According to figures released on Thursday, Sharjah had real estate sales of Dh16.6 billion in the first nine months of 2022.
The Sharjah Real Estate Registration Department (SRERD) reported that a total of 65,314 transactions took place throughout the emirate during the time period.
“The real estate market in the Emirate of Sharjah has achieved an upward recovery and positive growth in sales transactions during the first three quarters of 2022, in addition to the launch of new real estate projects. Despite the continued volatility of international oil prices and its impact on the business sector, real estate remains a steady economic component, capable of self-sustaining business activities, vitality, and attractiveness by businessmen and investors,” said Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department.
With a trading volume of Dh2.7 billion, March was the best month, followed by Dh2 billion-plus August and Dh1.97 billion-plus June.
Real estate transactions in Sharjah totaled Dh2 billion in August.
The major branch in Sharjah, with a value of Dh16 billion, reportedly witnessed 96.5% of the overall transaction value. The remaining 3.5% of the overall trading value, or roughly Dh600 million, was divided among the Central Region, Khorfakkan, Dibba Al Hisn, and Kalba branches.
In terms of transactions, Sharjah saw 38,902 transactions, Khorfakkan 8,635 transactions, Kalba 7,563 transactions, Dibba Al Hisn 5,560 transactions, and the Central Region 4,654 transactions.
In the first half of ’22, Sharjah records real estate transactions worth Dh11.2 billion.
New projects
In the first nine months, ten new real estate projects were registered around the emirate. These were separated into residential projects, commercial projects, residential projects, and other projects that blended commercial and residential components.
Investors from 79 countries
During that time, investors from 79 different countries traded on 20,280 properties, of which 731 were sold through usufruct transactions.
9,696 Gulf investors traded 17,337 properties, totaling Dh12.2 billion in investments made by Gulf residents. Other nationalities made Dh4.4 billion in investments through 2,752 properties and 2,540 investors.