The value of the emirate of Sharjah’s real estate transactions in May 2023 totaled AED 2.4 billion, further solidifying Sharjah’s status as a prime location for families, businesspeople, and investors.
3,540 transactions were recorded in various cities and regions of the emirate, according to the Real Estate and Mortgage Report published by the Sharjah Real Estate Registration Department (SRERD), which also noted that the total area traded in Sharjah during the aforementioned period was 8.7 million square feet.
The report’s findings also showed that the real estate market has retained its top spot as a favored option for people looking to invest in or buy property in the emirate. Additionally, there was a higher demand for housing in Sharjah’s many regions and neighborhoods because of the city’s diverse geographic location, wide range of housing alternatives, and adequate infrastructure.
The growing desire of citizens, residents, and investors to own land and new housing units was reflected in the developed and integrated infrastructure, supported by a high level of investment returns in real estate units, in order to settle and invest in an environment that provides security, peace, growth, and prosperity.
Additionally, the outcomes of real estate transactions in May 2023 highlight the significance of Sharjah’s competitive advantages to local, Arab, and international investors, in line with the emirate’s plans for sustainable development and within the framework of the wise government’s economic diversification policy adopted to build a strong, sustainable, and expanded economy.
According to figures provided by the Department, a total of 3,540 transactions were completed in May, with 995 of those transactions—or 28.1% of all transactions—being sales. In addition, there were 733 mortgage transactions, or 20.7 percent of all transactions, with a total value of AED 709.7 million, while there were 1,812 other disposal transactions, or 51.2 percent of all transactions, totaling 1,812 deals.
A total of 3,540 transactions were completed in May, with 995 of those transactions—or 28.1% of all transactions—being sales, according to data released by the Department. In addition, there were 733 mortgage deals, or 20.7 percent of all deals, with a total value of AED 709.7 million, and 1,812 other disposal sales, or 51.2 percent of all deals, totaling 1,812 deals.
According to the data, Mezair’ah area had the most sales transactions in Sharjah, with 158. Muwaileh Commercial area came in second with 155 transactions, Al-Khan area came in third with 87 transactions, and Al-Mamzar area came in fourth with 74 transactions.
When it comes to the areas with the highest volume in terms of money, Muwaileh Commercial Area came out on top with a value of AED 160.6 million, followed by Al-Nahda with a value of AED 75.8 million, Industrial Area No. 12 with a value of AED 75.5 million, and Al-Sajaa Industrial area with a value of AED 63.2 million.
The central region’s transactions, which totaled 43 and had a value of AED 23.7 million, were concentrated in Al Qasimiah.
There were two transactions in each of the Khorfakkan neighborhoods of Al Baradi 2, Al Baradi 7, Al Mudeife 3, and Al-Zubara, with Al Sharg having the highest value at AED 3.8 million. When it comes to transactions, Kalba’s Industrial Area and Kalba Industrial Area tied for first place with 4 each, while the Industrial Area’s transaction total of AED 1.9 million was the greatest value.