The real estate sector performance report in the regions and cities of the Emirate of Sharjah, which was issued by the Real Estate Registration Department in the emirate, revealed that the volume of cash transactions in the central and eastern regions reached 332.4 Million Dirhams, and were carried out through the department’s four branches in the cities of Al Dhaid, Khor Fakkan, Dibba Al Hisn and Kalba. While the total number of real estate transactions in the department’s branches reached 6,732 transactions. The total area traded in sales transactions reached 10.1 million square feet during the same period.
Omar Al Mansouri, Director of Branches Department at the department, said: “The real estate sector in the central and eastern regions has witnessed, over the past years, a continuous, non-stop development movement that has pushed the economy in the two regions towards economic horizons full of promising opportunities. The two regions witnessed special care from our wise government, through the launch of many real estate and development projects, especially tourism projects in the two regions, which constituted a point of attraction and attraction for investors from inside and outside the country, and were reflected in the growth and prosperity of the sector, which we see clearly during the results of the report of the past three months from this year.”
Al Mansouri added, “The interest of the Sharjah government in the continuous development of infrastructure and legislation has had a positive impact in supporting and developing the real estate sector in the emirate in all its cities.”
Al Mansouri reported that the trading volume in the four branches represented 3.3% of the total trading volume in the real estate sector in the emirate, during the first quarter, as the total cash trading volume in Al Dhaid reached 146.2 Million Dirhams, representing 1.5% of the total trading volume, while it reached 114.8 Million Dirhams in The city of Khor Fakkan, at a rate of 1.1%, 62 Million Dirhams in the city of Kalba, at a rate of 0.6%, and 9.3 Million Dirhams in the city of Dibba Al-Hisn, at a rate of 0.1% of the total turnover of the branches. Al Mansouri also explained that the department’s branches carried out 143 mortgage transactions, with a total value of 130.3 Million Dirhams.
Al Mansouri said that the number of sales transactions in Al Dhaid reached 126 transactions, which took place in 27 different regions with a total value of 120.1 Million Dirhams, and Al Qasimia City accounted for the largest part of them, with 70 transactions, at a rate of 55.5% of the total sales transactions, and the rest of the transactions were distributed. There are 56 transactions in 26 regions.
Al Mansouri added that the number of sales transactions in the city of Khor Fakkan reached 87 transactions, which took place in 20 areas with a total value of 51.3 Million Dirhams, while the areas (Al Bardi District 4) and (Al Harai Industrial District) recorded 27.6% of the total sales transactions.
Al Mansouri pointed out that the number of transactions in the city of Kalba reached 34 transactions, which took place in 14 areas of the city, with a value of 23.4 Million Dirhams. Sales transactions in Kalba were concentrated in the (Sur Kalba Commercial) and (Al-Turaif 5) areas, which constituted 35.3% of the total sales transactions in the city.
The Director of the Department’s Branches Department revealed that sales transactions in the city of Dibba Al-Hisn were distributed among 3 regions, and were completed through 10 transactions worth 7.7 Million Dirhams, 80% of which took place in the Al-Shamali neighborhood.