Staff Report
Dubai, UAE
The Sharjah Real Estate Registration Department has revealed that the cash trading volume in the Central and Eastern regions of the emirate reached Dh1.3 billion during the first nine months of 2024, exhibiting a growth rate of 57.6% from last year. A total of 22,059 real estate transactions covering 37 million square feet were recorded during this period.
Omar Al-Mansouri, Director of Branches Department at the Sharjah Real Estate Registration Department, said, “The real estate sector in the “Central and Eastern” regions achieved new record levels, thanks to the Sharjah Government’s continued care in the development of the infrastructure and legislation, and providing all forms of support to investors, which has contributed significantly to strengthening the real estate sector in all cities and regions of the emirate.”
Al-Mansouri further added, “There has been a launch of many real estate and tourism projects in these two regions, such as road projects, hotels and resorts, in addition to the advanced infrastructure, which made these areas the point of attraction for investors from inside and outside the country, and led to a clear growth in the real estate market. We, at the Real Estate Registration Department, are working to implement standards and laws that enhance economic growth and support the prosperity of the real estate sector.”
He stated that the transactions volume in the four branches constituted 4.7 percent of the total trading volume in the emirate. The cash trading volume in the Central region amounted to Dh810.3 million, representing 2.9 percent of the total trading volume of the branches. Khorfakkan generated Dh262.4 million, representing 0.9 percent. Kalba and Dibba Al-Hisn recorded Dh234.6 million and Dh15.5 million, respectively.
The number of sales transactions in the Central region reached 577 worth Dh464.9 million across 41 different areas. Al-Qasimia accounted for the largest part of them, with 346 transactions, representing 60 percent of the total sales transactions. Al-Maashi recorded 24 transactions, and Maghsa Industrial saw 23 transactions in the first nine months of 2024.
In addition, the number of transactions in Khorfakkan reached 194 across 23 areas, reaching a value of Dh114.6 million. Hay Al-Harai Industrial area recorded 37 transactions, representing 19.1 percent of the total sales transactions in the city, followed by Hay Hayawa 4 with 25 and Hay Al-Bardi 4 with 24 transactions.
In Kalba, the number of transactions reached 118 in 33 areas, valued at Dh78.9 million. Al Tarif 5 recorded 25 transactions, followed by Sur Kalba commercial area with 15 transactions and Kalba industrial areas with 13 transactions.
Dibba Al-Hisn recorded 16 transactions worth Dh12.3 million, out of which 11 took place in Hay Al-Shamali.
Ends
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