In the first half of 2023, Sharjah’s real estate market recorded a trade value of AED13.4 billion, a rise of 19.2% over the same time in the previous year.
In the first half of 2023, there were 40,843 transactions, and the value of real estate mortgages was AED4.1 billion, according to the semi-annual report on real estate in the emirate published by the Sharjah Real Estate Registration Department.
Abdulaziz Ahmed Al-Shamsi, Director-General of Sharjah dex Estate Registration Department, said, “The real estate sector in Sharjah continues to be one of the most important economic pillars in the emirate and it continues to accumulate achievements and overcome challenges thanks to the great support of our wise government led by H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Executive Council of Sharjah, and their keenness to support the growth of this vital sector, and ensure its ability to overcome all circumstances.”
He also emphasized how the government’s incentives and facilities during the previous year helped Sharjah’s real estate market attract investors from 88 different countries during H1.
Sales Transactions by Regions
43 million square feet were exchanged in total during the first half of this year in sales transactions.
Additionally, 4,187 sales transactions of AED5.7 billion were completed in the emirate’s various districts during H1 2023. The majority of the transactions were in the city of Sharjah, where 3,794 of them totaled AED5.4 billion and were spread among 106 locations. The top areas in Sharjah city were Muwaileh Commercial Area, Mezair’ah, Al-Khan, and Hoshi Areas. The total number of Benefit Sale transactions reached 355, totaling AED497 million.
Residential transactions continue to lead
When sales transactions were divided up into different property types, residential real estate transactions took up the greatest portion, accounting for 3,332 transactions, or 79.6% of all transactions. Commercial real estate came in second with 373 deals, or 8.9 percent of all sales, then industrial real estate came in third with 410 transactions, or 9.8 percent, and agricultural real estate came in fourth with 72 transactions, or 1.7 percent.
In terms of exchanged properties, there were 4,187 transacted properties in Sharjah overall. Residential Built-in Lands came in last with 498 properties, followed by Residential Apartments with 1,293 properties. Residential Lands had the most properties overall with 1,327.
Investors from 88 nationalities
88 different countries made investments in Sharjah in H1 2023. Investors from Gulf nations made up 525 of the total number of investors, which was 7,033 Emiratis. Additionally, there were 1,824 investors from the Arab world and 1,278 investors from other nations.
The entire investment of GCC investors, excluding Emiratis, came to AED 697.9 million with 672 properties, while the total investment of Emirati investors totaled AED 8.8 billion with 10,877 properties.
The total investment by foreign investors was AED2 billion with 1,181 properties, compared to AED2 billion with 2,023 homes for Arab investors.
The top five nationalities that traded real estate in Sharjah were, in order, UAE nationals (10,877 properties), Syrians (633), Indians (473), Saudis (302), Jordanians (282), and Iraqis (248).