarkable development and a continuous prosperity, making it at the heart of the real estate map in the region and the world.

Due to the sector’s readiness, sustainability, and ability to compete, the emirate confirms its leadership and ability to provide an ideal real estate environment which nurtures real estate investment, contributes to attracting more local, Arab, and foreign investors, bringing new capital for the market, and achieving economic diversity in the emirate.

In the report details, the total number of transactions reached 9,454, with the number of sales transactions reaching 1,250, which represented 13.2 per cent of the total number of transactions.

In addition, the number of mortgage transactions reached 576, representing 6.1% of the total transactions, and with a total value of Dhs1.4 billion, while the other transactions amounted to 7,628, which represented 80.7% of the total number of transactions.

The sales transactions took place in 111 areas distributed across various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural. As for the type of traded real estate, there were 446 lands, 432 of units in towers, and 372 transactions for built-in lands.

The total sales transactions in the city of Sharjah have reached 1,122, and “Muwailih Commercial” area continues to lead the list of areas with the highest number of sales transactions in the city, with 280 transactions, followed by “Rawdat Al-Qart” area with 135, “Tilal” area with 127, and “Al-Khan” area with 75 transactions.

As for the highest areas in terms of trading volume, “Muwailih Commercial” area also came first, with a trading value amounting to Dhs399.7 million, followed by “Tilal” area with Dhs196.3 million, “Um Fanain” with Dhs94.6 million, and “Al-Khalidiya” area with Dhs84.5 million. In the central region, the total sales transactions amounted to 88, most of which were concentrated in “Al-Madina Al-Qasimia”, with 39 transactions, which also recorded the highest area in terms trading volume in the city, reaching Dhs22.8 million.

As for Khorfakkan, the sales transactions reached 28. “Al-Bardi 4” topped with 10 transactions and it was also the highest area in trading volume, which amounted to Dhs8 million.

Source: gulftoday

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