The volume of real estate transactions in Sharjah increased by 47 per cent during the first nine months of 2024, compared to the same period last year. The value of these transactions reached Dh28 billion, with a total number of 69,078 transactions, increasing by 16.5 per cent compared to the same period last year.
Sharjah real estate continues to appeal to investors from different nationalities, attracting 114 nationalities during the same period. The investment of UAE citizens amounted to Dh13.7 billion, with 22,908 properties, while the investment of non-Emirati GCC citizens amounted to Dh1.7 billion, with 1,166 properties. With regards to the investment of other Arab citizens, it amounted to Dh5.1 billion, with 4,651 properties, while the investment of citizens of other countries amounted to Dh7.5 billion, with 4,587 properties.
The report, issued by Sharjah Real Estate Registration Department, has showed many positive indicators. The total number of sales transactions, sale of usufruct, and preliminary contracts reached 17,000, compared to 11,000 transactions for the same period last year. As for the value of real estate mortgages, it amounted to Dh7.5 billion, with 3,229 transactions.
Abdul Aziz Ahmed Al-Shamsi, Director General of Sharjah Real Estate Registration Department, said that the emirate’s real estate enjoyed an increase in demand for all transactions, which included an increase in title deeds, real estate property unit subdivision, and sales transactions. In addition, the initial contract transactions increased due to the public’s interest in development project units. Such positive growth results witnessed by Sharjah’s real estate herald further growth in the future of real estate.
Eight new real estate projects were registered during the first nine months of this year, distributed between towers and commercial residential complexes.
A total of 9,216 transactions were recorded in various areas of the emirate, while the total area traded in sales transactions amounted to 88.2 million square feet, spread over 220 traded areas during the first nine months of this year.
Sharjah city accounted for the largest share, with 8,311 transactions in 120 areas, and with a trading volume of Dh10.3 billion, led by Muwailih Commercial as the highest area in terms of the number of sales transactions and trading volume, which amounted to Dh2.2 billion through 1,980 transactions, followed by Rawdat Al-Qart area with 839 transactions, Tilal with 676, and Al-Khan with 615 transactions.
Residential properties accounted for the largest share with 7,657 transactions, and with an increase rate of 83.1 per cent compared to the same period last year. Commercial properties came next, with 758 transactions, and with an increase rate of 8.2 per cent, followed by industrial properties with 653 transactions, an increase rate of 7.1 per cent, then agricultural properties with 148 transactions and an increase rate of 1.6 per cent.