A thriving real estate movement in the Central and Eastern regions of Sharjah.. AED 549.4 million the volume of real estate transactions in Central and Eastern regions in Sharjah in the first half of 2023.

Al Mansouri: The advanced infrastructure and the major development projects in the Central and Eastern regions have led to a thriving movement in the real estate sector.

Government Communication Department – Real Estate Registration Department – Sharjah.

The annual report on the movement of real estate transactions in the regions of Sharjah, which was recently issued by Sharjah Real Estate Registration Department, revealed a great development in this sector outside the city of Sharjah. This thriving movement was evident as the volume of cash transactions in the Central and Eastern regions amounted to AED 549.4 million, and it was carried out through the department’s four branches in the Central region, and the cities of Khorfakkan Dibba Al-Hisn, and Kalba. Moreover, the total real estate transactions in the department’s branches reached 14,195 transactions, or 34.8% of the total transactions executed in the emirate during the first half of this year. While the total area traded in sales transactions amounted to 15.1 million square feet during the same period.

Omar Al-Mansouri, Director of the Branches Department at Sharjah Real Estate Registration Department, said: “The real estate sector is witnessing a thriving growth in various cities and regions of the emirate, thanks to the huge incentive packages and facilities which Sharjah government is keen to provide to investors from inside and outside the country. In addition, there are advanced infrastructure in the Central and Eastern regions and major development projects implemented by the government under the directives of our wise leadership in these two regions during the past years, such as road projects, infrastructure, hotels, tourist and heritage resorts, and environmental projects. Such projects reflected positively on the prosperity, growth, and development of real estate transactions in these regions during the first half of this year.”

Moreover, Al-Mansouri explained that the trading volume in the four branches constituted 4.1% of the total trading volume in the real estate sector in the emirate during the aforementioned period, as the total cash trading volume in the central region amounted to AED 231 million; reaching AED 185.4 million in Khorfakkan, AED 120 million in Kalba, and about AED 13 million in Dibba Al-Hisn.

Furthermore, the number of sales transactions in the central region during the above-mentioned period reached 197 transactions, which took place in 32 different regions, and with a total value of AED 173 million. Al-Qasimiah City acquired the largest part of these sales with 85 transactions, accounting for 43.1% of the total sales transactions, followed by Al-Thamamah region with 15 transactions, then Tawi Hamdah and Al-Belaida regions with 10 transactions each.

Moreover, according to the report, the number of transactions in the city of Kalba amounted to 98 transactions, which took place in 21 regions, and with a total value of AED 54.1 million. 21 of these transactions were recorded in the Industrial area at a rate of 21.4% of the total sale transactions in the city, followed by Kalba Industrial area with 18 transactions, and then As-Saaf area with 11 transactions.

As for the number of transactions in the city of Khorfakkan, it reached 84 transactions in 24 areas of the city, and with a value of AED 67.5 million. Out of this total, 12 transactions took place in Al-Mudeife area, at a rate of 14.3% of the total sale transactions in the city, followed by Al-Haray Commercial area with 10 transactions, then the Industrial and Al-Baradi-2 areas with 9 transactions each.

Finally, the sales transactions in the city of Dibba Al-Hisn were distributed among 3 regions, which took place through 14 transactions, and with a value of AED 9 million. More than 57% of these transactions took place in Hay Ash-Shamali, with 8 transactions.