The department executed 2,999 transactions including 673 sale transactions

Sharjah records AED 2 billion worth of real estate transactions in January

Sharjah 08/02/2023:According to the monthly report published by Sharjah Real Estate Registration Department (SRERD), the Emirate has recorded AED 2 billion worth of real estate transactions during January 2023. While the total number of transactions executed by (SRERD) during the past month amounted to 2,999 transactions.

The Real estate sector in Sharjah continue to grow and prosper under the continuous support of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and the follow-up of His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and Chairman of Sharjah Executive Council (SEC), and their continuous supporting directives to facilitate the work of real estate developers, and to consolidate Sharjah’s position as an attractive environment for real estate investors.

Transactions Classification

The department’s statistics showed that the total number of transactions completed in January reached 2,999 transactions, as the number of sale transactions reached 673 which accounted for 22.5% of the total number of transactions. As for the number of mortgage transactions, it amounted to 250 which represented 8.3% of the total transactions, with a total value of AED 510 million. In addition, the other transactions amounted to 2,076 transactions and were considered as 69.2% of the total transactions.

Sales Transactions

The sales transactions took place in 93 areas across the various cities and regions of Sharjah, while the total area of traded real estate reached 4.3 million square feet including residential, commercial, industrial, and agricultural lands.

Regarding the type of traded real estate, it included 162 lands, while built-land sales amounted to 245 transactions. In addition, the number of units sold in towers transactions reached 266 out of the total transactions.

Areas with the highest number of real estate sales in Sharjah

The report’s data showed that Muwaileh Commercial topped the list of areas with the highest number of real estate sales deals with 136 transactions, followed by Al Rigaibah with 84 transactions, Al Khan with 60 transactions, then Hoshi area with 49 sales transactions.

As for the highest traded areas in the matter of monetary value, Al Khan topped the list with a turnover of AED 266.2 million, followed by Al Rigaibah and Muwaileh commercial areas both with the same total trading value of AED 106.4 million, then Al Sajaa industrial area with AED 69.6 million.

In the central region, the sales transactions were concentrated in Al Thumama with 6 transactions, and Al Qasimia area with 5 transactions. In terms of trading value, Al-Thumama region transactions value amounted to AED 7.9 million, followed by A-l     Taybeh 1 area with a volume of AED 2.6 million.

While in Khorfakkan, Al Mudaifi was the highest trading area with 7 transactions amounted to AED 5.7 million.

As for the city of Kalba, Kalba industrial area took the lead with 6 sales transactions, while Suhaila 31 area was the highest area in terms of trading volume, with a value of AED 1.6 million.

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