According to the Sharjah Real Estate Registration Department, the Sharjah real estate market saw tremendous expansion in October 2023. 3,798 transactions totaling AED 3.6 billion in trade value involving 8.2 million square feet were carried out throughout the emirate’s different regions.
When compared to September’s real estate activity, when the trade volume reached AED 2 billion through 2,519 transactions, this surge represents a significant increase.
The report emphasized the clients’ trust in the emirate’s real estate market, as well as its ability to draw in and increase the investments made by investors and the ongoing urban renewal taking place in Sharjah. Furthermore, the growth in October real estate highlights the emirate’s attractive investment incentives, variety of options, and financing facilities for both individuals and investors.
The report states that there were 3,798, total transactions, of which 903 were sales transactions, or 23.8% of the total. Of the total number of transactions, 2,539 constituted 66.8%, with 356 representing 9.4% of the total including mortgage transactions.
Sales transactions included residential, commercial, industrial, and agricultural real estate in 100 areas spread across multiple regions. 279 land transactions took place out of them, 289 of which involved built-in land and 335 of which involved subdivided towers.
In terms of sales transactions, the “Muwailih Commercial” area led with 207 transactions, followed by “Al-Khan” with 91, “Al-Mazairah” with 84, and “Tilal” with 70 transactions. In the monetary trading volume category, “Muwailih Commercial” again took the lead, registering AED233.6 million, followed by “Falah” with AED133.4 million, “Tilal” with AED67 million, and “Al-Khan” with a trading volume of AED63.9 million.