Staff Report
Dubai, UAE
Sharjah real estate has reported an increase of 22 percent in investment by foreign nationalities during the first half of 2024, compared to the same period in 2023. As many as 5,422 investors from 100 different nationalities invested in this period, taking the cash trading volume to Dh8.3 billion, a staggering 115 percent growth from the H1 2023.
The figures were revealed by Abdulaziz Ahmed Al-Shamsi, Director General of Sharjah Real Estate Registration Department. He attributed the growth to the tech-driven approach to enhance the industry.
Abdulaziz Ahmed Al-Shamsi, Director General of Sharjah Real Estate Registration Department, said, “The department has succeeded in using the data of the new revolution by providing smart solutions to the investors’ challenges, focusing on electronic transformation and automation of the work system with the aim of providing modern and creative services that facilitate the work of investors.”
He further added that the number of traded properties in the emirate during the first half of this year by foreigners has reached 5,914, exhibiting a growth rate of 84.6 percent. With more than 20 real estate projects open to foreign ownership in Sharjah, the number of expat investors is only predicted to grow.
The ongoing Sharjah Investment Forum will highlight the smart initiatives implemented in the UAE to fuel investment in diverse projects that will drive economic growth.
Al Shamsi said, “The Fourth Industrial Revolution imposes major challenges on various economic sectors in the world, including real estates. It also opens up broad horizons and many opportunities for investors and entrepreneurs. Hence, the importance of “Sharjah Investment Forum”, which is being held this year under the theme ‘A Futuristic Vision for Smart Economies’, to highlight the smart investment environment provided by the
UAE in general, and Sharjah in particular.”
He also added, “The department is participating in the forum with its own platform, through which it presents to investors and entrepreneurs all its services, including its smart solutions which contribute to saving time and effort for investors, based on the department’s belief that investing in facilitating services for its customers is the most successful to serve the business community.”
Ends
Also read: Sharjah records 3,055 transactions worth Dh2.8 bn in August
