Media ININ Economy We Trust
September 11th
The real estate sector in the Emirate of Sharjah achieved a trading volume of two billion dirhams during the month of August 2023, which took place through 3,264 transactions, while the volume of area traded in sales transactions reached 5.1 million square feet, according to what was revealed by the monthly report on the movement of real estate transactions in areas And cities of the emirate, which was issued by the Real Estate Registration Department in the emirate.
The real estate sector is witnessing continuous growth every month thanks to the continuous patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of the Emirate of Sharjah, and the follow-up of His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, Chairman of the Executive Council of the Emirate of Sharjah. And the relentless efforts made by the emirate’s government to support the sector.
The department seeks to enhance the competitive business environment, to achieve a number of goals aimed at encouraging investment in Sharjah, attracting more new investors from various countries of the world, and then contributing to revitalizing the local economy and advancing economic development, to enhance the emirate’s position on the local and regional investment map. And universal.
Classification of transactions
The department’s statistics showed that the total number of transactions executed during the month of August reached 3,264 transactions, with the number of sales transactions reaching 781 transactions, representing 24% of the total number of transactions, and the number of mortgage transactions reaching 308 transactions, representing 9.4% of the total transactions, with a total value reaching 349. One million dirhams, while the remaining transactions of other disposals amounted to 2,175 transactions, or 66.6%.
sales transactions
Sales transactions took place in 105 areas distributed across various cities and regions of the emirate, and the total area of real estate traded in them amounted to 5.1 million square feet. These properties included residential, commercial, industrial and agricultural lands.
Regarding the type of real estate traded, 262 vacant lands were traded, while built-up land transactions reached 228 transactions, while the number of detached tower transactions reached 291 transactions out of the total transactions.
Muwaileh commercial center is the most traded
The report showed that the Muwailih commercial area topped the list of areas with the highest number of sales transactions in the city of Sharjah, with 168 transactions, followed by the Al Khan area with 75 transactions, then the Muzaira area with 73 transactions, and the Tilal area with 61 transactions.
As for the most active areas in terms of cash trading volume, the Muwailih Commercial District topped the list, with a trading value of 156.5 million dirhams, followed by Al-Riqqa Al-Hamra area, with a trading volume of 76.5 million dirhams, and the Al-Saja’a Industrial Area achieved a trading volume of 56 million dirhams, then the Tilal area with 53.6 million dirhams. million dirhams.
The trades carried out in the central region were concentrated on the Medina Al Qasimia region, with 14 transactions, and Blida, with 6 transactions. In terms of trading value, the Blida region witnessed trades worth 11.9 million dirhams, followed by the Medina Al Qasimia region, with a trading volume that reached 8.8 million dirhams.
In Khor Fakkan, the Hayawa 4 area was the highest trading area, with 5 transactions worth 2.6 million dirhams.
In the city of Kalba, the “Kalba Industrial” area achieved the highest number of sales transactions, with 6 transactions, while the “Al Saf” area was the highest in terms of trading volume, with a value of 1.5 million dirhams.
