SHARJAH, UAE – A total of 3,798 transactions were conducted here in October 2023 across various regions of the emirate, amounting to US$980 million (AED3.6 billion) in trade value and involving 8.2 million square feet, the Sharjah Real Estate Registration Department said in a report.
This surge reflects a substantial increase compared to September’s real estate activity, where the trade volume reached US$544 million (AED2 billion) through 2,519 transactions.
The report underscored the confidence of clients in the emirate’s real estate sector, its capacity to attract investors and amplify their investments and the ongoing urban renaissance in Sharjah.
Additionally, the October real estate growth underscores the compelling investment incentives, diverse options and financing facilities offered by the emirate to individuals and investors.
As per the report, the total number of transactions reached 3,798, with 903 sales transactions constituting 23.8 percent of the total.
Mortgage transactions accounted for 356, representing 9.4 percent of the total, while the remaining transactions totaled 2,539, making up 66.8 percent of the overall transactions.
Sales transactions spanned 100 areas across various regions, encompassing residential, commercial, industrial, and agricultural real estate.
Among these, 279 land transactions occurred, with 289 involving built-in land, and 335 transactions for sub-divided towers.
In terms of sales transactions, the Muwailih Commercial area led with 207 transactions, followed by Al-Khan with 91, Al-Mazairah with 84, and Tilal with 70 transactions.
In the monetary trading volume category, Muwailih Commercial again took the lead, registering US$66 million (AED233.6 million), followed by Falah with US$36 million (AED133.4 million), Tilal with US$18 million (AED67 million) and Al-Khan with a trading volume of US$17 million (AED63.9 million).