The Sharjah Real Estate Registration Department's semi-annual report on the real estate sector in Sharjah's cities has disclosed that the value of real estate transactions in the Central and Eastern regions reached AED 646 million in the first half of 2024, marking a 17.7 percent increase from the previous year. The report also indicated that the total number of transactions across the department's branches was 14,395, with a total traded area of 21.7 million square feet.
Omar Al-Mansouri, Director of the Branches Department at the Sharjah Real Estate Registration Department, highlighted that the real estate market in these regions has set new records in the first half of the year. He emphasized that the continuous support and development efforts by the Sharjah Government, particularly in infrastructure and legislation, significantly contribute to the growth of the emirate's real estate sector.
Al-Mansouri further noted that numerous real estate and development projects, especially in tourism, have been initiated in these regions, attracting investors both locally and internationally. This has led to a visible growth and prosperity in the sector, as reflected in the report's findings. He detailed that the trading value in the four branches accounted for 3.5 percent of the total sector value, with the Central Region recording AED 284.2 million, KhorFakkan AED 179.6 million, Kalba AED 170.7 million, and Dibba Al-Hisn AED 11.5 million.
Additionally, the report revealed that the department's branches handled 246 mortgage transactions worth AED 279.7 million. Sales transactions in the Central Region totaled 281 with a value of AED 232.7 million, predominantly in Al-Qasimia city. KhorFakkan saw 137 transactions worth AED 83.2 million, while Kalba had 63 transactions totaling AED 42.7 million. Dibba Al-Hisn recorded 13 transactions valued at AED 9.5 million, mostly in the Al-Shamali district.
