Sharjah has recorded real estate transactions worth AED1.9 billion during July 2023, according to the monthly report issued by Sharjah Real Estate Registration Department. The department executed a total of 2,783 transactions of which 684 were sales transactions across 96 areas, distributed over the various regions of the emirate, and with more than 6 million square feet of traded area.
Important tributary of economy
Such growth and development in the real estate market in Sharjah throughout the years, are due to the strategy of the Sharjah government to diversify sources of income, making it an important tributary of the economy in the emirate.In addition, it is expected that the real estate market in Sharjah will witness further growth during the coming months, thanks to the many investment opportunities offered by the emirate, especially with the introduction of more new projects that are planned and implemented in accordance with the highest international standards. The Department’s statistics showed that the total number of transactions executed in July reached 2,783, as the number of sales transactions were 684, or 24.6 percent of the total number of transactions. Moreover, the number of mortgage transactions were 447, constituting 16.1 percent of the total number of transactions with a value of AED420.1 million. Other transactions accounted for 59.3 percent, with 1,652 different transactions.
Transactions across various cities and regions
The sales transactions took place in 96 areas distributed over various cities and regions of the emirate of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. With regards to the type of areas traded, there were 180 land transactions.The report also showed that “Mezair’ah” topped the list of areas with the highest number of sales transactions in Sharjah with 132 transactions, followed by “Muwaileh Commercial” area with 102 transactions, then “Al-Khan” area with 78 transactions, and “Al-Majaz 3” area with 36 transactions. As for the areas with the highest volume in terms of monetary value, “Muwaileh Commercial” area topped the list with a value of AED82.8 million, followed by “Al-Sajaa Industrial” area with a value of AED57.8 million, then “Al-Rigaibah” area with AED42.8 million, and “Al-Khan” area with AED38.6 million. As for the transactions executed in the central region, it was mostly focused in “Al-Qasimia” and “Al-Blida” areas with 8 transactions each, while the highest area in monetary value was “Al-Blida” with a value of AED15.5 million. In Khor Fakkan, the Al-Haray industrial and Al-Haray Residential areas recorded three transactions each, while Al-Mudaifi recorded the highest monetary value with AED1.4 million. Finally, in the city of Kalba, the commercial areas of Sur Kalba, Sur Kalba and Al-Saf recorded three transactions each, while Al-Saf area had the highest monetary value, which amounted to AED5.7 million.