Staff Report
Dubai, UAE
Sharjah’s real estate trading volume soared to Dh4 billion in May 2024, a staggering 135 percent rise from Dh1.7 billion in April, according to the Real Estate Transactions Movement report issued by Sharjah Real Estate Registration Department. The tremendous jump signifies the lucrative investment opportunities in Sharjah’s real estate industry, attracting more local, Arab, and foreign investors, bringing new capital for the market, and strengthening the economy in the emirate.
As per the report, total real estate transactions stood at 9,454, with sales transactions reaching 1,250, which represented 13.2 percent of the total. The same covered 13.3 million square feet during this period. In addition, the number of mortgage transactions reached 576, representing 6.1 percent of the total transactions, and with a total value of Dh1.4 billion, while the other transactions amounted to 7,628, which represented 80.7 percent of the total number of transactions.
The sales transactions took place in 111 areas in various regions of Sharjah. These properties included residential, commercial, industrial, and agricultural. As for the type of traded real estate, there were 446 lands, 432 of units in towers, and 372 transactions for built-in lands.
The total sales transactions in the city of Sharjah have reached 1,122. Muwailih Commercial continued to hold its position as the leading area with the highest number of sales transactions in the city, with 280 transactions. It was followed by Rawdat Al-Qart with 135, Tilal with 127, and Al Khan with 75 transactions.
As for the highest areas in terms of trading volume, Muwailih Commercial also came first, with a trading value amounting to Dh399.7 million, followed by Tilal area with Dh196.3 million, Um Fanain with Dh94.6 million, and Al-Khalidiya with Dh84.5 million.
In the central region, the total sales transactions amounted to 88, most of which were concentrated in Al-Madina Al-Qasimia, with 39 transactions, which also recorded the highest area in terms of trading volume in the city, reaching Dh22.8 million.
As for Khorfakkan, the sales transactions reached 28. Al-Bardi 4 topped with 10 transactions and it was also the highest area in trading volume, which amounted to Dh8 million.
Kalba recorded 12 sales transactions. Sur Kalba commercial area recorded 4 transactions, while Al-Tarif 5 was the highest in terms of trading volume with Dh1.5 million.
Ends
Also read: Sharjah records real estate transactions worth Dh1.7 bn in April ‘24
