AED3.9 billion ($1.1 billion) in prime areas of the emirate was traded for real estate in July 2024, according to the “Real Estate Market Performance Report” released by the Sharjah Real Estate Registration Department, indicating that the market is still expanding in Sharjah.
During the same period, 4,146 transactions were completed, and 13.8 million square feet of total area were traded in sales transactions.
These findings attest to Sharjah’s real estate market’s appeal and its increasing capacity to draw in local, Arab, and international investors equally. It offers a variety of investment options, a robust infrastructure, and just regulatory laws that, taken together, present excellent opportunities for investors.
Because of the emirate’s growing population and influx of foreign workers and investors, there are numerous new real estate projects being undertaken by both the public and private sectors in many areas, adding to the emirate’s unique characteristics.
In particular, the data revealed that there were 4,146 transactions completed in July, of which 1,460 were sales transactions, or 35.2% of the total number of transactions.
Furthermore, there were 2,301 real estate transactions—representing 55.5% of the total number of transactions—while there were 385 mortgage transactions, or 9.3% of all transactions, with a total value of AED 1.4 billion.
The emirate of Sharjah comprises 119 different cities and regions where sales transactions occurred. The properties that were sold included residential, commercial, industrial, and agricultural lands. There were 348 transactions for the units sold in towers, 568 lands, and 544 built-in lands as traded property types.
There were 1,304 sales transactions in Sharjah City overall. Of these, 352 were recorded in the “Muwaileh Commercial” area, followed by 145 in the “Tilal” area, 127 in the “Rawdat Al-Qart” area, and 89 in the “Al-Khan” area.
With a trading value of AED 251 million, the “Muwaileh Commercial” area ranked first among the areas with the highest trading value. After it came “Tilal” with AED 232.9 million, “Al-Sajaa Industrial” with AED 139.4 million, and “Hoshi” with AED 88.6 million.
There were 110 sales transactions in the Central Region; the majority of these were in “Al-Qasimia City,” where there were 77 transactions and the highest trading value of AED 55.4 million.
Regarding KhorFakkan, 26 sales transactions were noted. With seven sales transactions, the “Hay Al-Harai Industrial” area ranked highest, and with AED 3 million in trading value, the “Hayawa 4” area was the highest ranking area.
In the end, Kalba City saw 18 sales transactions, with the “Al-Tarif 5” area leading the way with 6 transactions. This area also had the highest trading value, totaling AED 3.7 million.