According to the Sharjah Real Estate Registration Department’s (SRERD) semi-annual report, AED 11.2 billion in real estate was traded in the first half of 2022.
There were 3,327 sales transactions totaling AED4.1 billion, of which AED3.9 billion were made in the city of Sharjah alone. Mortgages had a value of AED5.3 billion, while there were 141 sales of usufruct transactions of AED243 million. During this time, real estate transactions were carried out by investors from 75 different countries.
Abdulaziz Rashid Al Saleh, Director of the Sharjah Real Estate Registration Department, said, “The real estate sector in Sharjah continues to improve at an accelerating pace, taking advantage of the competitive opportunities enjoyed by investors despite any challenges, mainly due to the increase in the volume and number of transactions in the residential sector, as well as the launch of a number of major real estate development projects, which motivates investors to expand the transactions and conduct real estate deals, considering real estate the safest and most appropriate haven for their investments in light of the relative increase in inflation rates.”
Al Saleh noted that the rise in the total number of transactions carried out by the SRERD at its headquarters and branches during the first half of the year is proof that the industry is on the right track for future expansion.
Beneficiaries of all types of owners, investors, brokers, and developers are particularly interested in the numerous investment prospects combined with a growing population. This is in keeping with the goals of the sage leadership and the instructions of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, to harness the economic and social development that the emirate of Sharjah has seen for the benefit of its citizens and residents and to ensure that they enjoy the highest standards of living possible. He emphasized the significance of providing necessary services and infrastructure in order to achieve this aspirational government goal and mentioned that during the first half of the year, four significant development real estate projects—three residential and one commercial project—were registered.
The volume of Real Estate Trading According to the report’s specific findings, March had the highest trade volume in the first half of 2022, totaling AED 2.7 billion, followed by June’s AED 2 billion and February’s AED 1.9 billion.
With a value of AED10.9 billion, the Sharjah branch of the department accounted for 96.9% of the overall trading volume. The trading volume across the department’s four branches was AED346 million.
Transactions increase by 10.4% In comparison to the same period in 2021, when there were 40,294 transactions, the department’s transactions in the first half of 2022 totaled 44,485, an increase of 10.4%. The majority of these transactions increased in the current year at varying rates.
The majority of the transactions—26,729—were ownership certificates, accounting for 60% of the total, while the increase in ownership deed transactions—12,614, or 28.3% of the total—was mostly driven by sales and sorting activities. Similar increases were seen in valuation transactions (551 more) and mortgage transactions (2,560 more) of various types.
2,031 transactions made up the total number of initial sale contracts, 1,624 of which were for ownership purposes and accounted for roughly 80% of the contracts overall.
3,327 sales were made. 3,327 sales transactions were made in the first half of this year, up 16.2% from last year’s period. This includes 3,020 transactions in the city of Sharjah, which accounts for 90.8 percent of the total; 108 transactions were recorded in Kalba; 100 in the central region; 89 in the city of Khorfakkan; and 10 sales transactions were reported in Dibba Al Hisn.
Muwaileh Commercial is a leader in the area. Sharjah has a total of 100 areas, and the distribution of sales transactions indicates a very diverse range of business. Most significantly, 736 million dirhams worth of sales transactions totaling 716 transactions totaled 23.7 percent of all sales transactions in the city in the Muwaileh Commercial area. Al-Khan and Hoshi regions came in second with 1,429 transactions, accounting for 47.3% of all transactions in the city.
Additionally, there was a noticeable increase in the number of sales transactions in 10 locations, including Muwaileh Commercial, Al-Khan, Hoshi, Al Majaz 3, AlRigaibah, Al Sajaa Industrial, Rodhat Al Qrt, Al Majaz 2, Al Nahda, and Muzaira’a. These 10 locations accounted for 75.6% of all sales transactions, totaling 2,282 in all. The remaining 738 transactions were spread out over 90 other regions.
A total of 24 areas in the central region saw 100 sales transactions: 20 in the Al-Taybeh 2 area and 15 in the Al-Maliha area. While just four places in the city of Dibba Al-Hisn saw sales transactions, totaling 10, of which five were in Hay Al Shamali and three in Hay Al Seeh, there were 89 sales transactions in Khorfakkan’s 17 sections, including 18 in the Al-Harrai industrial region, or 20.2 percent. 20 different districts in the city of Kalba saw a total of 108 sales transactions. 27 trades, or 25% of all transactions, were in the industrial area.
128 Transactions for Usufruct Sales In the Emirate of Sharjah, 128 usufruct sales transactions totaling AED222.7 million were registered in the first half of this year. There were 62 transactions in the Muwaileh Commercial sector, accounting for 48.4% of the total trading value of AED131.3 million. The remaining 66 deals were spread out throughout the regions of Al-Khan, Al-Nahda, Telal, Al Sajaa Industrial, Al Rigaibah, and Al-Majaz 3.
Purchase and Sale of Usufructs 13 usufruct resale transactions totaling AED20.2 million in trading value were registered in the emirate over the last six months. Six transactions were made in Muwaileh Commercial, the same number in Al Nahda, and one transaction was completed in Tilal.
Real estate traded is categorized In the Emirate of Sharjah, traded real estate included residential, commercial, industrial, and agricultural holdings over an area of over 30 million square feet. It covered 1,042 empty parcels of land totaling 10.1 million square feet.
18 million square feet of built, under construction, and agricultural land were the subject of 843 transactions. A total of 1,142 tower units totaling 1.3 million square feet were sold.
Residential properties made up the majority of the total number of classified properties (71.9%), followed by industrial properties (11.7%), commercial properties (11.1%), and agricultural properties (5.3%).
75 nations’ worth of investors Real estate investors from 75 different countries completed deals on 14,646 properties during the first half of 2022. 6,492 GCC citizens invested in 12,428 properties, or 84.8 percent of all the properties traded. GCC nationals accounted for approximately AED8.2 billion in trading volume or 73.2% of the overall trading volume. While 15.1% of the total number of properties traded during this time period were invested in by 2,139 investors from different nationalities in 2,218 homes. 26.8% of all trading activity was made up of those investors, whose trading volume totaled AED3 billion.