Staff Report,
Dubai, UAE
Sharjah real estate recorded transactions worth Dh3.9 billion in January 2024, appreciating 95 percent from Dh2 billion in January 2023. Sharjah Real Estate Registration Department (SRERD) revealed that the number of transactions steeped to 5,412 last month compared to 2,999 in January 2023.
Sales transactions reached 879, representing 16.3 percent of the total number of transactions. As for the number of mortgage transactions, it reached 288, which represented 5.3 percent of the total number of transactions, and a total value of Dh548.1 million. The other remaining transactions amounted to 4,245 and represented 78.4 percent of the total number of transactions.
Sales transactions took place in 106 areas distributed across various cities and regions of the emirate, and they included residential, commercial, industrial, and agricultural lands. As for the type of traded real estate, 358 lands were traded, built-in land transactions amounted to 282, and the number of units sold in tower transactions reached 239 out of the total number of transactions.
Muwailih Commercial topped the list of the highest areas in the number of sales transactions in Sharjah, recording 122 transactions. Al Mazairah came second with 114 transactions, followed by Al Khan with 61 transactions.
In terms of trading volume, Muwailih Commercial came first, with a trading volume of Dh164.1 million, followed by Al-Sajaa industrial with Dh152.5 million, and Al-Khan with Dh79.2 million.
In the central region, the transactions were concentrated in Al-Madina Al-Qasimia, with 46 transactions, which also recorded the highest numbers in terms of trading volume, reaching Dh32 million.
Sharjah’s real estate witnessed a record-breaking transaction volume of Dh27.1 billion in 2023 since 2017. The growth, complemented by megaprojects under construction, cements Sharjah’s position as a regional destination for investment in real estate.
Ends
Also read: Sharjah real estate secures record-breaking Dh27.1 billion in 2023
