EVERYTHING SHARJAH: The Sharjah Real Estate Registration Department issued its report on the “Real Estate Trading Movement” for the month of August 2024.
According to this report, it was revealed that the volume of real estate transactions in the various regions and cities of the emirate had amounted to AED 2.8 billion, with a total number of 3,055 transactions covering 7 million square feet of land.
“The Sharjah Real Estate Registration Department has issued its report on real estate trading for August 2024. According to the report, real estate transactions across the emirate amounted to AED2.8 billion, with 3,055 transactions covering seven million square feet of land. “
Profitable Returns
These results confirm that the real estate environment in Sharjah, under the directives of the wise leadership, continues to be a growing momentum with effective activity, making it a safe and fruitful haven for capital owners and elite investors looking for the optimal real estate products that achieve profitable returns on the short and long terms.
This sector also provides various options for buying and selling and meets the need for a property that enhances a dignified and integrated lifestyle and fulfills the requirements of economic well-being.
“In detail, the statistics show that a total of 3,055 transactions were carried out during the period. Sales transactions accounted for 1,054, representing 34.5 percent of the total, while mortgage transactions reached 342, representing 11.2 percent of the total, with a value of AED677 million. Other transactions totalled 1,659, representing 54.3 percent of the total number of transactions.”
In detail, the statistics showed that the total number of transactions carried out during that period had reached 3,055. The number of sales transactions was 1,054, which represented 34.5% of the total number of transactions, while the number of mortgage transactions reached 342, representing 11.2% of the total transactions, and with a total value of AED 677 million. As for the remaining transactions for other dispositions, they reached 1,659, representing 54.3% of the total number of transactions.
Sales Transactions In 105 Areas
The sales transactions took place in 105 areas distributed across the various cities and regions of the Emirate of Sharjah. These properties included residential, commercial, industrial, and agricultural lands.
As for the type of property traded, there were 403 vacant lands, 242 built-in lands, and 409 transactions of sub-divided towers.
271 sales transactions in ‘Muwailih Commercial’. The total sales transactions in Sharjah city amounted to 948, and the ‘Muwailih Commercial’ area continued to lead the list of areas with the highest number of sales transactions, recording 271 transactions, followed by the ‘Tilal’ area with 86, ‘Al-Khan’ area with 83, and ‘Rawdat Al-Qart’ with 77 transactions.
As for the areas with the highest cash trading volume, ‘Muwailih Commercial’ area also topped the list, with a trading volume of AED 238.5 million, followed by ‘Tilal’ area with AED 136.7 million, ‘Al-Mamzar’ area with AED 89.9 million, and ‘Al-Sajaa Industrial’ area with AED 89.3 million.
In the central region, the total sales transactions amounted to 78, most of which were concentrated in ‘Al-Qasimia City’ with 52 transactions, which also recorded the highest cash trading volume, amounted to AED 30 million.
As for ‘Khorfakkan’ city, 12 sales transactions took place, with ‘Al-Harai Industrial District’ and ‘Al-Harai Commercial District’ topping the list with 3 transactions each. “Al-Gharb District” recorded the highest cash trading volume, with AED 1.6 million.
Finally, in Kalba city, there were 16 sales transactions, with 3 transactions each for “Kalba Commercial” and “Al-Sur 4”, while the “Al-Sur 1” area was the highest area in terms of cash trading volume, with AED 4.1 million.
