When the number of real estate transactions in the emirate hit AED1.7 billion in March 2023, Sharjah’s real estate market continues to flourish.
This demonstrates the ongoing development and prosperity of Sharjah’s real estate market as well as its achievement in creating and maintaining a business- and investment-friendly environment.
According to the “Mortgage Movement Report” published by the Sharjah Real Estate Registration Department (SRERD), 3,386 transactions were reported in various parts of the emirate during the course of the previous month, with a total traded area of more than 5.1 million square feet.
The findings demonstrate the vital role that the real estate industry plays in the emirate’s economy and attest to Sharjah’s success in luring local, Arab, and international investors over the years thanks to its prime location, social security, economic stability, sound infrastructure, and distinctive competitive advantages.
According to figures from the Sharjah Real Estate Registration Department, there were 3,386 transactions overall in March. With a total value of AED 838.6 million, there were 319 mortgage transactions, or 9.4 percent of all transactions, and 595 selling transactions, accounting for 17.6 percent of all transactions. 2,472 other transactions were made, accounting for 73% of all transactions.
The 88 various districts and areas of the emirate all participated in the sale transactions. Residential, commercial, industrial, and agricultural lands were all included in these holdings.
Regarding the real estate transactions itself, 157 lands were traded, while 207 built-land sales took place. There were 231 towering units sold.
According to the survey, Sharjah’s Muwailih commercial area had 116 sales transactions, which put it at the top of the list of sales traffic locations.
Al-Rigaibah area came in second with 38 transactions, followed by Mazairah and Al-Khan neighborhoods with 68 transactions apiece.
The al-Sajaa Industrial area came in second with a volume of AED75.2 million, followed by the Al-Khan area with a turnover of AED69.8 million, and the Al-Nahda area with a volume of AED52.4 million. Muwailih Commercial Area came in first with a turnover of AED140.8 million.
With three transactions, the Al-Qasimia area saw the majority of the central region’s transactions, whereas Blida region saw the greatest volume of cash trading with a volume of AED6.4 million.
While in Khorfakkan, the Al-Mudaifi area had the biggest amount of transactions, totaling AED3.7 million, the East area had the most number of transactions with three.
In the Kalba region, the industrial zones of Kalba and Al-Khuwair each saw three sales, while Al-Baraha had the greatest selling volume, reaching AED3 million.