Sharjah24: The Emirate of Sharjah witnessed a remarkable Real Estate activity during last May of 2023, with a total value of AED 2.4 billion, which proved Sharjah's position as an ideal destination for investors, businessmen, and families looking for a safe, prosperous, and stable environment.
The Real Estate and Mortgage Report issued by Sharjah Real Estate Registration Department (SRERD) revealed that 3,540 transactions were recorded in various regions and cities of the Emirate, as the total volume of the area traded in Sharjah reached 8.7million square feet during the aforementioned period.
The sector is developing and thriving
The results of the report also indicated that the Real Estate sector has maintained its leading position as a preferred choice for those wishing to buy or invest in the emirate. In addition, there was an increased level of demand for housing in the various regions and areas of Sharjah, as it is characterized by its variety in terms of geographical location, and the diversity of options with suitable living costs and infrastructure. The developed and integrated infrastructure, supported by a high level of investment returns in real estate units, was reflected in the growth of the desire of citizens, residents, and investors to own land and new housing units in order to settle and invest in an environment which provides security, peace, growth, and prosperity.
Moreover, the results of Real Estate transactions during the last month of May confirm the importance of the competitive advantages offered by Sharjah to local, Arab, and foreign investors, in line with the sustainable development plans set by the emirate, within the framework of the economic diversification policy adopted by the wise government to build a strong, sustainable, and expanded economy.
The Department carried out 3,540 transactions
The Department's statistics indicated that the total number of transactions executed during May reached 3,540 transactions, as the number of sales amounted to 995 transactions, or 28.1% of the total number of transactions. In addition, the number of mortgage transactions amounted to 733, which is 20.7% of the total transactions, and with a total value of AED 709.7 million. While the remaining transactions of other disposals amounted to 1,812 transactions, or 51.2% of the total number of transactions.
Sales transactions across 106 areas
The sales transactions took place in 106 areas distributed among various parts and regions of Sharjah, while these properties included residential, commercial, industrial, and agricultural lands. With regard to the type of traded Real Estate, 295 lands were traded, and the number of built in land transactions reached 300, while the number of transactions of units sold in towers reached 400 out of the total number of transactions.
Muwaileh Commercial area recorded the largest volume in terms of monetary value
The report also showed that Mezair`ah area topped the list of areas with the highest number of sales transactions in Sharjah with 158 transactions, followed by Muwaileh Commercial area with 155 transactions, Al-Khan area with 87 transactions, and Al-Mamzar area with 74 transactions.
As for the areas with largest volume in terms of monetary value, Muwaileh Commercial area topped the list with a value of AED 160.6 million, followed by Al-Nahda with a value of AED 75.8 million, the Industrial Area No. 12 with a value of AED 75.5 million, and Al-Sajaa Industrial area with AED 63.2 million.
As for the transactions executed in the central region, they were focused on Al Qasimiah with 43 transactions, and a value of AED 23.7 million.
In Khorfakkan, the areas of Al Baradi 2, Al Baradi 7, Al Mudeife 3, and Al-Zubara witnessed two transactions for each of these areas, while Al Sharg area was the highest area in terms of value which reached AED 3.8 million.
As for Kalba, Industrial area and Kalba Industrial area topped with 4 transactions each, while the Industrial Area recorded the highest value, which amounted to AED 1.9 million.
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