Sharjah 24: Sharjah has witnessed a remarkable real estate movement during February 2023, with a total AED 2.2 billion worth of transactions, which reflects the continued growth and prosperity of the real estate sector in the emirate, and its success in attracting investors from around the world.
The "Mortgage Movement Report" issued by Sharjah Real Estate Registration Department revealed that 2,207 transactions were recorded in various regions of the emirate during the past month, while the total traded areas in Sharjah reached 10.3 million square feet during the above-mentioned period.
Economic stability and competitive advantages attract investors
The high real estate transactions during February confirm the importance of the competitive advantages offered by the emirate of Sharjah to local, Arab and foreign investors. This comes as a result of the sustainable development plans set by the emirate within the framework of the economic diversification policy, which is adopted by the wise government to build a strong, sustainable and diversified economy.
Under the wise government directives to provide an incubating environment for real estate investment, additional impetus were given to support the growth of this vital sector in the Emirate. This contributed to establishing an economic stability in Sharjah, which in turn resulted in strengthening Sharjah’s position as a leading global destination for investment in the real estate sector and making it an attractive destination for investors from inside and outside the UAE.
The department executed 2,207 transactions
Sharjah Real Estate Registration Department statistics showed that the total number of transactions executed during February reached 2,207. The number of sales transactions amounted to 640 transactions, or 29% of the total number of transactions, and the number of mortgage transactions reached 295 transactions, which is 13.4% of the total transactions, with a total value of AED 385 million. While the remaining transactions of amounted to 1,272 transactions, which is 57.6% of the total transactions.
Sale transactions
The sale transactions took place in 94 areas distributed over the various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands.
Regarding the type of real estate transactions, 191 lands were traded, while the built-land sales amounted to 193 transactions. As for the number of units sold in towers, it amounted to 256 transactions out of the total transactions.
Muwailih Commercial is the highest sales traffic areas
The report also showed that Muwailih commercial area topped the list of areas with the highest number of sales transactions in Sharjah with a total of 158 transactions, followed by Al Khan area with 62 transactions, Al-Muzayri'a area with 42 transactions, and then Al-Tarfa area with 38 transactions.
As for the highest traded areas in the matter of monetary value, Muwailih commercial area topped the list with a turnover of AED 415 million, followed by Al Qarayen 3 with a volume of AED 286 million, Al Nahda with a turnover of AED 118 million, then Al Sajaa Industrial area with AED 77 million.
As for the transactions executed in the central region of Sharjah, they were concentrated in Al Qasimia area with 16 transactions, with a trading volume of AED 6.6 million.
While in Khorfakkan, Al Mudaifi was the highest trading area with 3 transactions, while the Hatin region recorded the highest volume of transactions with a total of AED 4.8 million.
In Kalba, Al-Saaf region witnessed two sale transactions, while Al-Musalla region recorded the highest volume of transactions amounted to AED 2.4 million.
For an optimal experience, please
