The real estate sector in Sharjah continues to show robust growth, achieving a trading value of Dh3.9 billion across various regions and cities of the emirate in July 2024. This data comes from the “Real Estate Market Performance Report” issued by the Sharjah Real Estate Registration Department.
Transaction Volume and Market Appeal
During this period, the total number of transactions reached 4,146, with the area involved in sales transactions covering 13.8 million square feet. These figures underscore the sustained appeal of Sharjah’s real estate market, which continues to attract a diverse range of investors, including locals, Arabs, and foreigners. The emirate’s solid infrastructure, coupled with investor-friendly regulations, provides ample opportunities for those looking to invest. The market’s growth is further bolstered by numerous new real estate projects launched by both public and private sectors, driven by an increasing population and a steady influx of expatriates.
Detailed Transaction Breakdown
The report reveals that out of the 4,146 transactions carried out in July, sales transactions accounted for 1,460, making up 35.2% of the total. Mortgage transactions totaled 385, representing 9.3% of all transactions and amounting to Dh1.4 billion. The remaining 2,301 transactions, which comprised 55.5% of the total, were categorized under other real estate transactions.
Distribution of Sales Across the Emirate
Sales transactions were recorded across 119 different areas within Sharjah’s various cities and regions. These transactions included diverse property types such as residential, commercial, industrial, and agricultural lands. Specifically, 568 transactions were for land, 544 for built-on land, and 348 for units within towers.
In Sharjah City, 1,304 sales transactions were completed. The “Muwaileh Commercial” area led with 352 transactions, followed by the “Tilal” area with 145 transactions, “Rawdat Al Qart” with 127 transactions, and “Al-Khan” with 89 transactions.
Areas with the Highest Trading Values
In terms of trading value, “Muwaileh Commercial” also topped the list with Dh251 million, followed closely by “Tilal” at Dh232.9 million, “Al Sajaa Industrial” at Dh139.4 million, and “Hoshi” at Dh88.6 million.
In the Central Region, 110 sales transactions were recorded, with the majority taking place in “Al Qasimia City,” which had 77 transactions and the highest trading value of Dh55.4 million.
For Khor Fakkan, 26 sales transactions were completed, with “Hay Al Harai Industrial” area leading in transaction volume with seven transactions, while “Hayawa 4” recorded the highest trading value at Dh3 million.
Lastly, Kalba City recorded 18 sales transactions, with “Al Tarif 5” area leading with six transactions and the highest trading value of Dh3.7 million.