Sharjah's real estate sales deals hit $1.1bln in July

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UAE - The real estate market in Sharjah continues its growth, achieving a trading value of AED3.9 billion ($1.1 billion) in prime areas of the emirate during July 2024, according to the "Real Estate Market Performance Report" issued by Sharjah Real Estate Registration Department.

The total number of transactions reached 4,146, while the total area traded in sales transactions reached 13.8 million sq ft during the same period.

These results confirm the attractiveness of the real estate market in Sharjah, and its growing ability to attract local, Arab, and foreign investors alike. It presents multiple investment options, strong infrastructure, and a fair regulatory legislation which all together provide strong opportunities for investors.

All these distinguished features are accompanied by many new real estate projects launched by the public and private sectors in many areas, due to the increase in population and expatriates coming from abroad for the purpose of investing or working in the emirate.

In detail, the statistics showed that the total number of transactions carried out in July reached 4,146 transactions, with the number of sales transactions reaching 1,460, representing 35.2% of the total number of transactions.

Moreover, the number of mortgage transactions reached 385, representing 9.3% of the total transactions, and with a total value of AED1.4 billion, while the remaining real estate transactions reached 2,301, representing 55.5% of the total number of transactions.

Sales transactions took place in 119 areas distributed across the various cities and regions of the emirate of Sharjah, and these properties included residential, commercial, industrial, and agricultural lands. As for the type of traded property, they were 568 of lands, 544 of built-in lands, and 348 transactions for the units sold in towers.

The total sales transactions in Sharjah City amounted to 1,304, with “Muwaileh Commercial” area recorded the highest number of sales transactions, with 352 transactions, followed by “Tilal” area with 145 transactions, “Rawdat Al-Qart” area with 127, and “Al-Khan” area with 89 transactions.

As for the areas with the highest trading value, “Muwaileh Commercial” area also came first, with a trading value of AED 251 million, followed by “Tilal” area with AED232.9 million, “Al-Sajaa Industrial” area with AED139.4 million, and “Hoshi” area with AED 88.6 million.

In the Central Region, the sales transactions reached 110, most of which were concentrated in “Al-Qasimia City” with 77 transactions, which also recorded the highest trading value reaching AED 55.4 million.

As for KhorFakkan, it recorded 26 sales transactions. "Hay Al-Harai Industrial" area ranked the highest in terms of sales transactions with 7 transactions, while "Hayawa 4" was the highest area in terms of trading value with AED 3 million.

Finally, 18 sales transactions took place in Kalba city, and were led by "Al-Tarif 5" area with 6 transactions, which was also the highest area in terms of trading value, amounted to AED 3.7 million.