The Sharjah Real Estate Registration Department registered 40,346 real estate transactions worth AED12.2 billion, marking a rise of 40.5% till June 2021 compared to the same period of last year, as per the department’s statistical report for the first six months of 2021.
Moreover, the total area covered in sales transactions was 75.2 million square feet.
This showed a 96.1% rise in transactions as against the same period in 2020, thanks to the return of business after the relative decline of the COVID-19 pandemic. The economic facilitation and incentives launched by the Executive Board in November 2020 boosted investors’ confidence in the market. Adding on, February saw an acquisition worth AED 690 million between real estate developers functioning in Sharjah for a luxurious residential project.
The department has also provided online services for some deals, and a pre-appointment reservation system.
Abdulaziz Ahmed Al Shamsi, General Manager of Sharjah Real Estate Registration Department, said that the department looks to improve a competitive business environment, accomplish several goals to encourage investment, and attract new investors from different countries.
There were 25,601 ownership certificate deals followed by 10,444 ownership deed transactions, with 2,289 initial sales contracts transactions. There were 1,457 mortgage transactions, while valuation transactions were 503, and broker’s card transactions were in the last position with a value of 52.
Until June 2021, the emirate registered 1,457 mortgage transactions worth AED5 billion, a rise of 25% compared to the same period of last year.
Meanwhile, there were 2,863 sales transactions in various regions of the Emirate until June 2021. The largest share was procured by Sharjah city with 2,546 transactions in 102 areas at a worth of AED4.9 billion.
The leading areas were Al Khan, Al Rigaibah, Hoshi, Al Nahda, and Al Majaz 3, with 1,435 transactions that accounted for 56.4 percent of all transactions. There were 398 transactions in Al Khan, accounting for 15.6% of the total in the city.
As for the Central Region, the number of transactions reached 94, with a total cost of AED82.3 million, across 28 different regions. These transactions were concentrated in Tayyabh 2 and Al Malha, accounting for 29.8% of the total sales numbering 28 whereas the other 66 were distributed in the remaining 26 regions.
The city of Khor Fakkan registered 77 transactions in 13 areas worth AED50.4 million. There were 30 transactions in Al Haray industrial area, Al Haray commercial area, and Hayawa, accounting for 39% of the total, whereas the remaining 47 transactions were distributed in 10 areas around Khor Fakkan.
In Kalba city, there were 140 transactions in 20 areas worth AED76.1 million. There were 84 transactions in the industrial and Al Saaf areas, accounting for 60% of the city’s transactions. The remaining 56 were distributed in 18 other regions.
Finally, there were 6 transactions in the city of Dibba AlHisn costing AED4.1 million. These were distributed in 3 areas, with the most traded being Al-Shamali Neighbourhood with 3, which accounted for 50% of the total transactions.
During that period, Sharjah also processed 133 usufruct transactions worth more than AED205 million, led by Muwailih Commercial area with 43, Tilal with 35, and Al Nahda with 32.
Residential transactions accounted for the largest share, with 49.6% of the total. Commercial transactions were next with 37.1%, followed by industrial transactions at 11.1%, agricultural transactions came in last at 2.2 percent. In terms of the number of transactions by property type, apartments accounted for the largest share, with 711, followed by residential land at 634, and residential built-in land with 559.
63 nationalities from worldwide invested in Sharjah during the first six months of 2021, with Gulf Cooperation Council citizens, including those from the UAE, investing a total of AED9.7 billion over 10,787 properties. Investments from other countries, incorporating Arab counties, amounted to AED2.5 billion across 1,961 properties.