According to the semi-annual report on the real estate sector issued by Sharjah Real Estate Registration Department, the real estate trade in the first half of this year is the highest compared to similar periods since 2012 due to the leaps of development that the emirate has witnessed in recent years attracting the interest of investors and buyers and enhancing their confidence in the emirate’s property market, in addition to the various advantages that are unique to Sharjah.
The semi-annual report issued by the Sharjah Real Estate Registration Department reveals a number of positive indicators and shows that real estate transactions in the emirate this year have surged by 13.8%.
The total number of transactions executed during the first half of 2024 is 46,524, compared to the number of transactions – 40,876 - executed in the first half of 2023.
The various real estate transactions recorded by the department include ownership certificate transactions, initial sales contracts, ownership deeds, mortgages and valuations.
Abdulaziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department, emphasized that the remarkable qualitative developments recorded by the real estate sector are an essential part of the comprehensive and continuous economic growth scene in the emirate, and they also clearly reflect the success of the strategic plans that lead the various economic and investment sectors, in a manner that translates the vision and directives of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah and under the close watch of His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Sharjah Executive Council.
Al Shamsi pointed out that Sharjah is moving confidently towards consolidating its economic position locally, regionally and globally, through its diversified economy based on providing an attractive investment environment, establishing a solid legislative framework that protects rights and enhances investor confidence, in addition to launching sustainable development projects, and escalating urban development projects in various residential, commercial, industrial and agricultural fields.
The Director General stressed that the real estate trade statistics for the first half of this year shine light on the advantages of diversity, competitiveness and attractiveness that distinguish the emirate’s real estate market and its ability to open new windows of opportunities and spaces to attract developers, investors, brokers and business owners, as well as those wishing to own, reside and invest in the various cities and regions of Sharjah, the cultural capital of the Arab and Islamic world.
Al Shamsi pointed to the effectiveness of the direct incentives approved by the Government of Sharjah and their fundamental impact in continuing the growth and movement in this sector and the increase in demand for all real estate transactions, supported by the abundance of major development projects that are being launched periodically, in addition to the decision to allow expatriates and Gulf nationals to own property in the emirate.
According to the half-yearly report issued by the Sharjah Real Estate Registration Department, various regions of the emirate recorded 5,426 real estate sales transactions, covering 55.1 million square feet and involving 192 areas of the emirate.
Sharjah city accounted for the largest number of sales - 4,932 transactions - taking place in 109 areas. Muwailih Commercial Area recorded the highest number of sales transactions and trading value in the emirate. Residential properties and lands topped these sales transactions.
According to the classification of properties traded in sales transactions, residential lands topped the list with a total of 1,994 properties, followed by residential apartments - 1,454 apartments. This is followed by residential built-in lands - 788 properties.
The report showed that the main branch of Sharjah Real Estate Registration Department accounted for 96.5% of the total trading value, while the remaining branches accounted for 3.5% during the first half of 2024.
The first half of this year recorded 7 new real estate projects in the Emirate of Sharjah, which includes residential complexes and residential and commercial towers with a total area of 16.2 million square meters. These include two projects licensed for sale under the ownership system for expatriates and Gulf nationals, namely: Anantara Sharjah Residences project in Al Raffa area, and Faradis Tower project in Al Mamzar area.
According to the report issued by the Real Estate Registration Department, the number of nationalities who have invested in the emirate reached 106 nationalities from around the world during the first half of 2024.
The investment by UAE citizens in 17,390 properties, amounted to AED 8.8 billion, while the investment by GCC citizens amounted to AED 1.1 billion in 620 properties. Arab citizens invested AED 3.5 billion, in 3,021 properties whereas the investment by citizens of other countries amounted to AED 4.8 billion, in 2,893 properties.
The top 6 nationalities investing in the emirate in terms of the number of properties are the UAE citizens with 17,390 properties, Indian citizens with 1,138 properties, Syrians with 785 properties, Iraqis with 491 properties, Egyptians with 411 properties, and Jordanians with 394 properties.
The Emirate of Sharjah has established its global reputation as an attractive investment destination due to its strategic advantages, its integrated world-class infrastructure and economic opportunities. This is reflected in the positive market sentiment, the strong demand and supply factor and the increase in trade activity in the real estate market, offering incentives for more investments and deals.
The increase in trade is also an indicator of the economic growth of the Emirate of Sharjah and an indicator of the condition of the real estate market and the economy in general.
The property market in the emirate is considered a balanced one thanks to the confidence of investors and the presence of excellent opportunities as well as the legislative framework supporting the real estate sector.
The Real Estate Registration Department and the authorities in the Emirate continue their efforts to provide an integrated system of services to support and regulate the real estate market sector.
For an optimal experience, please
