Sharjah Real Estate Sees AED 3.1 Billion Boom In March 2024 Transactions

The Emirate of Sharjah has witnessed a significant surge in real estate activities, with the Sharjah Real Estate Registration Department reporting a total of 2,606 transactions valued at AED3.1 billion over an area of 8.1 million square feet in March 2024. This bustling activity underscores the emirate's growing appeal as a prime location for real estate investment and development.

The detailed report breaks down the transactions into 837 sales, representing 32.1 percent of the total transactions, and 333 mortgage transactions valued at AED1.1 million, making up 12.8 percent. The remaining 1,436 transactions, which account for 55.1 percent, encompass various other real estate dealings.

These transactions spanned across 97 areas within Sharjah's cities and regions, involving a mix of 350 vacant lands, 240 sub-divided towers, and 247 built-in lands. The properties catered to diverse needs including residential, commercial, industrial, and agricultural purposes.

Muwailih Commercial emerged as the top area in terms of sales transactions within Sharjah city, recording 156 transactions. It was closely followed by Rawdat Al-Qart with 119 transactions, Al-Khan with 62 transactions, and Tilal with 49 transactions. In terms of cash trading volume, Muwailih Commercial also led with a value of AED183.2 million, followed by Al-Khan at AED129.7 million, Al-Saja’a Industrial at AED99.7 million, and Tilal at AED88.9 million.

In the Central Region of Sharjah, Al-Madina Al-Qasimia stood out with 14 sales transactions, marking it as the area with the highest cash trading volume in the city at AED10.9 million.

The Eastern region cities also showed activity with a total of 29 sales transactions; Khor Fakkan led with 15 sales transactions, followed by Kalba with 11, and Dibba Al-Hisn with three sales transactions.

This comprehensive overview of Sharjah's real estate landscape in March 2024 highlights the emirate's dynamic market and its potential for investors and developers alike. With a wide range of properties transacted across various sectors and regions within Sharjah, the report reflects the emirate's robust growth and its appeal as a vibrant real estate hub in the Middle East.

With inputs from WAM