Staff Report
Dubai, UAE
The Sharjah Real Estate Registration Department (SRERD) has announced that the emirate recorded 4,883 real estate transactions worth Dh4.4 billion in October, the highest monthly transaction volume of 2024 so far, covering a total area of 14 million square feet.
In its report, the SRERD revealed that out of the total transactions, sales transactions accounted for 1,415, representing 29 percent. As for mortgage transactions, they reached 443 valued at Dh1.3 billion, representing 9.1 percent of the total. The remaining transactions reached 3,025, representing 61.9 percent of the total number of transactions.
The sales transactions occurred in 126 areas distributed across various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. In terms of the type of traded property, there were 693 transactions for lands, 450 for units sold in towers, and 272 for the built-in lands’ transactions.
Al-Mamzar recorded the highest real estate deal on a land valued at Dh62 million. The area also recorded the highest mortgage transaction during the same month on a vacant land valued at Dh386 million.
The total number of sales transactions reached 1,145. Muwailih Commercial continued to lead the list of areas with the highest number of sales transactions, recording 257 transactions, followed by Al-Khan with 106, Muzeirah with 92, and Tilal with 81 transactions.
As for the areas with the highest trading volume, Muwailih Commercial also topped the list with a trading volume of Dh258.6 million, followed by Tilal with Dh161.6 million, Al-Sajaa Industrial with Dh130.5 million, and Al-Khan with Dh83.2 million.
In the Central Region, the total sales transactions reached 226. Al-Qasimia City led in terms of transactions and trading volume with 193 transactions amounting to Dh133.6 million.
Khorfakkan recorded 23 sales transactions with Al-Harai Industrial District and Al-Harai Commercial District leading the list with 5 transactions each. The highest area in terms of trading volume was Hay Al-Zubara area which recorded Dh2 million.
As many as 19 transactions took place in Kalba. Sur Kalba Commercial and Al-Tarif 5 led the list with 3 transactions each, while Al-Tarif 1 area was the highest area in terms of trading volume, reaching Dh4.1 million.
Ends
Also read: Sharjah’s Central and Eastern regions record 22,000 real estate transactions in 9 months
