Staff Report,
Dubai, UAE
Sharjah’s real estate market experienced a substantial drop in transaction volume by 20.5 percent from January 2024, standing at Dh3.1 billion in February. As per Sharjah Real Estate Registration Department’s latest Real Estate Transactions and Mortgages Movement report, 4,458 real estate transactions were carried out across various regions last month.
Sharjah’s megaprojects are attracting a wide number of local, Arab, and international funds and investments, resulting in high returns for investors.
Sales transactions reached 1,048, representing 23.5 percent of the total 4,458 transactions. Mortgage transactions were 355, valued at Dh581.4 million, representing 8 percent of the total. The remaining 3,055 transactions represented 68.5 percent of the total.
The sales transactions took place in 101 areas spanning 8.7 million square feet across various regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. As for the type of traded real estate, 413 lands and 328 units in towers were traded alongside 307 built-in land transactions.
Muwailih Commercial continued to lead the list of areas with the highest number of sales transactions in Sharjah, recording 213 transactions. Rawdat Al-Qart recorded 138 while Al-Mazairah and Al Khan recorded 77 transactions each.
In terms of trading volume, Muwailih Commercial also topped the list, with a trading volume of Dh382 million, followed by Um Fanain with Dh109.5 million, Al-Khan with Dh84.2 million, and Al-Sajaa Industrial with Dh83.3 million.
In the Central Region, the transactions were mostly concentrated in Al-Madina Al-Qasimia with 8 transactions, while the area with the highest trading volume was Blida with Dh13.4 million.
In Khor Fakkan, Al-Bardi 4 recorded 11 transactions with the highest trading volume of Dh6.9 million.
In Kalba, Sur Kalba Commercial carried out 4 transactions, while Al-Saaf 7 recorded the highest trading volume of Dh1.5 million.
Ends
Also read: Sharjah real estate transactions jump 95% to Dh3.9 bn in January ‘24
