According to the Sharjah Real Estate Registration Department, there were AED 839 million worth of cash transactions in the Central and Eastern regions.
The Sharjah Real Estate Registration Department said in a report released on Tuesday that a total of 19,658 transactions and 20 million square feet of area were traded in sales transactions. These transactions were conducted through the department’s four branches, which are the Central Region branch, Khor Fakkan, Dibba Al-Hisn, and Kalba branch.
Omar Al-Mansouri, Director of Branches Department at the Sharjah Real Estate Registration Department, stated, “The real estate sector in the Central and Eastern regions continues to grow at an upward pace while constituting a major attraction factor for Arab and foreign investors. This success comes in light of the availability of advanced infrastructure and legislation, the economic stability characterizing the emirate, and its prominent strategic location.”
Moreover, the report affirmed the importance of the competitive advantages offered by the Sharjah government to investors, in line with the sustainable development plans set within the framework of the economic diversification policy adopted by the wise government to build the economy of tomorrow”.
Al-Mansouri specifically said that the trading volume in the four branches made up 4.4% of the emirate’s overall trading volume in the real estate industry. While it reached AED274.8 million in Khor Fakkan at a rate of 1.4%, the total cash trading volume in the Central region reached AED376.3 million, or 2% of the total trading volume.
Furthermore, the overall trading volume in Kalba was AED172.3 million, or 0.9% of the total trading volume, whereas in Dibba Al-Hisn it was approximately AED15.6 million, or 0.1% of the total trading volume.
Al-Mansouri clarified that 423 mortgage transactions totaling AED 365 million were completed by the Department’s branches.
According to Al-Mansouri, there were 300 sales transactions in the Central region in the same time frame, totaling AED 260.5 million and occurring in 39 different regions.
With 120 transactions or 40% of the total sales transactions, Al-Qasimia City accounted for the largest portion of these transactions. The Blida region came in second with 28, followed by the Tawi Hamdah region with 16, and the Thumama region with 15.
Additionally, there were 132 transactions in Khor Fakkan, totaling AED 98.8 million and occurring in 29 different areas. Out of the total sales transactions in the city, Al-Harai Commercial and Industrial areas recorded 15 transactions apiece, followed by Al-Mudaifi area with 13 transactions and Al-Bardi 2 area with 12 transactions.
Regarding Kalba, 156 transactions totaling AED 80.4 million were made across 32 city areas. The Kalba Industrial area accounted for 18.6% of the total transactions, with 29 transactions. The Industrial area followed with 24 transactions, the Al-Saf area with 15 transactions, and the Sur Kalba Commercial area with 14 transactions.
Al-Mansouri disclosed that the 20 sales transactions totaling AED11.9 million in Dibba Al-Hisn were split among four areas. Al-Shamali recorded 13 transactions, accounting for 65% of all Dibba Al-Hisn transactions.