Sharjah 24: His Excellency Abdulaziz Ahmed Al Shamsi, Director General of Sharjah Real Estate Registration Department, announced that the volume of real estate transactions has increased by 47% during the first nine months of 2024, compared to the same period last year. The value of these transactions reached AED 28 billion, with a total number of 69,078 transactions, increasing by 16.5% compared to the same period last year.
His Excellency Abdulaziz Ahmed Al Shamsi, Director General of Sharjah Real Estate Registration Department, revealed that the volume of real estate transactions has increased by 47% during the first nine months of 2024, compared to the same period last year. The value of these transactions reached AED 28 billion, with a total number of 69,078 transactions, increasing by 16.5% compared to the same period last year.
Speaking exclusively to “Sharjah 24,” Al Shamsi explained that the reasons for the growth and prosperity are the support of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, in addition to the increasing population growth and the interest of foreign investors in investing in the Emirate of Sharjah, which was reflected in the positive results being achieved in addition to the development of the infrastructure and legislation that stimulate investment and rental returns.
Al Shamsi pointed out that Sharjah real estate continues to appeal to investors from different nationalities, attracting 114 nationalities during the same period. The investment of UAE citizens amounted to AED 13.7 billion, with 22,908 properties, while the investment of non-Emirati GCC citizens amounted to AED 1.7 billion, with 1,166 properties. With regards to the investment of other Arab citizens, it amounted to AED 5.1 billion, with 4,651 properties, while the investment of citizens of other countries amounted to AED 7.5 billion, with 4,587 properties.
These transactions varied in 220 areas in the Emirate and covered an area of 88 million square feet. The most important areas in which the transactions took place were Muwailih Commercial, Rawdat Al Qart area, Tilal and Al Khan area.
Al Shamsi concluded by mentioning the many developments and procedures that support the development of the real estate sector in Sharjah and enhance its results, indicating that the continuous increase in real estate transactions reflects investors’ confidence in the real estate market and investors’ determination to own and invest at the right time and in an attractive environment.
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