The real estate sector in the Emirate of Sharjah recorded remarkable growth during January 2024, as the volume of real estate transactions in the emirate reached 3.9 Billion Dirhams, according to the results of the monthly “Movement of Real Estate Trades and Mortgages” report issued by the Real Estate Registration Department in the Emirate of Sharjah.
The volume of real estate transactions in Sharjah
The results indicate an increase compared to January of last year 2023, during which the volume of cash trading amounted to only 2 Billion Dirhams. Likewise, the number of transactions carried out during the month of January 2024 witnessed a significant increase compared to their number last year, as it reached 5,412 transactions during January 2024, while their number reached In January of last year, there were only 2,999 transactions.
A prosperous year full of achievements for the real estate sector in Sharjah
These results herald a prosperous year full of achievements for the real estate sector in the emirate, which has become the focus of attention of investors and a destination for exhibitors and real estate developers in the country, the region and the world, as the emirate has succeeded in consolidating its position as a leading regional destination for investment in the real estate sector in light of the economic stability that characterizes Sharjah and its It has economic diversity, regulatory legislation and laws, and unprecedented packages of facilities and incentives offered by the Sharjah government to investors, in addition to a dynamic real estate market that has proven its ability to provide everything new in the field of real estate investment and has contributed to opening broader horizons for reviving and developing this sector, increasing its investments and highlighting the renaissance. The major urban development witnessed by the emirate and the state.
Total transactions executed during January 2024
The department stated in the latest statistics that the total number of transactions carried out during last January reached 5,412 transactions, with the number of sales transactions reaching 879 transactions, representing 16.3% of the total number of transactions, and the number of mortgage transactions reaching 288 transactions, representing 5.3% of the total transactions, with a total value amounting to 548.1 Million Dirhams. While the rest of the other transactions amounted to 4,245 transactions, representing 78.4% of the total number of transactions.
Sales transactions
The department noted that sales transactions took place in 106 areas distributed across various cities and regions of the emirate, and these properties included residential, commercial, industrial and agricultural lands. Regarding the type of real estate traded, 358 vacant lands were traded, while built-up land transactions reached 282 transactions, while the number of detached tower transactions reached 239 transactions out of the total transactions.
List of regions with the highest number of sales transactions
The report showed that the Muwailih commercial area topped the list of areas with the highest number of sales transactions in the city of Sharjah, with 122 transactions, followed by the Muzaira’a area with 114 transactions, then Al Khan area with 61 transactions, and the Hoshi area with 43 transactions.
The most active areas in cash trading volume
The most active areas in cash trading volume were Muwaileh commercial area with a trading value of 164.1 Million Dirhams, followed by Al Saja’a Industrial Area with 152.5 Million Dirhams, then Al Khan area with 79.2 Million Dirhams, then Al Mamzar area with 71.7 Million Dirhams, and the transactions carried out were concentrated in the region. Al Wusta surpassed Madinat Al Qasimia with 46 transactions, which also topped the region with the highest cash trading volume with 32 Million Dirhams.
Highest trading volume areas
In Khor Fakkan, the Al-Harari District industrial area topped with 7 transactions, while the “Hiyawa 4” district came as the highest area in terms of trading volume, which reached 3.2 Million Dirhams, and in the city of Kalba, the “Al-Turaif 5” area topped with 4 transactions, which also topped the highest area in terms of trading volume. Trading amounted to 1.5 million dirhams.