Real estate transactions worth AED5.7 billion ($1.55 billion) were recorded in Sharjah during the third quarter of 2021, an increase of 22.7 percent compared to the same period last year.
A report by the Sharjah Real Estate Registration Department said the rise in the number of transactions indicated a retreat of the slump caused by the Covid-19 pandemic.
A total of 1,662 sales transactions were recorded during Q3 2021, showing an increase of 52.5 percent compared to the same period last year.
Most of these transactions (1,542) took place in Sharjah and their total worth amounted to AED2.2 billion.
The department said that 64 percent of sales transactions were confined to five areas: Al Khan, Muwailih Commercial, Al Rigaibah, Al Saja’a Industrial and Hoshi. The remaining 36 percent of sales transactions were distributed over 88 districts.
About 76 percent (1,262) of the sales transactions were made in the residential sector, followed by the industrial sector (206), commercial (152), and agricultural (42).
During Q3 2021, investors of 50 nationalities invested in Sharjah. The investments of GCC citizens, including Emiratis, amounted to about AED4.5 billion, with 4,874 properties.
Citizens of other countries, including the Arab countries, amounted to AED1.2 billion for 1,042 properties.