Staff Report,
Dubai, UAE
The real estate transaction volume in Sharjah reached a count of 2,606 in March 2024, amounting to Dh3.1 billion across 8.1 million square feet, demonstrating the emirate’s growth in this sector as it continues to attract local and foreign investment with its megaprojects.
Sales transactions made up 32.1 percent of the total number of transactions, standing at 837. Mortgage transactions reached 333, representing 12.8 percent of the total transactions, and with a total value of Dh1.1 million, while the rest of the other transactions amounted to 1,436, representing 55.1 percent of the total number of transactions.
Sales transactions took place in 97 areas distributed across various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. The type of traded real estate included 350 vacant lands and 247 of built-in land.
Muwailih Commercial topped the list as the region with the highest number of sales transactions in Sharjah. It recorded 156 transactions. It was followed by Rawdat Al-Qart with 119 transactions, Al Khan with 62, and Tilal with 49 transactions.
Muwailih Commercial was also recorded as the most active area in terms of cash trading volume with a value of Dh183.2 million, followed by Al Khan with Dh129.7 million, Al Saja’a Industrial with Dh99.7 million, and Tilal with Dh88.9 million.
In the Central Region, the total number of sales transactions reached 34 and areas in the Eastern region recorded 29 sales transactions.
Ends
Also read: Real estate transactions in Sharjah steep 67.1% to Dh10 bn in Q1 2024
