Media ININ Economy We Trust
19-05-2019 media in \Sharjah
In the first three months of this year, real estate transactions in the Emirate of Sharjah registered AED 5.2 billion, with a total of 13,195 transactions. Of these, 1,131 transactions were sold for a total area of 10 million feet, according to the report of real estate transactions in the regions and cities of the Emirate In Sharjah.
“The emirate has become a safe haven for investors from within and outside the UAE thanks to the directives of His Highness Sheikh Dr. Sultan bin Mohammed Al Qassimi, Member of the Supreme Council and Ruler of Sharjah, to provide an environment conducive to real estate investment, this sector is vital for local investors, Arabs and foreigners.”
He pointed out that the federal and local laws and regulations that stimulate investment have contributed to maintaining the level of real estate investment in the country in light of the challenges that exist.
He said that the volume of real estate in the emirate reached AED 5.2 billion and the main branch in Sharjah City was 95.3 per cent of the total trading volume recorded during the first quarter of 2019, reaching AED 4.9 billion. Of the total volume traded, with the Central Region branch accounting for 2.4%.
Khor Fakkan branch achieved one percent and Kalbaa branch achieved 1.3 percent of total trading volume.
In February, the volume of transactions reached AED 2.2 billion, followed by AED 1.7 billion in March, while turnover in January reached AED 1.3 billion.
The number of sales transactions in the various regions of the Emirate during the first quarter to 1,131 transactions took the city of Sharjah, the largest share of them and issued by the areas of trade Muhail, Khan and Nhada and Hoshi and Almajaz 3.
As for the central region, the area of Al Taybeh 2 followed by the area of the characteristics and in the city of Khor Fakkan. The industrial area of Al-Harai came first with sales, followed by the Al-Lulawiyah area. The Kalba and Al-Saf industrial zones led sales in Kalba.
Residential real estate was the most active in the real estate sector during the first quarter of the year followed by commercial, industrial and agricultural properties, respectively.
The total number of mortgage transactions in the different regions during the first quarter of this year was 996 transactions whicch amounted to 2.97 billion dirhams and invested 31 nationalities from various countries in the real estate sector in the emirate during the same period.
