Sharjah real estate transactions amounted 3.5 billion in February

March 17, 2021 / 12:24 PM

Sharjah24: His Excellency Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department in Sharjah, revealed that the volume of real estate transactions in the emirate reached 1818 transactions with a value of AED 3.5 billion during last February.

His Excellency explained that the number of sales transactions in the emirate amounted to 457 transactions, which accounted for 25.1% of the total number of transactions, while the number of mortgage transactions reached 244 transactions, which represented 13.4% of the total number of transactions. The remaining 61.5% was for other transactions which reached 1117 transactions.

Regarding the number of transactions according to the type of property, Al Shamsi stated that the number of Land Sales Transactions in Sharjah amounted to 170, while the number of Built-in Land Sales Transactions reached 140, and the number of Units Sold in Towers reached 147 transactions in February. Moreover, about the area which ranked the highest in terms of sales transactions, H.E said that Al Rugaiba area recorded the highest number with 66 sales transactions.

Furthermore, Al Shamsi noted that in February, a major real estate acquisition deal was concluded between real estate development companies operating in the emirate, at a value of AED 690 million, aiming to establish a luxurious residential real estate project on an area of 19 million square feet.

In addition, His Excellency praised the turnout of women and businesswomen to invest in the smiling emirate, noting that the value of investments made by women in real estate sector reached "AED one billion" in 2020.