Media ININ Economy We Trust
Sharjah on August 17 /
The Emirate of Sharjah recorded real estate transactions amounting to a total of 1.9 billion dirhams during the month of July 2023, according to the results of the monthly report issued by the Sharjah Real Estate Registration Department, while the total transactions executed by the department during the past month amounted to 2783 transactions, including 684 sale transactions, in 96 regions distributed over various Emirate regions, with a total area of more than 6 million square feet.
The real estate market in the Emirate of Sharjah is witnessing an upward growth path, and it records distinguished levels month after month, and year after year, which reveals the strength of this market and its attractiveness to local, Arab and foreign investors alike. The strategy of the Government of Sharjah to diversify sources of income, and an important tributary of the economy in the Emirate.
It is expected that the real estate market in Sharjah will witness further growth during the coming months through the many investment opportunities offered by the emirate, especially with the introduction of more new projects that are planned and implemented in accordance with the highest international standards to build integrated services communities, with a strong infrastructure that contributes to Enhance and raise the quality of life.
The department’s statistics indicated that the total number of transactions executed during the month of July reached 2783 transactions, as the number of sale transactions amounted to 684 transactions, or 24.6% of the total number of transactions, and the number of mortgage transactions amounted to 447 transactions, or 16.1% of the total, with a value of 420.1 million dirhams. Other actions accounted for 59.3% of the total transactions, with 1652 different transactions.
The sale transactions took place in 96 areas distributed over the various cities and regions of the emirate, and these properties included residential, commercial, industrial and agricultural lands.
With regard to the type of real estate traded, 180 vacant lands were traded, while built-up land transactions amounted to 256 transactions, while the number of sorted tower transactions reached 248 transactions out of the total transactions.
Mezaira’a topped the list of areas with the highest number of sales transactions in Sharjah with 132 transactions, followed by Muwaileh commercial area with 102 transactions, then Al Khan area with 78 transactions, and Al Majaz 3 area with 36 transactions.
As for the most active areas in the volume of cash trading, the Muwaileh commercial area topped with a turnover of 82.8 million dirhams, followed by the Saja’a Industrial area with a turnover of 57.8 million dirhams, then the Al-Raqiba area with 42.8 million dirhams, then the Al-Khan area with 38.6 million dirhams.
The transactions executed in the central region focused on Al-Qasimia City and Al-Blida with 8 transactions each, while the highest region in cash trading volume was Al-Blida, with a trading volume of 15.5 million dirhams.
In Khor Fakkan, the two regions of Al-Haray Industrial District and Al-Haray Residential District came with 3 transactions each, while Al-Modaifi came as the highest area with a volume of 1.4 million dirhams.
In the city of Kalba, the commercial areas of Sur Kalba, Sur Kalba, and Al-Saf came in the lead with 3 transactions each, while the Al-Saf region was the highest in terms of trading volume, which amounted to 5.7 million dirhams.
