The real estate sector in Sharjah continues to grow month after month, as the volume of real estate transactions in the emirate rose to 4 billion dirhams during the month of May, a noticeable increase compared to the month of April 2024, which recorded a trading volume of 1.7 billion dirhams, according to what was reported by « Real Estate Transactions Report” issued by the Real Estate Registration Department in the Emirate of Sharjah.
The report indicated that the total real estate transactions carried out by the department during the month of May amounted to 9,454 transactions distributed among a group of different real estate transactions, while the total volume of the area traded in sales transactions reached 13.3 million square feet during the same period.
Over the past years, the real estate market in Sharjah has witnessed remarkable development and continuous prosperity, placing itself at the heart of the real estate map in the region and the world. The emirate confirms its leadership and ability to provide an ideal real estate environment that incubates real estate investment, contributing to attracting more local, Arab and foreign investors, due to the sector’s readiness, sustainability and ability to compete, which has led to the entry of many new capitals into the Sharjah real estate market, which plays a pivotal role in achieving economic diversification in the emirate, and consolidating its position among the best economic regions in the world.
The report’s statistics showed that the total number of transactions executed during the month of May 2024 reached 9,454 transactions, with the number of sales transactions reaching 1,250 transactions, representing 13.2% of the total number of transactions, while the number of mortgage transactions reached 576 transactions, representing 6.1% of the total transactions, with a value of 1.4 billion dirhams, while the rest of the other transactions amounted to 7,628 transactions, representing 80.7% of the total number of transactions.
Sales transactions took place in 111 areas distributed across various cities and regions of the Emirate of Sharjah. These properties included residential, commercial, industrial and agricultural lands. Regarding the type of real estate traded, 446 vacant lands were traded, while the number of transactions for detached towers reached 432 out of the total transactions, while transactions for built lands reached 372 transactions.
The total number of sales transactions in the city of Sharjah reached 1,122 transactions, while the Muwailih commercial area continued to lead the list of areas with the highest number of sales transactions with 280 transactions, followed by the Rawdat Al Qart area with 135 transactions, then the Tilal area with 127 transactions, and the Al Khan area with 75 transactions.
As for the areas with the highest cash trading volume, the Muwailih commercial area topped with a trading value of 399.7 million dirhams, followed by the “Tilal” area with 196.3 million dirhams, then the “Umm Fannin” area with 94.6 million dirhams, and the Khalidiya area with 84.5 million dirhams.
In the central region, the total sales transactions reached 88 transactions, most of which were concentrated in Al Qasimia City with 39 transactions, which was also the highest region with a cash trading volume of 22.8 million dirhams.
While 28 sales transactions took place in the city of Khor Fakkan, where the “Al Bardi District 4” area topped the list with 10 transactions, and it was also the highest area with the volume of cash trading, which amounted to 8 million dirhams.
In the city of Kalba, 12 sales transactions took place, topped by the “Sur Kalba Commercial” area with 4 transactions, while the “Al-Turaif 5” area came as the highest area with a cash turnover of 1.5 million dirhams.