Staff Report
Dubai, UAE
The real estate market of Sharjah recorded 3,055 transactions during August, amounting to Dh2.8 billion and spanning 7 million square feet of land. The figures were revealed in the “Real Estate Trading Movement” report by the Sharjah Real Estate Registration Department.
The number of sales transactions was 1,054, which represented 34.5 percent of the total number of transactions. The number of mortgage transactions reached 342 worth Dh677 million, representing 11.2 percent of the total transactions. The remaining 1,659 transactions represented 54.3 percent of the total number of transactions.
The sales transactions took place in 105 areas distributed across the various cities and regions in the emirate of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. As for the type of property traded, they were 403 vacant lands, 242 of built-in lands, and 409 transactions of sub-divided towers.
The total sales transactions in Sharjah city amounted to 948. Muwailih Commercial continued to lead the list of areas with the highest number of sales transactions, recording 271 transactions, followed by Tilal with 86, Al-Khan with 83, and Rawdat Al-Qart with 77 transactions.
As for the areas with the highest cash trading volume, Muwailih Commercial also topped the list, with a trading volume of Dh238.5 million, followed by Tilal with Dh136.7 million, Al-Mamzar with Dh89.9 million, and Al-Sajaa Industrial with Dh89.3 million.
In the central region, the total sales transactions amounted to 78, most of which were concentrated in Al-Qasimia with 52 transactions. The area also recorded the highest cash trading volume, with Dh30 million.
As for Khorfakkan, 12 sales transactions took place, with Al-Harai Industrial District and Al-Harai Commercial District topping the list with 3 transactions each. Al-Gharb District recorded the highest cash trading volume, with Dh1.6 million.
In Kalba there were 16 sales transactions, with 3 transactions each for Kalba Commercial and Al-Sur 4, while Al-Sur 1 recorded Dh4.1 million as the region’s highest cash trading volume.
Ends
Also read: Sharjah records 4,146 real estate transactions worth Dh3.9 bn in July 2024
