Sharjah24: According to the issued report of Sharjah Real Estate Registration Department (SRERD) about the statistics of real estate transactions in the areas of Sharjah, the real estate sector has shown a significant growth during Q-3 of 2021, as the monetary value of real estate transactions amounted to AED 5.7 billion by the end of September, through 16,781 transactions. These numbers marked a growth rate of 22.7% compared to the same period last year, while the volume of area circulated in sales transactions amounted to about 16.5 million square feet.
His Excellency Abdulaziz Ahmed Al Shamsi, Director General of Sharjah Real Estate Registration Department, stated that “the real estate sector in the emirate has returned to its previous situation before the pandemic, thanks to the great support received from His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, Chairman of the Executive Council of Sharjah, in addition to the series of measures and incentives taken by our wise government aimed at encouraging investment, as the Emirate of Sharjah has become, thanks to this generous sponsorship, an attractive environment for investors from inside and outside the country as this report explains.”
Al Shamsi also explained that "life is returning to normalcy in Sharjah after recovering from COVID-19 pandemic and the damage it has caused to various economic sectors in the world," noting that "the great growth that has been achieved in the real estate sector in Sharjah reflects this recovery and proves the confidence of investors in the real estate market, especially after the series of economic incentives and facilities launched by the Executive Council in November of 2020, which contributed to the continuation of the increase in the volume of real estate transactions compared to the previous year.”
The main branch accounts for 94.7% of the monetary value of real estate transactions
The main branch accounted for 94.7% of the total monetary value of real estate transactions recorded in the emirate, while the monetary value in other branches accounted for 5.3% of the total monetary value during Q-3 of 2021. The Central Region branch achieved a monetary value rate of 3.6%, while the monetary value rate in Khorfakkan branch amounted to 0.5%. Moreover, Dibba Al-Hisn branch recorded 0.2%, and as for Kalba branch, it accounted for 1% of the total monetary value.
Transactions’ Classification
There is a remarkable increase in the department's total transactions during Q-3 of 2021, compared to the same period last year, which indicates the withdrawal of the COVID-19 crisis, where the increase in total transactions reached 12.9%.
The ownership deed transactions increased by 34.4% compared to the same period last year, and sales transactions increased as well with 52.5% compared to the same period last year, which indicates investors' interest for investment in the emirate.
The ownership certificates transactions topped all other transactions, amounting to 9,629 transactions, followed by ownership deed transactions with 4,758 transactions, then comes the transactions of initial sales contracts with 1,160 transactions, and mortgage transactions with 990 transactions, while the valuation transactions came in last place with 244 transactions.
Mortgage Transactions
The total number of mortgage transactions in the various areas of Sharjah during Q-3 of 2021 amounted to 990 transactions, with a value of AED 2.4 billion.
Transactions Sales as per area
The number of sales transactions in the various regions of the emirate during Q-3 of 2021 recorded 1,662, with an increase of 52.5% compared to the same period last year. Most sales transactions took place in Sharjah with a number of 1,542 transactions which were in 93 different areas of Sharjah, amounting to AED 2.2 billion. In addition, 64% of sales transactions were confined to five areas: Al Khan, Muwailih Commercial, Al Rigaibah, Al Saja’a Industrial and Hoshi, all through 987 transactions, while the remaining 36% of sales transactions were distributed over 88 districts.
The sales transactions in the central region were 42 transactions amounting to AED 40.2 million, and distributed over 20 areas, and were concentrated in Al- Malha which accounted for 28.6% of the total sales transactions which were made through 12 transactions, while the remaining 30 transactions were distributed over other areas in the central region.
As for the city of Khorfakkan, the sales transactions reached 24 transactions worth AED 12 million. Al Harai industrial and Al Harai commercial areas accounted for 46% of the sales transactions in the city, while the remaining 13 transactions were distributed among 9 other areas in the city.
Regarding sales transactions in the city of Dibba Al-Hisn, they were 6 transactions which worth AED 4.3 million, distributed over the city areas and mainly in Hay Alshamali which recorded 3 sales transactions that constituted 50% of the total number of sales transactions in the city.
Moreover, the city of Kalba carried out 48 sales transactions amounting to AED 27.6 million, distributed over the city, and particularly in the Industrial and Al Saf areas where the percentage of sales transactions reached 43.8% of the total sales transactions in the city with 21 transactions. The rest 27 transactions were distributed across 15 areas in Kalba.
Usufruct Transactions
The number of Usufruct sale transactions in Sharjah during Q-3 of 2021, reached 80 transactions, with a value of AED 105 million, led by Al Khan area where 40 sales transactions were carried out, with a value of AED 37.9 million.
Residential transactions continue to lead
When classifying sales transactions by the type of property, residential transactions accounted for the largest share, with 1,262 transactions, and a rate of 76% during Q-3 of 2021. The industrial transactions came in second place with 206 transactions rating 12.4%, followed by commercial transactions with 152 transaction and a rate of 9.1%. Finally came the agricultural transactions with 42 transactions, which accounts for 2.5%.
Investors from 50 nationalities
During Q-3 of 2021, investors of 50 nationalities invested Sharjah. The investments of GCC citizens, including Emiratis, amounted to about AED 4.5 billion dirhams, with 4,874 properties. Furthermore, the investment of citizens of other countries, including the Arab countries, amounted to AED 1.2 billion for 1042 properties.
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