Over Dh19 billion worth of deals were made in the Sharjah real estate market in the first nine months of 2023. These transactions, which totaled 59,258, marked an increase of 14.6% from the same time last year. In addition, the total value of mortgages during this time was Dh4.4 billion.
6,342 sales transactions of Dh7.9 billion were made in Sharjah’s various regions, representing an 18.9% growth rate. These sales transactions had a total area of more than 59 million square feet. The majority of transactions, 5,734 totaling Dh7.5 billion, were conducted in Sharjah. With 1,164 transactions totaling more than Dh1.5 billion, the Muwailih Commercial Area led all other locations, followed by Muzaira’a, Al Khan, and Hoshi.
A total of 549 usufruct sale deals totaling Dh736 million were completed. The Tilal neighborhood registered the most trades (183), totaling Dh136.5 million. Muwailih Commercial Area contributed significantly to trading value with 146 transactions totaling Dh258.6 million.
According to a statement released on Tuesday by the Sharjah Real Estate Registration Department, real estate development companies in Sharjah completed a total of 4,200 initial sales contract transactions during the same time period, representing a growth rate of 34.3% from the prior year.
Residential properties
Residential properties made up the majority in terms of property types, accounting for 4,968 properties or 78.3% of all sales. Commercial properties came in second with 618 sales (9.8%), industrial properties came in third with 653 transactions (10.3%), and agricultural properties came in last with 103 deals (1.6%). There were 6,342 total properties exchanged in Sharjah, with residential lands accounting for the majority (1,988), followed by residential apartments (1,944), and residential built-in lands (714).
Investors from 97 nationalities
During this time, Sharjah attracted investors from 97 different countries. 15 857 houses were purchased with Dh11.1 billion from UAE residents. While residents of Arab nations invested Dh3 billion in 3,166 properties, inhabitants of Gulf Cooperation Council (GCC) countries (excluding Emiratis) invested Dh1.1 billion in 952 properties. 2,290 properties owned by foreign nationals donated Dh3.8 billion.
In Sharjah, the leading nations participating in property transactions were the UAE, Syria, India, Iraq, Jordan, Saudi Arabia, Egypt, and Kuwait.