According to the Real Estate Transactions Movement Report published by the Sharjah Real Estate Registration Department (SRERD), the real estate industry in Sharjah registered AED 2.8B worth of transactions in April. This amount represents a 65% increase from the AED 1.7B recorded in March. The SRERD’s monthly report also revealed that 2,614 real estate transactions were conducted by the department in April.
Out of the total real estate transactions carried out by the Sharjah Real Estate Registration Department in April, sales transactions constituted 19.3% with 504 transactions. Meanwhile, mortgage transactions made up 22.4% of the total transactions with 585 transactions amounting to a total value of AED 1.7B. The remaining 58.3% of the total transactions were comprised of 1,525 other real estate transactions.
The report said: “In light of the economic stability that characterises 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”.
The sustained efforts of major real estate development companies in the emirate are attributed to the significant growth in the real estate market. The report further indicated that the sales transactions covered over 62 areas in various parts of the emirate of Sharjah, with a total area of 4.6 million sq ft.
The types of real estate traded included: Residential, Commercial, Industrial, and Agricultural land. According to the Real Estate Transactions Movement Report issued by Sharjah Real Estate Registration Department, the number of transactions for units sold in towers was 187, while the number of land transactions was 122, and 195 transactions were for built-in land.
Mezair’ah area had the highest number of sales transactions in Sharjah, with 123 transactions, followed by Muwaileh Commercial with 89 transactions, Al-Khan area with 43 transactions, and “Rodat AlQarat” area with 29 transactions.
Al-Layah area had the highest trading volume of AED 414.7M, followed by Muwaileh commercial area with AED 180.9M and Mezair’ah area with AED 32.7M. In the central region, Al-Qasimiah area had ten transactions with a trading value of AED 7.9M.
Al-Haray industrial area was the highest area in terms of the number of sales transactions in Khor Fakkan, with two transactions, while Al Baradi 1 area recorded the highest trading value of AED 612,000.
In Kalba City, the industrial area had the highest number of sales transactions, with ten transactions and the highest trading value of AED 4.1M. The growth was attributed to the continued activities of major real estate development companies in the emirate.