Sarjah24: In a report issued by Sharjah Real Estate Registration Department about the real estate transactions in the regions and areas of the emirate, it was revealed that the volume of cash transactions in the Central and Eastern regions reached AED 839 million. These transactions were carried out through the Department’s four branches; the Central region branch, Khorfakkan, Dibba Al-Hisn, and Kalba branch, with a total number of 19,658 transactions and 20 million square feet of area traded in sales transactions.

Omar Al-Mansouri, Director of Branches Department at the Sharjah Real Estate Registration Department, stated that “the real estate sector in the Central and Eastern regions continues to grow at an upward pace, while constituting a major attraction factor for Arab and foreign investors. This success comes in light of the availability of advanced infrastructure and legislation, the economic stability that characterizes the emirate, in addition to its prominent strategic location, all of which enhance the emirate's position as a leading global destination for real estate investment.

Moreover, the issued report confirms the importance of the competitive advantages offered by the Sharjah government to investors, in line with the sustainable development plans set within the framework of the economic diversification policy adopted by the wise government in order to build the economy of tomorrow”. the regions and cities of Sharjah have become a preferred destination for settlement and tourism in the region, thanks to the directives of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, may God protect him, and the follow-up of Sheikh Sultan bin Mohammed bin Sultan Al Qasimi,  Crown Prince, Deputy Ruler of Sharjah, and Chairman of the Executive Council of Sharjah, and their great keenness to consolidate the emirate’s distinguished position as a destination for living and working for families and people seeking to combine authenticity and modernity in their lifestyles”.  

Branches trading volumes
In detail, Al-Mansouri stated that the trading volume in the four branches constituted 4.4% of the total trading volume in the real estate sector in the emirate. The total cash trading volume in the Central region reached AED 376.3 million, representing 2% of the total trading volume, while it reached AED 274.8 million in the city of Khor Fakkan, at a rate of 1.4%. Moreover, in the city of Kalba, the total trading volume reached AED 172.3 million, at a rate of 0.9%, while it reached about AED 15.6 million in the city of Dibba Al-Hisn, at a rate of 0.1% of the total trading volume.

Branches mortgage transactions
According to the report, Al-Mansouri explained that the Department’s branches carried out 423 mortgage transactions, and with a value of AED 365 million.

Sales transactions
Al-Mansouri said that the number of sales transactions in the Central region during the same period has reached 300 transactions which took place in 39 different regions, and with a total value of AED 260.5 million. Al-Qasimia City accounted for the largest share of these transactions, with 120 transactions, which represented 40% of the total sales transactions, followed by the Blida region with 28, the Tawi Hamdah region with 16, and then the Thumama region with 15 transactions.

In addition, the number of transactions in the city of Khorfakkan reached 132 transactions, which took place in 29 areas, and with a total value amounting to AED 98.8 million. Al-Harai Commercial and Industrial areas recorded 15 transactions each, out of the total sales transactions in the city, followed by Al-Mudaifi area with 13, and finally Al-Bardi 2 area with 12 transactions.

As for the city of Kalba, the transactions reached 156 in 32 areas of the city, with a value of AED 80.4 million. 18.6% of these transactions were in Kalba Industrial area with 29 transactions, followed by the Industrial area with 24 transactions, then Al-Saf area with 15 transactions, and finally Sur Kalba Commercial area with 14 transactions. 

In conclusion, Al-Mansouri revealed that sales transactions in the city of Dibba Al-Hisn were distributed among 4 areas, with a total of 20 transactions amounting to AED 11.9 million. 65% of Dibba Al-Hisn transactions took place in Al-Shamali which recorded 13 transactions.