The real estate sector in the Emirate of Sharjah succeeded in achieving exceptional and unprecedented growth during 2024, with a trading volume of 40 billion dirhams, a growth rate of 48% compared to 2023. Abdulaziz Ahmed Al Shamsi, Director General of the Real Estate Registration Department, confirmed: “This is the highest trading volume achieved by the real estate sector in the emirate since 2008, and this significant growth reflects the increasing demand from investors of various nationalities to purchase real estate of various types, benefiting from the attractive investment environment and stable economic climate enjoyed by the emirate, as the real estate sector succeeded in attracting investors from 120 nationalities from different countries of the world.
Support from the Sharjah Government
Regarding the reasons for this exceptional growth, the Director General of the Real Estate Registration Department in Sharjah explained that the real estate sector in the emirate enjoys continuous support from His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and continuous follow-up by His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Executive Council of the Emirate, which was reflected in the positive results being achieved.
Al Shamsi pointed out the many developments and procedures that support the development of the real estate sector and enhance its results, indicating that the continuous rise in real estate transactions reflects investors’ confidence in the real estate market in the emirate and investors’ determination to own and invest in Sharjah. He noted the increase in demand for all transactions and the rise in title deeds transactions, sales transactions and preliminary contract transactions due to the public’s interest in development project units, indicating that these positive results witnessed by the real estate sector in Sharjah herald further growth in real estate transactions in the future.
Population growth and increased demand
Al Shamsi also pointed to the role of population growth in the emirate and its direct impact on real estate demand, saying: “The emirate has witnessed an increase in demand for real estate as a result of population growth and urban expansion. This demand coincided with large investments in infrastructure projects, such as the development of roads and public facilities, which made real estate in Sharjah more attractive for housing and investment.’
120 Nationalities
The Emirate of Sharjah witnessed a significant increase in the number of investing nationalities, reflecting the growing demand for investment and ownership in the emirate. The number of nationalities traded reached 120 nationalities during 2024, compared to 103 nationalities traded in 2023, which is a positive increase witnessed by the real estate market in the emirate for several years. The number of properties traded by investors of various nationalities also increased last year to reach 45,676 properties compared to 31,229 properties in 2023. This is due to several factors, most notably the strength of the infrastructure, the diversity of the available real estate product, and the decision to allow non-citizens and Gulf nationals to own real estate in the Emirate of Sharjah.
Emiratis lead
In terms of trading volume by nationality, investments by UAE citizens of the total cash trading amounted to about 19.2 billion dirhams, representing 48% of the total, while Gulf citizens, excluding Emiratis, made up 2.3 billion dirhams, representing 5.7%, while investments by Arab citizens rose to 7 billion dirhams, equivalent to 17.5%. Similarly, investments by citizens of other countries achieved a record increase, totaling about 11.5 billion dirhams, representing 28.8% of the total value of investments.
As for the number of properties traded, Emirati investors topped the list with 30,638 properties, followed by investors from India with 2,698 properties, then Syrian investors with 1,761 properties. They were followed by investors from Iraq with 1,012 properties, Egypt with 957 properties, and finally, Pakistan with 865 properties.
Mortgages
The value of mortgages amounted to AED 10 billion, through 2,558 mortgage transactions through 32 financing entities. As for the highest areas in terms of the number of mortgage transactions, the Muwailih Commercial Area topped the list with 457 transactions worth AED 2.1 billion, followed by the Umm Funnain area with 352 transactions worth AED 657 million, then the Tilal area with 247 transactions worth AED 611 million, and the Al Khan area with 155 transactions worth AED 1.4 billion.
Benefit Sale Transactions
As for benefit sale transactions, they were distributed across 11 areas during 2024 through 652 transactions with a total value of AED 1 billion. As for the highest areas in terms of the number of transactions, the Muwailih Commercial Area topped the list with 178 transactions worth AED 166 million. It was followed by Umm Funnain area with 104 transactions worth AED 186 million, then Al Khan area with 93 transactions worth AED 82.5 million.
Preliminary sales contracts
As for the preliminary sales contracts transactions by region in the Emirate of Sharjah for the year 2024, their number reached 10,084 contracts, with a value of AED 12 billion. As for the areas with the highest number of transactions, Muwailih Commercial Area topped the list with 3,328 transactions worth AED 3.5 billion, followed by Al Qasimia City with 1,168 transactions worth AED 825 million, then Tilal area with 861 transactions worth AED 2.9 billion.
14 New Projects
Reviewing the statistics of real estate projects, 14 new projects were registered in Sharjah during 2024 with residential, commercial and industrial uses, including 9 in the complexes category and 5 in the towers category. 20,197 properties were traded in real estate development projects in the emirate during 2024.
25 Projects Licensed
In order to meet the increasing demand for real estate units in the smiling emirate, the number of projects licensed by the Real Estate Development Projects Approval Committee in the emirate for ownership by all nationalities has increased to 25 real estate projects since the issuance of the decision, including 8 projects that obtained approval during 2024, and varied between complexes and towers with different uses, residential, commercial and industrial, by taking advantage of Executive Council Resolution No. (30) of 2022 regarding the ownership of real estate by non-citizens and Gulf nationals in the Emirate of Sharjah, which played an important role in supporting and sustaining the real estate sector throughout the past 12 months, and its continued increasing activity during the year 2025.