Press Dossier   News Category    Real Estate    Sharjah records Dh2b real estate sales in January

Khaleej Times, Thursday, Feb 09, 2023 | Rajab 18, 1444

‏Sharjah records Dh2b real estate sales in January

Emirates: Sharjah on Wednesday announced that the emirate consolidates its position as an attractive destination for property investors as it executed 2,999 real estate transactions worth Dh2 billion in January.

The Sharjah Real Estate Registration Department (SRERD), which recorded 15.3 per cent year-on-year growth in real estate transactions to 7,267 worth Dh24 billion last year, continued its momentum in 2023 with promising Dh2 billion sales in first month of the year.

The department’s statistics showed that the number of sale transactions reached 673 which accounted for 22.5 per cent of the total number of transactions. The mortgage transactions amounted to 250, which represented 8.3 per cent of the total transactions, with a total value of Dh510 million.

In addition, the other transactions amounted to 2,076 transactions and were considered as 69.2 per cent of the total transactions, according to the SRERD statement.

Sales transactions areas

The sales transactions took place in 93 areas across the various cities and regions of Sharjah, while the total area of traded real estate reached 4.3 million square feet including residential, commercial, industrial, and agricultural lands.

Regarding the type of traded real estate, it included 162 lands, while built-land sales amounted to 245 transactions. In addition, the number of units sold in towers transactions reached 266 out of the total transactions.

Areas in demand

The latest data showed that Muwaileh Commercial topped the list of areas with the highest number of real estate sales deals with 136 transactions followed by Al Rigaibah (84), Al Khan (60) and Hoshi (49).

As for the highest traded areas in the matter of monetary value, Al Khan topped the list with a turnover of Dh266.2 million followed by Al Rigaibah and Muwaileh commercial areas with Dh106.4 million trading value each. Al Sajaa industrial area recorded sales worth Dh69.6 million in January.

In the central region, the sales transactions were concentrated in Al Thumama with six transactions, and Al Qasimia area with five transactions. In terms of trading value, Al-Thumama region transactions value amounted to Dh7.9 million, followed by A-l Taybeh 1 area with a volume of Dh2.6 million.

While in Khorfakkan, Al Mudaifi was the highest trading area with seven transactions amounted to Dh5.7 million.

As for the city of Kalba, Kalba industrial area took the lead with six sales transactions, while Suhaila 31 area was the highest area in terms of trading volume, with a value of Dh1.6 million.

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