With 4.6 million square feet of traded area in the emirate.. Real estate transactions in Sharjah increased to AED 2.8 billion in April
Sharjah, May 2023
According to the “Real Estate Transactions Movement Report” issued by Sharjah Real Estate Registration Department (SRERD), the monetary value of real estate transactions in Sharjah during April has noticeably increased to AED 2.8 billion, compared to a value of AED 1.7 billion of real estate transactions in the previous month.
In light of the economic stability that characterizes Sharjah, in addition to its prominent strategic location in the middle of the other emirates, this growth continues at an upward pace, making this sector a major attraction for local, Arab and foreign investors, and enhancing the emirate’s position and reputation as a leading global destination.
This remarkable growth, in some respect, is due to the continued activities of major real estate development companies in the smiling emirate. In addition, it is due to the financial facilities provided to the business sector, and the integrated modern lifestyle that the emirate provides to its citizens and residents, in light of the development of infrastructure and the expansion of the road network and public service facilities. Moreover, the strength and flexibility of legislation and laws helps regulating and stabilizing the real estate sector, in implementation of the directives of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of Sharjah Executive Council (SEC), and their great support and keenness to enhance the growth of this vital sector, as it is considered one of the most contributing sectors to the economy of the emirate and the UAE.
Executing 2,614 real estate transactions
The monthly report issued by SRERD indicated that the total real estate transactions carried out by the department amounted to 2,614 transactions during April. The sales transactions constituted 19.3% of the total transactions, with 504 transactions, while the mortgage transactions were 585 transactions comprising 22.4% of the total transactions, and with a total value of AED 1.7 billion dirhams. The remaining 1,525 transactions were distributed over a group of other real estate transactions, with a percentage of 58.3% of the total transactions.
Trading area of 4.6 million square feet in 62 areas
The report also revealed that the real estate market sales covered a total area of 4.6 million square feet, distributed over 62 areas in various regions of the emirate of Sharjah. The types of real estate traded included residential, commercial, industrial, and agricultural l.
The number of transactions for units sold in towers totaled 187 transactions. As for land transactions, the number amounted to 122 transactions, while 195 transactions were attributed to the built-in land.
Al-Layah area is the most active in terms of monetary value
The report showed that “Mezair’ah” area ranked the highest in terms of the number of sales transactions in Sharjah due to two projects in the area, with 123 transactions, followed by “Muwaileh Commercial” with 89 transactions, “Al-Khan” area with 43 transactions, then “Rodat AlQarat” area with 29 transactions.
As for the most active areas in terms of the monetary value, “Al-Layah” area came first with a trading volume of AED 414.7 million, followed by “Muwaileh commercial” area with a trading value of AED 180.9 million, ” Mezair’ah area with a trading volume of AED 32.7 million, then “Industrial Area 12” with a trading value of AED 29 million.
In the central region of Sharjah, sales transactions were focused on “Al-Qasimiah” area with 10 transactions, and a trading value of AED 7.9 million.
As for Khor Fakkan, “Al-Haray industrial” area came as the highest area in terms of the number of sales transactions, with 2 transactions, while “Al-Baradi 1” area recorded the highest trading value, which amounted to AED 612 thousand.
Finally, in the city of Kalba, the “industrial area” was the highest area in terms of the number of sales transactions, with 10 sale transactions, and it also recorded the highest trading value, which amounted to AED 4.1 million.
