AED 646 million in transactions in Central and Eastern regions of Sharjah during first half of 2024
SHARJAH, 4th August, 2024 (WAM) — According to the semi-annual report of the real estate sector in the cities of Sharjah issued by Sharjah Real Estate Registration Department, it was revealed that the trading value of real estate transactions has reached AED 646 million during the first half of 2024 in the Central and Eastern regions of Sharjah, with a growth rate of 17.7 percent compared to last year.
The total number of real estate transactions in the branches of the department amounted to 14,395, while the total area traded in sales transactions reached 21.7 million square feet during the same period.
Omar Al-Mansouri, Director of the Branches Department at Sharjah Real Estate Registration Department, said: “The real estate in the Central and Eastern regions achieved new record levels during the first half of this year.” And he stressed that “the interest and support presented by the Sharjah Government for the continuous development of infrastructure and legislation has a positive impact in supporting and developing the real estate in the emirate in all its cities.”
Al-Mansouri also pointed out that, in these two regions, many real estate and development projects were launched, especially in tourism, which resulted in attracting investors from inside and outside the UAE, and was reflected in the growth and prosperity of the sector during the past period, which is evident in the results of this report.
In detail, Al-Mansouri explained that the trading value in the four branches constituted 3.5 percent of the total trading value of the real estate sector. The total trading value in the Central Region amounted to AED 284.2 million, representing 1.7 percent of the total trading value.
In KhorFakkan the trading value amounted to AED 179.6 million, representing 0.9 percent, while in Kalba, it amounted to AED 170.7 million, representing 0.8 percent, and in Dibba Al-Hisn, it amounted to AED 11.5 million, representing 0.1 percent of the total trading value of the branches.
Moreover, and according to the report, Al-Mansouri explained that the department’s branches carried out 246 mortgage transactions, with a total value of AED 279.7 million.
As for the number of sales transactions in the Central region, it reached 281 transactions which took place in 36 different areas, and with a total value of AED 232.7 million. “Al-Qasimia” city ranked the highest in terms of sales transactions with 142 transactions, representing 50.5 percent of the total sales transactions, followed by “Al-Maashi” area with 20 transactions, then “Al-Faw Agricultural” area with 14 transactions.
In KhorFakkan, the number of transactions reached 137 in 22 areas of the city, and with a value of AED 83.2 million. Out of these transactions, 23 were carried out in “Al-Bardi 4” area constituting 16.8 percent of the total sales transactions in the city, followed by “Al-Harai Industrial” area with 22 transactions, then “Hayawa 4” area with 18 transactions.
As for Kalba city, the number of transactions reached 63 in 22 areas, and with a total value of AED 42.7 million, 12 of which were carried out in “Al-Taraif 5” which represented 19 percent of the total sales transactions in the city, followed by the Sur Kalba Commercial area with 11 transactions, then Kalba Industrial and “Al-Bardi” areas with 6 transactions each.
Finally, the sales transactions in Dibba Al-Hisn were distributed across 3 areas with 13 transactions worth AED 9.5 million, and 69.2 percent of these transactions were in “Al-Shamali” district, with nine transactions.