SHARJAH - Sharjah Real Estate Registration Department (SRERD) has revealed that total transactions carried out during the past month amounted to 2,417 transactions across 71 different areas distributed over the Emirate of Sharjah.

The transactions are broken down as follows: 588 sales transactions, 338 mortgage transactions, and 1,491 classified as other miscellaneous transactions.

SRERD monthly report showed percentages of real estate transactions; sales transactions were recorded at 24.3 percent, while mortgage and other miscellaneous transactions hit 14 percent and 61.7 percent, respectively.

Abdulaziz Rashid Al Saleh, Director of the Sharjah Real Estate Registration Department, said, "Total trading volume this past July 2022 amounted to AED 1.4 billion; the number of mortgage transactions reached 338 in total, valued at AED 487 million, solidifying that the Department is working consistently on its vision to increase investments in the Emirate of Sharjah. Furthermore, the (SRERD) seeks to be a strong and confident presence in the investment and real estate sector, by implementing its mission through various targeted programmes and strategies, in addition to working diligently to activate various opportunistic channels and mechanisms of communication and interaction with investors. We hope to continue contributing to quality real estate provisions in Sharjah, and are working hard to enhance attracting investment to this sector, to ultimately push the wheel of economic growth to cover wider surrounding areas."

He added, "The results of July 2022 confirm the accelerated progress, growth, and demand for real estate in the Emirate of Sharjah. The (SRERD) upholds its vision of transparency on all fronts, as it aligns with our institutional volumes. We commit to striving towards excellence in line with Sharjah's economic vision to witness a remarkable turnout from investors, and to set the stage for showcasing Sharjah as a safe and comfortable locality to thrive and invest in."

The Department's statistics indicated that the Muwaileh Commercial area boasted the highest number of sales transactions in the Emirate of Sharjah, amounting to 266 transactions in total. For further breakdown based on highest area in terms of trading volumes per city, the report ranked Muwaileh Commercial as the highest in Sharjah, Al Bardi 2 as the highest in Khorfakkan, Blida in the central region, and Al Baraha in Kalba city.

The report also indicated that the total number of sales transactions executed, categorised by type of property, was 588 sales in total. Among these, vacant lands within the Emirate of Sharjah showed 145 transactions, while 126 transactions took place on built-up land. Additionally, 317 transactions were related to detached towers.

The total traded area amounted to 2.8 million square feet and included residential, commercial, industrial, and agricultural land.

The report confirmed that the top four investment areas in Sharjah were: Muwailih Commercial, Al Khan, Al Sajaa Industrial, and Hoshi. In Khorfakkan, the top areas cited for investment purposes were: Al Zubarah Industrial, Al Bardi 2, Al Harrai industrial area, and Al Zubarah.

In the central region, trades focused on the city of Qasimia, Al Balida, Khedira 2, and Al-Taybeh 2 area, while in Kalba city, Industrial, Al Baraha, Sur Kalba commercial, and Al Bardi took the lead.