A total of 21,615 real estate transactions worth AED 6.3 billion ($1.71 billion) were executed in Sharjah during the first quarter of 2022, said the Sharjah Real Estate Registration Department (SRERD).
Abdul Aziz Ahmed Al Shamsi, the Director-General of SRERD, said the main branch of the SRERD in the city of Sharjah accounted for 97 percent of the total value of these transactions at AED6.1 billion, while the transactions of the Central Region branch amounted to AED69.7 million.
The Khorfakkan city branch recorded transactions worth AED57.5 million, and Kalba city branch witnessed real estate transactions worth AED54.9 million, while the Dibba Al-Hisn city branch made deals worth AED6.5 million.
He said that March witnessed the highest value of transactions with a total of AED2.7 billion, recording an increase by 32.3 percent compared to February, in which the value of trades amounted to AED1.9 billion.
Sector-wise, residential properties topped the list of properties sold in the emirate with 1,225 properties, which represents 72.1 percent of the total properties sold, and witnessed an increase of 17.3 percent compared to the number of residential properties sold in the same period last year.
These residential properties were distributed mainly to vacant lands and built lands, in addition to residential lands under construction, apartments, studios and parking lots.
Commercial lands accounted for a total of 227 properties or 13.4 percent of the total properties sold in the first quarter of 2022, and in turn witnessed an increase of 45.5 percent compared to the same period last year, and were distributed to vacant commercial land and others built and under construction, shops, offices and stores.
A total of 183 vacant and built properties were traded in the industrial sector, representing 10.8 percent of the total real estate, recording an increase of 16.6 percent compared to the same period in 2021.
Total agricultural properties sold came to 62 properties, and a total of 3.7 percent of properties traded, and also recorded a significant increase from the first quarter of last year by 77.1 percent.