SHARJAH RECORDS $544.9MN WORTH OF REAL ESTATE TRANSACTIONS
According to a report by SRERD, Muwailah Commercial topped the list with the highest number of real estate deals with 213 transactions
The emirate of Sharjah completed real estate transactions totalling $544.9mn during August 2022, according to the monthly report published by Sharjah Real Estate Registration Department (SRERD).
The total number of transactions executed by the SRERD during the past month amounted to 2,409, with 747 sales transactions representing 31% of total transactions. Mortgage transactions amounted to 303, which is 12.6% of the total transactions, with a value exceeding $193.4mn. In addition, 1,359 other transactions represented 56.4% of the total.
Sales transactions took place in 98 areas across the various cities of the emirate of Sharjah, and the total area of traded real estate reached 585,289m2 and included residential, commercial, industrial, and agricultural lands.
Types of real estate included 160 lands, amounting to 21.4% of the total, while built lands amounted to 254 (34%), and 333 transactions of subdivided towers accounted for 44.6%.
The report’s data showed that Muwaileh Commercial topped the list of areas with the highest number of real estate sales deals with 213 transactions, followed by Al Khan area with 104, Al Rigaibah with 39, and Mazairah with 36 transactions.
The commercial areas Al Harrai, Al Bardi 1, Al Harrai Industrial area, and Al Lulayyah were the top four areas in terms of the number of transactions in the city of Khorfakkan, totalling 10 transactions.
Al Lulayyah recorded the highest trading volume with a value of $653,900, followed by the Al Qadisiyah area with a trading value of $545,000. Al Yarmouk traded with $299,800, while Al Harrai Commercial recorded transactions worth $259,000.