The number of real estate transactions in Sharjah surged in 2023 to its highest level since 2017, indicating that more capitalists, businesspeople, and investors are becoming interested in the sector as they seek significant returns in both short- and long-term scenarios.
The real estate market in Sharjah has expanded in terms of size, transactions, area, and investor engagement. The Sharjah Real Estate Registration Department reported a 13% increase in the volume of property transactions in 2023, totaling Dh27 billion.
“Strength and versatility” are the driving forces behind Sharjah’s real estate growth in 2023, according to Abdulaziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department.
103 investing nationalities
There were 103 different nationalities represented among the investors, indicating a 21% increase in diversity from 2022 and a 12% increase in the number of properties traded.
The trading volume and number of properties traded increased by 165 percent and 131.7%, respectively, for non-Arab foreign investors, and Dh7.5 billion was transacted in mortgages.
Gulf nationals and Arab citizens made up 6% (Dh1.6 billion) and 16% (Dh6 billion) of the total investments, respectively, with 56% of the investments going to UAE citizens.
Of the transactions, 21% (Dh 6 billion) were made up of investments made by foreign nationals. 1,469 properties were traded by Indian investors for a total of Dh2.8 billion. A total of Dh1.1 billion worth of properties were traded by Syrian investors.
Iraqi investors exchanged 609 properties worth Dh640.1 million, Jordanian investors 559 properties worth Dh647.4 million, Egyptian investors 555 properties worth Dh536.9 million, and Pakistani investors 549 properties worth Dh842.2 million.