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Sharjah records Dh14.7b worth of real estate transactions in first half of 2019
Sharjah, the third largest of the seven emirates that make up the United Arab Emirates (UAE), recorded real estate transactions worth Dh14.7 billion in the first half of 2019, according to the latest report released by the Sharjah Real Estate Registration Directorate (SRERD).
Abdul Aziz Ahmad Al Shamsi, Director-General of the Sharjah Real Estate Registration Directorate, said the emirate recorded 27,588 total transactions during the first six months of the year.
“Most of the real estate dealings recorded in the Emirate of Sharjah over first six months of the year were in May with dealings worth over Dh6 billion,” Al Shamsi said.
Up to 1,893 sales transactions and 1,588 initial sale contracts transactions were recorded in the first six months of the year, according to the first half 2019 report on transactions in the emirate.
Residential properties ranked top in terms of sales transactions, constituting 69.7 per cent of the total transactions recorded, the SRERD data showed.
Commercial properties were next, at 17.8 per cent, while industrial properties accounted for 10 per cent of sales transactions and agricultural properties garnered 2.5 per cent.
While investors from 37 nationalities worldwide invested in the real estate sector of the emirate of Sharjah in the first six months of 2019, GCC nationals’ real estate investments exceeded Dh11.8 billion.