Sharjah, UAE– A total of 2,813 real estate transactions valued at AED 2.7 billion ($735 million) were recorded in Sharjah during November, compared to AED 1.9 billion in October, the Sharjah Real Estate Registration Department (SRERD) said Friday.
Of these, 650 were sale transactions, constituting 23.1 percent, while mortgage transactions increased to 322, comprising 11.4 percent of the total transactions amounting to AED 921 million, with the remaining 1,841 transactions distributed over other real estate transactions, representing 65.5 percent of the total.
The report revealed that real estate market sales covered a total area of 13.3 million square feet, distributed over 99 locations in various cities of Sharjah. Types of real estate traded included residential, commercial, industrial, and agricultural lands.
The transactions of subdivided towers totalled 265 and accounted for 40.8 percent of the total sale transactions. Vacant land transactions reached 194, representing 29.8 percent of the total, while 191 transactions were attributed to the built-up land sector, equating to 29.4 percent.
The report showed that during November, the real estate market focused on the Muwailih Commercial area of Sharjah with 151 transactions, followed by Hoshi and Al Khan areas with 71 transactions each, and then Al Majaz 3 with 48 transactions.
Muwailih Commercial also led the monetary value of real estate transactions with a total of AED 193.9 million, followed by the Al Majaz 3 area with a total of AED 80.1 million.