According to a report, the value of real estate transactions in the Emirate of Sharjah increased to AED2.7 billion ($735 million) in November from AED1.9 billion the previous month.
According to a report from the Sharjah Real Estate Registration Department, a total of 2,813 real estate transactions were made over the time period, with 650 of those being sales, or 23.1% of all transactions (SRERD).
The number of mortgage transactions grew to 322, making up 11.4 percent of the AED921 million in total sales. The remaining 1,841 transactions, which made up the remaining 65.5 percent of the total, were spread out across different real estate transactions.
According to the research, real estate market sales in Sharjah spanned a total area of 13.3 million square feet, spread across 99 locations. Residential, commercial, industrial, and agricultural real estate were all traded.
A total of 265 subdivided tower deals totaling 40.8 percent of all sale transactions were made. 194 sales involving vacant land made up 29.8% of the total, while 191 transactions involving built-up property made up 29.4% of the total.
According to the survey, Sharjah’s Muwailih Commercial area saw 151 transactions during November, followed by the Hoshi and Al Khan sectors, which saw 71 transactions each, and Al Majaz 3 with 48 transactions.
The Al Majaz 3 neighborhood came in second with a total of AED80.1 million, followed by Muwailih Commercial with a total of AED193.9 million.
AED73.4 million worth of sales were made in the Al Khan neighborhood, while AED55 million worth was made in the station neighborhood.
Deals in the Emirate of Sharjah’s central region were concentrated in the Al Blelaida sector, with seven transactions totaling AED79.3 million. The Seh Al Sadah region had four transactions with a total value of AED2.8 million after the Al Taiba 1 region recorded five transactions totaling AED5.6 million.
While the majority of the transactions in Khorfakkan’s Al Mudeife neighborhood involved four transactions totaling AED6.9 million and a similar level of selling, two transactions were reported in the Al Loleya neighborhood.
While the industrial and commercial areas of Sur Kalba registered two transactions in each zone, the Al Saf region in Kalba registered four transactions. Real estate transactions in the Al Saf region cost AED3.5 million, those in the Al Mussalla area cost AED3.2 million, and those in the Al Saf region cost AED2.9 million.