Staff Report
Dubai, UAE
Sharjah real estate achieved a record-breaking transaction volume of Dh40 billion in 2024, exhibiting 48 percent growth from 2023, Abdulaziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department, announced. This is the highest trading volume since 2008. The transaction growth was buoyed by investments from 120 nationalities
Al-Shamsi said, “This is the highest trading volume achieved by Sharjah’s real estate since 2008, and this significant growth reflects the increasing number of investors of various nationalities and their demand to purchase different types of real estate, benefiting from the emirate’s attractive investment environment and stable economic climate. The sector has also succeeded in attracting investors from 120 nationalities from different parts of the world.”
Multiple developments and procedures are implemented to support the growth of Sharjah’s real estate and enhance its results, indicating that the transactions’ continuous increase reflects investors’ confidence in Sharjah’s real estate market and their determination to own and invest in the emirate. Additionally, there is an increase in the demand for all transactions, including title deeds transactions, sales transactions, and sorting real estate project units’ transactions. The initial contract transactions also increased due to the public’s interest in development project units, which indicates further growth in Sharjah real estate transactions in the future.
Al-Shamsi further commented on the role of population growth, saying, “Sharjah has witnessed an increase in demand for real estate as a result of population growth and urban expansion. This demand coincided with large investments in infrastructure projects, such as the development of roads and public facilities, which made Sharjah’s real estate more attractive for housing and investment.”
Sharjah witnessed a significant increase in the number of investing nationalities, reflecting the growing demand for investment and ownership in the emirate. The number of these nationalities increased to 120 during 2024, compared to 103 nationalities in 2023. Moreover, the number of properties traded by investors of various nationalities also increased last year to reach 45,676 properties, compared to 31,229 in 2023. This increase is due to several factors, most notably the strength of the infrastructure, the diversity and availability of real estate products, and the decision to allow non-citizens and Gulf nationals to own real estate in Sharjah.
In terms of trading volume by nationality, investments by Emirati citizens amounted to about Dh19.2 billion, which represented 48 percent of the total. The investments by the rest of the Gulf citizens amounted to Dh2.3 billion and represented 5.7 percent, while investments by Arab citizens rose to Dh billion, constituting 17.5 percent of the total. Similarly, investments by citizens of other countries achieved a record increase, which reached about Dh11.5 billion, and represented 28.8 percent of the total value of investments.
As for the number of properties traded by nationality, Emirati investors traded 30,638 properties, followed by investors from India with 2,698 properties, Syrian investors with 1,761, Iraqi investors with 1,012, Egyptian investors with 957, and Pakistani investors with 865 properties.
The value of mortgages amounted to Dh10 billion through 2,558 transactions done by 32 financing entities. As for the areas with the highest number of mortgage transactions, Muwailih Commercial came first with 457 transactions worth Dh2.1 billion. Umm Fanain followed with 352 transactions amounting to Dh657 million. Tilal recorded 247 transactions worth Dh611 million, and Al-Khan achieved 155 transactions worth Dh1.4 billion.
As for usufruct sales, they reached 652 transactions worth Dh1 billion distributed across 11 regions. Muwailih Commercial also topped the list with 178 transactions worth Dh166 million, followed by Umm Fanain area with 104 transactions worth Dh186 million and Al-Khan with 93 transactions amounting to Dh82.5 million.
The initial sales contracts reached 10,084 with a value of Dh12 billion. With regards to the areas with the highest number of transactions, Muwailih Commercial also took the lead with 3,328 transactions, and a trading value of Dh3.5 billion, followed by Al-Qasimia City with 1,168 transactions amounting to Dh825 million. Tilal recorded 861 transactions worth Dh2.9 billion.
Reviewing the statistics of real estate projects, 14 new projects were registered in Sharjah last year for residential, commercial and industrial uses, including 9 complexes and 5 towers. Additionally, 20,197 properties were traded in real estate development projects in the emirate during 2024.
In order to meet the increasing demand for real estate units in the emirate, the number of projects licensed by Sharjah’s Real Estate Development Projects Approval Committee for ownership by all nationalities had increased to 25 real estate projects since the issuance of the decision, including 8 projects that obtained approval during 2024. These projects varied between complexes and towers with residential, commercial and industrial uses, and their licensing came with reference to the Executive Council Resolution No. (30) of 2022 regarding the ownership of real estate by non-citizens and Gulf nationals in Sharjah, which played an important role in supporting the real estate throughout the past 12 months, and sustaining its continued increasing activity during 2025.
Ends
Also read: Sharjah real estate transactions reach Dh4 billion in November
