The real estate market in Sharjah continued its upward growth, achieving a cash trading volume of AED 3.9 billion in various regions and cities of the emirate during the month of July, while the total number of transactions reached 4,146, while the total area traded in sales transactions reached 13.8 million square feet during the same period, according to the “Real Estate Trading Movement Report” issued by the Real Estate Registration Department.
These results confirm the attractiveness of the real estate sector in Sharjah, and its growing ability to attract local, Arab and foreign investors alike, due to the multiple investment options in the real estate products offered, the strength of the infrastructure and the regulatory legislation that together provide strong opportunities for investors and those aspiring to invest in the emirate. All of this is accompanied by the public and private sectors launching many new real estate projects in many areas due to the increase in population and expatriates coming from abroad for the purpose of investing or working in the smiling emirate.
The report’s statistics showed that the total number of transactions executed during July reached 4,146 transactions, with the number of sales transactions reaching 1,460 transactions, representing 35.2% of the total number of transactions, while the number of mortgage transactions reached 385 transactions, representing 9.3% of the total transactions, with a total value of 1.4 billion dirhams, while the remaining other disposal transactions reached 2,301 transactions, representing 55.5% of the total number of transactions.
Sales transactions took place in 119 areas distributed across the 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, 568 vacant lands were traded, while the number of transactions for built lands reached 544 transactions, while transactions for separate towers reached 348 transactions.
The total sales transactions in the city of Sharjah amounted to 1,304 transactions, while the Muwailih Commercial Area continued to top the list of areas with the highest number of sales transactions with 352 transactions, followed by the Tilal area with 145 transactions, then the Rawdat Al Qurt area with 127 transactions, and Al Khan with 89 transactions.
As for the areas with the highest trading volume in terms of cash trading volume, the Muwailih Commercial Area topped the list with a trading value of AED 251 million, followed by Tilal with AED 232.9 million, then the Sajaa Industrial Area with AED 139.4 million, and the Hoshi area with AED 88.6 million.