The volume of real estate transactions in Sharjah surged by 47% during the first nine months of 2024, compared to the same period last year. The total value of these transactions hit Dh28 billion, with a total of 69,078 transactions, marking a 16.5% increase over the previous year.
Sharjah's real estate market continues to attract investors from various nationalities, drawing in 114 different nationalities during this period. UAE citizens invested Dh13.7 billion in 22,908 properties, while non-Emirati GCC citizens invested Dh1.7 billion in 1,166 properties. Arab citizens contributed Dh5.1 billion in 4,651 properties, and citizens from other countries invested Dh7.5 billion in 4,587 properties.
A report from the Sharjah Real Estate Registration Department revealed several positive indicators. The total number of sales transactions, usufruct sales, and preliminary contracts reached 17,000, up from 11,000 for the same period last year. The value of real estate mortgages stood at Dh7.5 billion, with 3,229 transactions.
Abdul Aziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department, noted that the emirate's real estate market saw increased demand across all transaction types, including title deeds, property unit subdivisions, and sales transactions. Initial contract transactions also rose due to public interest in development project units. This positive growth in Sharjah's real estate sector is expected to continue in the future.
During the first nine months of this year, eight new real estate projects were registered, comprising towers and commercial residential complexes. A total of 9,216 transactions were recorded across various areas of the emirate, with the total area traded in sales transactions amounting to 88.2 million square feet, spread over 220 traded areas.
Sharjah city dominated with 8,311 transactions in 120 areas, with a trading volume of Dh10.3 billion. Muwailih Commercial led in terms of both the number of sales transactions and trading volume, amounting to Dh2.2 billion through 1,980 transactions, followed by Rawdat Al-Qart, Tilal, and Al-Khan.
Residential properties accounted for the largest share with 7,657 transactions, an 83.1% increase over the previous year. Commercial properties followed with 758 transactions, an 8.2% increase, while industrial properties saw a 7.1% increase with 653 transactions. Agricultural properties had 148 transactions, a 1.6% increase.
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