Sharjah, UAE — Sharjah witnessed real estate deals worth AED 3.1 billion ($844 million) in February 2023, according to the Real Estate Transactions and Mortgages Movement report issued by the Sharjah Real Estate Registration Department.
The report said the results indicate that the real estate sector in Sharjah continues to significantly grow and prosper, while the development projects in the emirate have been attracting a wide number of local, Arab, and international funds and investments, which resulted in high returns for investors.
Moreover, the continued support from Sharjah’s Government for this sector have made a huge positive impact. Starting from the series of incentives, the different facilities to investors, entrepreneurs, and real estate developers, it added.
The total number of transactions carried out during February had reached 4,458 transactions. The sales transactions reached 1,048 representing 23.5 percent of the total number of transactions. Mortgage transactions were 355 representing 8 percent of the total with a total value of AED 581.4 million. The remaining transactions amounted to 3,055, which represented 68.5 percent of the total number of transactions.
The sales transactions took place in 101 areas distributed across various cities and regions of Sharjah with a total area of 8.7 million square feet. These properties included residential, commercial, industrial, and agricultural lands. As for the type of traded real estate, 413 lands were traded, 328 units in towers, and 307 of built-in land transactions.
“Muwailih Commercial” area continues to lead the list of areas with the highest number of sales transactions in Sharjah, recording 213 transactions, followed by “Rawdat Al-Qart” with 138, then “Al-Mazairah” and “Al-Khan” areas with 77 transactions each.
In terms of trading volume, “Muwailih Commercial” area also topped the list, with a trading volume of AED 382 million, followed by “Um Fanain” with AED 109.5 million, “Al-Khan” area with AED 84.2 million, and “Al-Sajaa Industrial” area with AED 83.3 million.
In the Central Region, the transactions were mostly concentrated in “Al-Madina Al-Qasimia”, with 8 transactions, while the highest area in terms of trading volume was “Blida” which recorded AED 13.4 million.
As for the city of Khor Fakkan, “Al-Bardi 4” area topped the list with 11 transactions, which also ranked the highest numbers in terms of trading volume in the city, reaching AED 6.9 million.
Finally, and in the city of Kalba, “Sur Kalba Commercial” area was the highest, with 4 transactions, while the “Al-Saaf 7” area was the highest area with a trading volume of AED 1.5 million.
