AED 1.3 Billion In Real Estate Transactions Recorded In Sharjah's Central And Eastern Regions For 2024

The Sharjah Real Estate Registration Department recently released a report detailing real estate transactions in the emirate's "Central and Eastern" regions. The report highlighted that cash trading volume reached AED 1.3 billion in the first nine months of 2024, marking a 57.6% increase from the previous year. These transactions spanned 37 million square feet across 22,059 deals.

Omar Al Mansouri, Director of Branches Department at the Sharjah Real Estate Registration Department, commented on this growth. He stated, "The real estate sector in the 'Central and Eastern' regions achieved new record levels, thanks to the Sharjah Government's continued care in the development of the infrastructure and legislation, and providing all forms of support to investors, which has contributed significantly to strengthening the real estate sector in all cities and regions of the emirate."

Al Mansouri further explained that numerous real estate and tourism projects have been launched in these areas. These include road projects, hotels, resorts, and advanced infrastructure developments. Such initiatives have made these regions attractive to both local and international investors, leading to noticeable growth in the real estate market.

The department is committed to implementing standards and laws that promote economic growth and support the prosperity of the real estate sector. Al Mansouri noted that transactions from four branches accounted for 4.7% of the emirate's total trading volume.

The "Central region" saw cash trading volumes of AED 810.3 million, representing 2.9% of total trades. In Khorfakkan city, transactions amounted to AED 262.4 million or 0.9%, while Kalba city recorded AED 234.6 million or 0.8%. Dibba Al Hisn city had trades worth AED 15.5 million, making up 0.1% of total branch trading volume.

In terms of sales transactions within the "Central region," there were 577 deals across 41 areas totaling AED 464.9 million. Al Qasimia city led with 346 transactions or 60% of sales, followed by Al Maashi with 24 deals and Maghsa Industrial area with 23.

Khorfakkan and Kalba City Transactions

Khorfakkan city recorded 194 transactions across 23 areas valued at AED 114.6 million. The Hay Al Harai Industrial area had the highest activity with 37 deals or 19.1% of sales, followed by Hay Hayawa 4 with 25 transactions and Hay Al Bardi 4 with 24.

Kalba city saw a total of 118 transactions across 33 areas worth AED 78.9 million. The Al Tarif 5 area led with a rate of 21.2% from its total sales through its completion of25 deals; Sur Kalba commercial area followed with15 trades whileKalba industrial areas completed13 transactions.

Dibba Al Hisn City Sales

In Dibba Al Hisn city, sales were distributed over three areas through sixteen transactions totaling AED12.3 million; notably68.8% occurred within Hay Al Shamali area where eleven deals took place.

This report underscores Sharjah's commitment to enhancing its real estate landscape through strategic developments and investor-friendly policies.

With inputs from WAM