Staff Report
Dubai, UAE
The Central and Eastern regions of Sharjah recorded Dh646 million worth of transactions in the first half of 2024, a 17.7 percent rise from the same period last year. In its semi-annual report, the Sharjah Real Estate Registration Department revealed that 14,395 transactions were carried out in the four branches of the emirate and the total area traded in sales transactions reached 21.7 million square feet during the same period. As many as 246 mortgage transactions were recorded, amounting to Dh279.7 million. The regions, Central, Khor Fakkan, Kalba, and Dibba Al-Hisn, constituted 3.5 percent of the total trading value of Sharjah’s real estate market.
Omar Al Mansouri, Director of the Branches Department at Sharjah Real Estate Registration Department, said, “The real estate in the Central and Eastern regions achieved new record levels during the first half of this year. The interest and support presented by the Sharjah Government for the continuous development of infrastructure and legislation has a positive impact in supporting and developing the real estate in the emirate in all its cities.”
He further pointed out that many real estate and development projects in these two regions, especially in tourism, resulted in attracting investors from inside and outside the UAE, driving growth and prosperity of the sector during the past period.
The trading value in the Central region amounted to Dh284.2 million, representing 1.7 percent of Sharjah’s total trading value. In Khor Fakkan the trading value amounted to Dh179.6 million, representing 0.9 percent, while in Kalba, it amounted to Dh170.7 million, representing 0.8 percent. In Dibba Al-Hisn, it amounted to Dh11.5 million, representing 0.1 percent of the total trading value of the branches.
Across 36 different areas in the Central region, sales transactions reached 281 transactions valued at Dh 232.7 million. Al Qasimia ranked the highest with 142 transactions, representing 50.5 percent of the total sales transactions. Khor Fakkan recorded 137 transactions in 22 areas, with a value of Dh83.2 million. Al Bardi 4 topped the list with 23 transactions, constituting 16.8 percent of the total sales transactions in the region. The number of transactions reached 63 in 22 areas of Kalba, amounting to Dh42.7 million. As many as 12 transactions were recorded in Al Taraif, representing 19 percent of the total sales transactions. Finally, sales transactions in Dibba Al-Hisn were distributed across 3 areas with 13 transactions worth Dh9.5 million. Al Shamali constituted 69.2 percent of the total with 9 transactions.
Ends
Also read: Sharjah’s real estate records Dh4 billion in May 2024
