Sharjah real estate transactions hit Dhs3.1 billion in March 2024
SHARJAH: According to a report about the “Real Estate Transactions” issued by Sharjah Real Estate Registration Department, it was revealed that the volume of real estate trading in the various regions and cities of the emirate has reached Dhs3.1 billion during March 2024, with a total number of 2,606 transactions and across 8.1 million square feet.
According the results of this report, it obvious that Sharjah’s real estate market is full of many investment opportunities and options, and is characterized by transparency and flexibility, which has contributed to strengthening the emirate’s position as one of the most attractive global destinations for investment. In this context, by following a series of smart decisions from the wise government, and through its branches spread across various areas in the emirate, the department works to provide a sound environment which stimulates investment, as it employs its full capabilities in serving the real estate market, meeting investors’ needs, accelerating their transactions, and innovating the necessary solutions to overcome possible obstacles.
In details, the report indicated that the total number of transactions carried out by the department have reached 2,606, with the number of sales transactions reaching 837, which represented 32.1 per cent of the total number of transactions. In addition, the number of mortgage transactions reached 333, representing 12.8 per cent of the total transactions, and with a total value of Dhs1.1 million, while the rest of the other transactions amounted to 1,436, representing 55.1 per cent of the total number of transactions.
The sales transactions took place in 97 areas distributed across various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. As for the type of traded real estate, They were 350 vacant lands, 240 of sub-divided tower, and 247 of built-in land.
The “Muwailih Commercial” area continues to lead the list of areas with the highest number of sales transactions in the city of Sharjah, with 156 transactions, followed by “Rawdat Al-qart” area with 119 transactions, “Al-khan” with 62, and “Tilal” area with 49 transactions.
As for the most active areas in terms of cash trading volume, “Muwailih Commercial” area also came first, with a trading value that reached Dhs83.2 million, followed by “Al-khan” area with Dhs129.7 million, “Al-saja’a Industrial” area with Dhs99.7 million, and “Tilal” area with Dhs88.9 million.
In the Central Region, the total number of sales transactions reached 34, while most of them were concentrated in “Al-madina Al-qasimia” with 14 transactions, which also recorded the highest numbers in terms of cash trading volume in the city, reaching Dhs10.9 million.