The real estate sector in the Emirate of Sharjah maintained its momentum during last August, recording real estate transactions worth AED 2.8 billion, while the total number of transactions reached 3055 transactions, while the total area traded in sales transactions reached 7 million square feet, during the same period, according to what was revealed by the “Real Estate Trading Movement Report” issued by the Real Estate Registration Department in the emirate.
The report’s statistics showed that the total transactions executed during August reached 3055 transactions, where the number of sales transactions reached 1054 transactions, representing 34.5% of the total number of transactions, while the number of mortgage transactions reached 342 transactions, representing 11.2% of the total transactions, with a total value of AED 677 million, while the number of other disposal transactions reached 1659 transactions, representing 54.3% of the total number of transactions.
The sales transactions took place in 105 areas distributed across the various cities and regions of the Emirate of Sharjah, and these properties included residential, commercial, industrial and agricultural lands. In terms of the type of property traded, 403 vacant lands were traded, while the number of transactions for built lands reached 242 transactions, while transactions for separate towers reached 409 transactions.
The total sales transactions in Sharjah City amounted to 948 transactions, while the Muwailih Commercial Area continued to top the list of areas with the highest number of sales transactions with 271 transactions, followed by the Tilal area with 86 transactions, then the Al Khan area with 83 transactions, and Rawdat Al Qurt with 77 transactions.
As for the areas with the highest trading volume in cash trading, the Muwailih Commercial Area topped the list with a trading value of AED 238.5 million, followed by the Tilal area with AED 136.7 million, then the Mamzar area with AED 89.9 million, and the Sajaa Industrial Area with AED 89.3 million.
In the central region, the total sales transactions reached 78 transactions, most of which were concentrated in Al Qasimia City with 52 transactions, which was also the highest area in terms of cash trading volume, amounting to AED 30 million.
While 12 sales transactions took place in Khorfakkan City, where the Al Harai Industrial District and Al Harai Commercial District topped the list with 3 transactions each, while the “Al Gharb” District came in as the highest area in terms of cash trading volume with AED 1.6 million.
In Kalba City, 16 sales transactions took place, led by the “Kalba Commercial” and “Al Sur 4” areas with 3 transactions each, while the “Al Sur 1” area was the highest area in terms of cash trading volume with AED 4.1 million.