According to the Sharjah Real Estate Registration Department’s monthly report, Sharjah registered real estate transactions totaling AED1.9 billion in July 2023.
A total of 2,783 transactions totaling more than 6 million square feet were carried out by the department, 684 of which were sales deals spread across 96 different locations throughout the emirate.
Important tributary of economy
Due to the government of Sharjah’s goal to diversify revenue streams, the real estate market in Sharjah has grown and developed so significantly throughout the years, becoming a significant economic tributary for the emirate.
Due to the numerous investment opportunities provided by the emirate, as well as the introduction of more new projects that are planned and carried out in accordance with the highest international standards, it is also anticipated that the Sharjah real estate market will experience further growth in the upcoming months.
According to information provided by the department, there were 2,783 total transactions carried out in July, with 684 of those being sales transactions, or 24.6% of all transactions.
Additionally, there were 447 mortgage transactions, or 16.1 percent of all transactions with a value of AED 420.1 million. 1,652 separate transactions made up 59.3 percent of other transactions.
Transactions across various cities and regions
The sales were conducted at 96 locations spread throughout different towns and districts of the emirate of Sharjah. Residential, commercial, industrial, and agricultural lands were all included in these holdings. There were 180 land transactions in terms of the different types of regions transferred.
According to the data, “Mezair’ah” had the most sales transactions overall in Sharjah with 132. “Muwaileh Commercial” came in second with 102 transactions, followed by “Al-Khan” with 78 transactions and “Al-Majaz 3” with 36 transactions.
In terms of the areas with the highest volume of transactions in terms of money, “Muwaileh Commercial” area came out on top with a value of AED82.8 million, followed by “Al-Sajaa Industrial” area with a value of AED57.8 million, “Al-Rigaibah” area with a value of AED42.8 million, and “Al-Khan” area with a value of AED38.6 million.
With regard to the transactions carried out in the central region, they were mostly concentrated in the “Al-Qasimia” and “Al-Blida” sectors, with 8 transactions each. Al-Blida had the largest monetary value, at AED15.5 million.
Al-Haray Industrial and Al-Haray Residential each had three transactions in Khor Fakkan, with Al-Mudaifi recording the highest transaction value of AED1.4 million.
The business districts of Sur Kalba, Sur Kalba, and Al-Saf each saw three transactions in the city of Kalba, with Al-Saf recording the highest dollar value of AED5.7 million.