According to the Real Estate Transactions Movement Report released by Sharjah Real Estate Registration Department (SRERD), the value of real estate transactions in Sharjah during April of this year grew to AED2.8 billion from AED1.7 billion in March. “In light of the economic stability that characterizes Sharjah, in addition to its prominent strategic location in the middle of the other emirates, this growth continues at an upward pace, making this sector a major attraction for local, Arab and foreign investors and enhancing the emirate’s position and reputation as a leading global destination,” said the report.
Major real estate development firms in the pleasant emirate have continued their operations, which has contributed to this astounding rise. Additionally, it is because of the financial resources made available to the business community and the integrated modern lifestyle that the emirate offers to its people and residents as a result of the infrastructure development, growth of the road network, and establishments for public services. Additionally, H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and H.H. Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of the Sharjah Executive Council (SEC), with their support and eagerness to enhance the growth of the real estate sector, help to regulate and stabilize the real estate sector.
According to the SRERD’s monthly report, the department handled 2,614 real estate transactions in April. 504 sales transactions made up 19.3% of all transactions, while 585 mortgage deals, accounting for 22.4 percent of all transactions and totaling AED1.7 billion, made up the remaining transactions. A total of 1,525 other real estate transactions made up the remaining transactions, accounting for 58.3 percent of all transactions.
The report also showed that 62 different areas spread over the emirate of Sharjah’s real estate market sales total area of 4.6 million square feet. Residential, commercial, industrial, and agricultural real estate were among the different sorts that were traded.
187 deals for the sale of tower units were made in total. The total number of land transactions was 122, while the built-in land was responsible for 195 transactions.
Due to two projects in the area, the Mezair’ah area had the most sales transactions in Sharjah, according to the report, with 123 transactions. Muwaileh Commercial came in second with 89 transactions, the Al-Khan area came in third with 43 transactions, and the “Rodat AlQarat” area came in last with 29 transactions.
Al-Layah area was the most active area in terms of trading volume with AED414.7 million, followed by Muwaileh commercial area with AED180.9 million in trading value, “Mezair’ah area” with AED32.7 million in trading volume, and Industrial Area 12 with AED29 million in trading value.
The Al-Qasimiah sector in Sharjah’s central region saw the most sales activity, with ten deals totaling AED7.9 million.
Khor Fakkan saw the most sales transactions, with two, in the Al-Haray industrial sector, while the largest selling value—AED612,000—was recorded in the “Al-Baradi 1” area.
The “industrial area” in Kalba City had the most sales transactions, ten in all, making it the area with the highest number of sales. Additionally, it had the greatest trading value at AED 4.1 million.