According to the Sharjah Real Estate Registration Department’s annual report, there were AED 1.2 billion in real estate transactions in the Central and Eastern Regions of the emirate in 2023 as opposed to AED 1 billion in 2022.
The department’s branches in the Central Region, as well as the cities of Khor Fakkan, Dibba Al-Hisn, and Kalba, handled these transactions in 114 areas, for a total of 26,172 real estate transactions.
During the same period, 4.4% of all trading in Sharjah’s real estate sector took place in the four branches combined. AED554 million worth of transactions occurred in the Central Region branch, accounting for 2% of the total trading volume; AED360 million worth of transactions were recorded in the Khor Fakkan city branch.
Additionally, the Dibba Al-Hisn branch recorded 0.1% of the total trading volume, valued at AED21 million, whereas the Kalba branch recorded 1% of the total trading volume, valued at AED265 million.
Omar Al-Mansouri, Director of the Branches Department at the Sharjah Real Estate Registration Department, said, “The real estate sector in the Central and Eastern Regions continued its high performance, achieving positive results and high growth rates during the past year, as a result of the implementation of a series of government policies and procedures, in addition to offering many investment options in the real estate market, which contributed to enhancing investor confidence in the real estate market in the two regions”.
In addition, Al-Mansouri stated, “The comprehensive development renaissance witnessed by Sharjah in all its regions and cities has made the emirate an attractive destination for real estate development projects of all uses, as the eastern region hosts two of the latest real estate projects with sea and mountain views on the eastern coast, and the central region also includes the most important industrial real estate projects. The two regions have also become the ideal destination for various individuals and investors. In turn, we work in the Department to invest in resources and create innovative solutions that can help all investors and meet the needs of society. Moreover, by following a series of decisions issued by the wise leadership, we are also keen to set standards and procedures, and implement laws and legislation, which enhance the wheel of economic growth in Sharjah, and contribute to increasing the prosperity of real estate”.
Al-Mansouri made note of the fact that real estate transactions were broken down by branch, with 7,636 transactions occurring in the Kalba branch, 7,342 transactions occurring in the Khor Fakkan branch, 6,670 transactions occurring in the Central Region branch, and 4,524 transactions occurring in the Dibba Al-Hisn branch.
Al-Mansouri, meanwhile, reported that 872 sales transactions totaling approximately AED 700 million were conducted in the Central and Eastern Regions of Sharjah, spread across 114 regions.
In detail, the number of sales transactions in the Central Region reached 434 transactions, and took place in 42 different areas, with a total value of about AED400 million. “Al-Madina Al-Qasimia” accounted for the largest share of these sales, with 190 transactions, representing 44% of the total sales transactions, followed by the “Blida” area with 36 transactions, then the “Tawi Hamda” area with 19 transactions.
AED 145 million was the total value of 224 sales transactions that took place in 36 different areas of Kalba. Thirty percent of the city’s total sales transactions were recorded in the “Kalba Industrial” and “Industrial area” with 67 transactions.
In Khor Fakkan, there were 193 sales transactions total, with a value of about AED 140 million, occurring in 31 different parts of the city. With 45 transactions, “Hay Al-Haray Commercial” and “Hay Al-Haray Industrial” accounted for more than 23 percent of these transactions.
Lastly, there were 21 sales transactions totaling AED 14 million in the city of Dibba Al-Hisn, which were split among 5 areas. With 13 transactions totaling 62% of the city’s total sales transactions, the majority of the transactions took place in the “Hay Al-Shamali.”