Sharjah recorded 4.6 billion dirhams ($1.25 billion) in real estate transactions in August, with activity spanning 120 areas across the emirate, the Sharjah Real Estate Registration Department said on Thursday.
The emirate recorded 9,139 real estate transactions during the month, while the total area traded through sales transactions reached 12.5 million square feet, the department said.
Sales transactions totalled 2,367, including 1,676 in Sharjah City. Muwaileh Commercial led the emirate with 278 sales transactions, followed by Al Sajaa Industrial with 174, Al Menhaz with 172 and Al Khan with 144.
In terms of value, Al Menhaz ranked first with 610.9 million dirhams ($166.4 million), followed by Tilal with 356.8 million dirhams ($97.2 million), Al Waaha with 349.4 million dirhams ($95.1 million) and Al Sajaa Industrial with 332.5 million dirhams ($90.5 million).
Ownership certificate transactions accounted for 4,804, or 52.6% of all transactions, followed by title deed transactions at 2,658, or 29.1%. Initial sales contracts accounted for 978 transactions, or 10.7%.
Mortgage transactions totalled 430, or 4.7% of all transactions, with a combined value of 654.2 million dirhams ($178.2 million), while valuation transactions reached 269, or 2.9%.
The emirate recorded 1,220 land sales transactions, while 589 transactions involved subdivided units and 555 involved built-in land. Two transactions involved under-construction land and one involved agricultural land.
Industrial Area 4 recorded the highest-value real estate deal of the month, involving land worth 55 million dirhams ($15 million). Al Khan recorded the largest mortgage transaction, involving built-in land worth 100 million dirhams ($27.2 million).
In Sharjah’s Central Region, 555 sales transactions were recorded, with Industrial 2 accounting for 180 transactions and the highest trading value at 355 million dirhams ($96.6 million).
Khor Fakkan recorded 91 sales transactions, led by Hay Al Mudeife 1 with 45. The area also recorded the city’s highest trading value at 52.8 million dirhams ($14.4 million).
Kalba recorded 45 sales transactions, led by Al Tareef 5 with 16. The area posted the city’s highest trading value at 11.5 million dirhams ($3.1 million).
The department said the results reflected continued activity in Sharjah’s real estate market, supported by its regulatory and legislative framework and urban development plans.
