Media ININ Economy We Trust
Sharjah, June 25 / The Emirate of Sharjah witnessed remarkable real estate activity last May with a total of 2.4 billion dirhams of transactions, which confirms Sharjah’s position as an ideal destination for investors, businessmen and families looking for security and living in a stable environment with serenity, prosperity and prosperity.
The “Mortgage and Disposal Movement Report” issued by the Real Estate Registration Department in Sharjah revealed that 3,540 transactions were recorded in various regions and cities of the emirate, while the total volume of the area traded in the Emirate of Sharjah reached 8.7 million square feet during the aforementioned period.
The results of the report indicated that the real estate sector maintained its leading position as a preferred destination for those wishing to own and invest in the emirate, benefiting from the increased level of demand for housing in the various regions of the Emirate of Sharjah, which is characterized by its diversity in terms of geographical location and the multiplicity of options in an environment with appropriate living costs and an advanced and integrated infrastructure. Supported by a high level of return on investment in real estate units, which was reflected in the growth of the population’s desire of citizens, residents and investors to own land and new housing units in order to settle and invest in an area that lives in security, peace, growth and prosperity.
The results of real estate transactions during last May confirmed the importance of the competitive advantages offered by the Emirate of Sharjah to investors in line with the sustainable development plans set by the emirate within the framework of the economic diversification policy adopted by the wise government to build a strong, sustainable and diversified economy.
And the department’s statistics indicated that the total number of transactions executed during last May reached 3,540 transactions, as the number of sale transactions reached 995 transactions, or 28.1% of the total number of transactions, and the number of mortgage transactions amounted to 733 transactions, or 20.7% of the total transactions, with a total value of 709.7 million dirhams, while the number of mortgage transactions amounted to 733 transactions, or 20.7% of the total transactions. The remaining transactions of other disposals are 1,812 transactions, or 51.2%.
The data of the report issued by the department revealed that sales transactions took place in 106 areas distributed in various cities and regions of the Emirate of Sharjah, where these real estate properties included residential, commercial, industrial and agricultural lands.
With regard to the type of real estate traded, 295 vacant lands were traded, and the number of built-up land transactions reached 300, while the number of sorted tower transactions reached 400 out of the total transactions.
The report showed that Muzaira’a topped the list of areas with the highest number of sales transactions in the city of Sharjah with 158 transactions, followed by Muwailih commercial area with 155 transactions, then Al Khan area with 87 transactions, then Al Mamzar area with 74 transactions.
As for the most active areas in terms of cash trading volume, the “Muwaileh Commercial” area topped with a turnover of 160.6 million dirhams, followed by “Al Nahda” with a turnover of 75.8 million dirhams, then “Industrial Area No. 12” with a turnover of 75.5 million dirhams, then the “Al Saja’a-Industrial” area. At 63.2 million dirhams.
The transactions executed in the central region focused on Al Qasimia City, with 43 transactions, with a trading volume of 23.7 million dirhams.
And in Khor Fakkan, the areas of “Al-Bardi 2, Al-Bardi 7, Al-Mudifi 3 and Al-Zubara neighborhood” witnessed two transactions for each of them, while the “Al-Sharq neighborhood” came as the highest area with a volume of trading that reached 3.8 million dirhams.
In the city of Kalba, the “Kalba Industrial and Industrial” areas topped with 4 transactions each, while the “Industrial Area” was the highest area in terms of trading volume, which amounted to 1.9 million dirhams.
