Real estate transactions in Sharjah reached $844 million in February

Sharjah recorded more than 4,450 real estate transactions last month, indicating a thriving sector.

According to the report on real estate transactions and mortgages issued by the Sharjah Real Estate Registration Department, the real estate sector in February reached a value of 3.1 billion AED ($844 million).

In February 2024, a total of 4,458 real estate transactions were completed across various regions and cities in the emirate. These figures highlight the continued significant growth and prosperity of Sharjah’s real estate sector. The emirate's development projects attract a substantial volume of local, Arab, and international funds and investments, offering high returns to investors.

Growth of Real Estate in Sharjah

The sector also benefits greatly from the continuous support of the Sharjah government, which provides various incentives and facilities for investors, entrepreneurs, and developers.

The total number of transactions conducted in February reached 4,458. Among these:

• 1,048 sales transactions, accounting for 23.5% of the total.
• 355 mortgage transactions, representing 8% of the total, with a combined value of 581.4 million AED ($158.3 million).
• 3,055 remaining transactions, making up 68.5% of the total.

Sales transactions took place across 101 areas in different cities and regions of Sharjah, covering a total area of 8.7 million square feet. The traded properties included residential, commercial, industrial, and agricultural lands.

In terms of property types, transactions included:

• 413 land plots
• 328 units in towers
• 307 built-up land transactions

Top Areas for Real Estate Transactions in Sharjah

The Muwailih Commercial area continued to lead in the number of sales transactions, recording 213 transactions, followed by:

• Rawdat Al-Qart with 138 transactions
• Al-Mazairah and Al-Khan, each with 77 transactions

Regarding transaction value, the Muwailih Commercial area topped the list with a total transaction volume of 382 million AED, followed by:

• Um Fanain (109.5 million AED)
• Al-Khan (84.2 million AED)
• Al-Sajaa Industrial (83.3 million AED)

Regional Market Insights

In the Central Region, transactions were concentrated in Al-Madina Al-Qasimia, with eight transactions, while Blida recorded the highest transaction volume at 13.4 million AED.

In Khor Fakkan, the Al-Bardi 4 area led with 11 transactions and also recorded the highest transaction volume in the city, reaching 6.9 million AED.

In Kalba, the Sur Kalba Commercial area topped the list with four transactions, while Al-Saaf 7 recorded the highest transaction volume at 1.5 million AED.

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Source: Arabian Business

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