Staff Report
Dubai, UAE
The real estate market in Sharjah saw 4,146 transactions worth Dh3.9 billion taking place in July 2024. Based on the “Real Estate Market Performance Report” issued by Sharjah Real Estate Registration Department, the transactions were carried out in various areas of the emirate during the month.
Out of the total, 1,460 were sales transactions which covered 13.8 million square feet in 119 areas. As for the type of traded property, they were 568 of lands, 544 of built-in lands, and 348 transactions for the units sold in towers. The number of mortgage transactions reached 385, representing 9.3 percent of the total transactions, and with a total value of Dh1.4 billion, while the remaining real estate transactions reached 2,301, representing 55.5 percent of the total.
These results confirm the attractiveness of the real estate market in Sharjah, and its growing ability to attract local, Arab, and foreign investors alike. It presents multiple investment options, strong infrastructure, and a fair regulatory legislation which all together provide strong opportunities for investors. All these distinguished features are accompanied by many new real estate projects launched by the public and private sectors in many areas, due to the increase in population and expatriates coming from abroad for the purpose of investing or working in the emirate.
The total sales transactions in the city of Sharjah amounted to 1,304. Muwaileh Commercial recorded the highest number of sales transactions with 352 transactions, followed by Tilal with 145 transactions, Rawdat Al-Qart with 127, and Al-Khan with 89 transactions.
As for the areas with the highest trading value, Muwaileh Commercial also came first, with a trading value of Dh251 million, followed by Tilal with Dh232.9 million, Al-Sajaa Industrial with Dh139.4 million, and Hoshi with Dh88.6 million.
In the Central Region, the sales transactions reached 110. The highest count was recorded in Al-Qasimia City with 77 transactions, which also recorded the highest trading value reaching Dh55.4 million.
As for KhorFakkan, it recorded 26 sales transactions. Hay Al-Harai Industrial ranked the highest in terms of sales transactions with 7 transactions, while Hayawa 4 was reported as the area with the highest trading value of Dh3 million.
Finally, 18 sales transactions took place in Kalba. Al-Tarif 5 area topped the list with 6 transactions and maximum trading value of Dh3.7 million.
Ends
Also read: Sharjah’s real estate records Dh4 billion in May 2024
