March 29, 2020

Sharjah Records AED 24.2 billion Real Estate Transaction

Sharjah: Real estate transactions valued 24.2 billion AED in the Emirate of Sharjah in 2019 increasing by 7.3 in comparison to 2018. 61,357 transactions were recorded in 2019, increasing by 13.4% in comparison to 2018, according to the annual report of the Sharjah Real Estate Registration Department (SRERD).
Diverse Investment Opportunities Abdulaziz Ahmed Al Shamsi, Director General – SRERD stated that the real estate sector in the Emirate keeps developing due to the directives of His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and follow-up of HH Sheikh Sultan bin Mohammed bin Sultan Al Qassimi, Crown Prince of Sharjah and Deputy Ruler of Sharjah and Chairman of the Sharjah Executive Council.

The Sharjah real estate market provides a wide variety of investment opportunities for investors along with financing facilities offered by the banks. The prices of the properties have become affordable for all investors in the market.

Explaining, Al Shamsi stated that 11,535 title deeds transactions, worth 9.6 billion AED, were recorded in all the regions of the Emirate of Sharjah. Other transactions recorded 3,760 mortgage transactions, worth 14.6 billion AED, 963 valuation transactions, and 5,272 initial sales transactions.  Ownership Certificates recorded 36,955 transactions.

Sales transactions by region Up to 3,328 sales transactions were recorded in all parts of the Emirate of Sharjah. “Most of these were recorded in Sharjah city were 2,963 sales transactions, worth 4.8 billion AED, were recorded in 105 different areas.

Most of Sharjah city real estate sales transactions were recorded in Muwaileh Commercial, Al Khan, Al Nahda and Hoshi areas, “However, the highest number of the Sharjah city real estate sales transactions recorded last year was in Muwaileh Commercial Area where 567 dealings, worth 1.2 billion AED, were recorded.” to 117 sales transactions, worth 73.4 million, were recorded in 15 different areas of Khor Fakkan, he stated.

“Most of these were recorded in Al Harai Industrial Area and Al Harai Commercial Area. to 114 sales transactions, worth 103 million AED, were recorded in 39 different areas of the Central Region, he stated. Most of these were in Al Tayba-2 Area and Seeh Al Saddah Area.”

Up to 110 sales transactions, worth 49.3 million AED, were recorded in 21 areas of Kalba city record. “Most of these were in the industrial areas of Kalba and Al-Saf.” Dibba Al-Hisn city recorded 24 sales transactions, worth 18 million AED, in five different areas.

Residential transactions ranked the highest Records show that sales transactions of 3,328 properties, 46.3 million square feet in the area were recorded in the Emirate of Sharjah over the past year.

“However, most of these transactions, exactly 69.4% were of residential properties, followed by 15.9% for commercial transactions, 11.8% for
industrial transactions, and 2.9% for agricultural transactions.”

As for the classification of properties in the Emirate of Sharjah, residential properties ranked the highest in terms of sales transactions, where residential apartments have recorded 1,213 units and lands have recorded 895 properties.

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