Construction Week


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.

 ?? ?? The Sharjah real estate market is experienci­ng a period of growth and expansion.
The Sharjah real estate market is experienci­ng a period of growth and expansion.

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