According to a study released by the Sharjah Real Estate Registration Department, real estate in Sharjah increased in November with property deals totaling $745 million (AED2.7 billion), up from a more modest $517 million (AED1.9 billion) in October (SRERD).
2,813 real estate transactions were carried out in November. 650 were sale transactions, constituting 23.1 percent. In contrast, mortgage transactions increased to 322, comprising 11.4 percent of the total transactions amounting to $251m (AED921m), with the remaining 1,841 transactions distributed over other real estate transactions, representing 65.5 percent of the total. The report revealed that real estate market sales covered a total area of 13.3 million square feet, distributed over 99 locations in various cities of Sharjah.
Types of real estate traded included residential, commercial, industrial, and agricultural lands. The transactions of subdivided towers totalled 265 and accounted for 40.8 percent of the total sale transactions. Vacant land transactions reached 194, representing 29.8 percent of the total, while 191 transactions were attributed to the built-up land sector, equating to 29.4 percent.
In November, the real estate market focused on the Muwailih Commercial area of Sharjah with 151 transactions, followed by Hoshi and Al Khan areas with 71 transactions each, and then Al Majaz 3 with 48 transactions. Muwailih Commercial also led the monetary value of real estate transactions with a total of $53m (AED193.9m), followed by the Al Majaz 3 area with a total of $22m (AED80.1m).
The Al Khan area recorded $20m (AED73.4m) in transactions, while sales transactions in the station area totalled $15m (AED55m). In the central region of Sharjah, deals focused on the Al Blelaida region with seven transactions and a trading value of $22m (AED79.3m). Al Taiba 1 region recorded five transactions, totalling $1.5m (AED 5.6m), and then the Seh Al Sadah region recorded four transactions with a total value of $762k (AED2.8m).
While most of the deals conducted in Khorfakkan in the Al Mudeife area came with four transactions, with a total trading value of $1.9m (AED6.9m), and with the same trading volume, two transactions were recorded in the Al Loleya area.
The Al Saf region in Kalba witnessed the registration of four transactions, while the industrial and commercial areas of Sur Kalba recorded two transactions in each region.
In terms of the monetary value of real estate transactions, the Al Saf region recorded $953k (AED3.5m), transactions with a value of $871 (AED3.2m), and then the Al Mussalla area with a value of $790k (AED2.9m).
Real estate transactions in Sharjah amounted to $4.5bn (AED16.6bn) in the first nine months of 2022, according to a report by the Sharjah Real Estate Registration Department (SRERD). The statistics shows that during that time, there were 65,314 transactions made in the emirate.
