Sharjah 24: According to the monthly report issued by Sharjah Real Estate Registration Department, Sharjah has recorded real estate transactions amounting to a total of AED 1.9 billion during July 2023.
The total transactions executed by the department during the past month amounted to 2,783 which of 684 were sales transactions across 96 areas, distributed over the various regions of the emirate, and with more than 6 million square feet of traded area.
Such growth and development in the real estate market in Sharjah throughout the years, is due to the strategy of the Sharjah government to diversify sources of income, making it an important tributary of the economy in the emirate. It also indicates the strength of this market and its attractiveness to local, Arab, and foreign investors alike.
In addition, it is expected that the real estate market in Sharjah will witness further growth during the coming months, because of the many investment opportunities offered by the emirate, especially with the introduction of more new projects that are planned and implemented in accordance with the highest international standards. Such projects aim to build integrated services communities, with a strong infrastructure which contributes to enhancing and raising the quality of life in Sharjah.
Executing 2,783 transactions
The Department's statistics showed that the total number of transactions executed during July reached 2,783 transactions, as the number of sales transactions amounted to 684 transactions, or 24.6% of the total number of transactions. Moreover, the number of mortgage transactions amounted to 447 transactions, which is 16.1% of the total number of transactions, with a value of AED 420.1 million. Other transactions accounted for 59.3%, with 1,652 different transactions.
Real estate transactions in 96 areas of the emirate
The sales transactions took place in 96 areas distributed over the various cities and regions of the emirate of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. With regard to the type of areas traded, 180 lands were traded. The built-in land amounted to 256 transactions, while the number of subdivided towers reached 248 transactions out of the total number of transactions.
Muwaileh Commercial has the highest volume of cash trading
The report also showed that “Mezair’ah” topped the list of areas with the highest number of sales transactions in Sharjah with 132 transactions, followed by “Muwaileh Commercial” area with 102 transactions, then “Al-Khan” area with 78 transactions, and “Al-Majaz 3” area with 36 transactions.
As for the areas with the highest volume in terms of monetary value, “Muwaileh Commercial” area topped the list with a value of AED 82.8 million, followed by “Al-Sajaa Industrial” area with a value of AED 57.8 million, then “Al-Rigaibah” area with AED 42.8 million, and “Al-Khan” area with AED 38.6 million.
As for the transactions executed in the central region, it was mostly focused in “Al-Qasimia” and “Al-Blida” areas with 8 transactions each, while the highest area in monetary value was “Al-Blida” with a value of AED 15.5 million.
In Khorfakkan, the “Al-Haray industrial” and “Al-Haray Residential” areas recorded 3 transactions each, while “Al-Mudaifi” was highest area in terms of monetary value with AED 1.4 million.
Finally, in the city of Kalba, the commercial areas of “Sur Kalba”, Sur Kalba and “Al-Saf” recorded 3 transactions each, while “Al-Saf” area had the highest monetary value, which amounted to AED 5.7 million.
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