SHARJAH, UAE – Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the monthly report published by Sharjah Real Estate Registration Department (SRERD).
The total number of transactions recorded by SRERD during the past month amounted to 2,409, with 747 sales transactions representing 31 percent of total transactions.
Mortgages amounted to 303, which is 12.6 percent of the total transactions, with a value exceeding $193 million (AED 710 million).
In addition, 1,359 other transactions represented 56.4 percent of the total.
Sales transactions took place in 98 areas across Sharjah and the total area of traded real estate reached 6.3 million square feet and included residential, commercial, industrial and agricultural lands.
Types of real estate included 160 plots of land, amounting to 21.4 percent of the total, while built lands amounted to 254 (34 percent), and 333 transactions of subdivided towers accounted for 44.6 percent.
The report’s data showed that Muwaileh Commercial topped the list of areas with the highest number of real estate sales deals with 213 transactions, followed by Al Khan area with 104, Al Rigaibah with 39, then Mazairah with 36 transactions.
As for the highest traded areas in the matter of monetary value Muwailih Commercial also topped the areas of Sharjah City with a total trading value of $51 million (AED 187.4 million), then Al Khan area with $28 million (AED 105.9 million), followed by Al Nahda area with $17 million (AED 63.8 million), then Al Rigaibah with $14 million (AED 54.6 million).
In the central region, sales transactions were concentrated in Al Yafer 2, Al Qasimia City, Al Taybeh 2 and New industrial Area Magdh totaling 15 transactions.
Al Yafer 2 traded worth $1.7 million (AED 6.4 million), then Al Weshah 1 with a value of $1.7 million (AED 1.6 million).
Al Khatm and Al Owaid recorded real estate deals worth $0.272 million (AED 1 million) each.
The commercial areas Al Harrai, Al Bardi 1, Al Harrai Industrial area and Al Lulayyah were the top four areas in terms of the number of transactions in the city of Khorfakkan, totaling 10 transactions.
Al Lulayyah recorded the highest trading volume with a value of $0.653 million (AED 2.4 million), followed by the Al Qadisiyah area with a trading value of $0.544 million (AED 2 million).
Al Yarmouk traded with $0.299 million (AED 1.1 million), while Al Harrai Commercial recorded transactions worth $0.258 million (AED 951,000).
In the city of Kalba, the Kalba Industrial, Al Bardi, and Sur Kalba commercial areas recorded 10 real estate transactions.
The Al Khuwair area acquired the highest trading volume with a value of US$0.599 million (AED 2.2 million).
Al Bardi with a value of $0.382 million (AED 1.4 million), followed by Suhaila 31 area with a value of $0.326 million (AED 1.2 million).
The Al Rigaibah area recorded $0.299 million (AED 1.1 million).