According to the Real Estate Transactions and Mortgages Movement report published by the Sharjah Real Estate Registration Department, 4,458 real estate transactions took place in February 2024 across several different regions and cities, with a trading volume of AED 3.1 billion.
The emirate’s development projects have drawn a large number of local, Arab, and foreign funds and investments, which has led to high returns for investors. These results show that Sharjah’s real estate market is still growing and prospering significantly.
Furthermore, the government of Sharjah’s ongoing support for this industry has had a very positive effect. Beginning with the various facilities and incentives offered to real estate developers, investors, and business owners.
4,458 transactions had been completed in total during February. 1,048 sales transactions were made, accounting for 23.5 percent of all transactions. With a total value of AED 581.4 million, there were 355 mortgage transactions or 8% of all transactions. 3,055, or 68.5 percent of the total number of transactions, were the remaining transactions.
A total of 8.7 million square feet, or 101 areas spread across different cities and regions of Sharjah, were the site of the sales transactions. These assets comprised agricultural, commercial, industrial, and residential areas. In terms of the kind of real estate exchanged, there were 307 built-in land transactions, 328 tower units, and 413 lands.
“Muwailih Commercial” area continues to lead the list of areas with the highest number of sales transactions in Sharjah, recording 213 transactions, followed by “Rawdat Al-Qart” with 138, then “Al-Mazairah” and “Al-Khan” areas with 77 transactions each.
In terms of trading volume, “Muwailih Commercial” area also topped the list, with a trading volume of AED 382 million, followed by “Um Fanain” with AED 109.5 million, “Al-Khan” area with AED 84.2 million, and “Al-Sajaa Industrial” area with AED 83.3 million.
With eight transactions, “Al-Madina Al-Qasimia” accounted for the majority of the Central Region’s transactions, while “Blida” recorded the highest trading volume with AED 13.4 million.
With eleven transactions, the “Al-Bardi 4” area in Khor Fakkan topped the list and had the highest trading volume in the city, coming in at AED 6.9 million.
Lastly, the “Al-Saaf 7” area had the highest trading volume of AED 1.5 million, while the “Sur Kalba Commercial” area had the highest volume of 4 transactions in the city of Kalba.