Sharjah Sees AED2.8 Billion In Real Estate Transactions For August 2024

The Sharjah Real Estate Registration Department has released its August 2024 report on real estate trading. The report reveals that real estate transactions in the emirate reached AED2.8 billion, covering seven million square feet of land through 3,055 transactions. This indicates a robust and growing real estate market in Sharjah, attracting capital owners and elite investors seeking profitable returns.

In August 2024, Sharjah saw a total of 3,055 real estate transactions. Sales transactions made up 1,054 of these, which is 34.5 percent of the total. Mortgage transactions accounted for 342 or 11.2 percent, valued at AED677 million. Other types of transactions amounted to 1,659, representing 54.3 percent of the total.

Sales activities spanned across 105 areas in various cities and regions within Sharjah. These included residential, commercial, industrial, and agricultural lands. Specifically, there were trades involving 403 vacant lands, 242 built-in lands, and 409 sub-divided towers.

In Sharjah city alone, there were 948 sales transactions. The Muwailih Commercial area led with 271 transactions, followed by Tilal with 86, Al-Khan with 83, and Rawdat Al-Qart with 77 transactions.

Regarding cash trading volumes in Sharjah city, Muwailih Commercial topped the list with AED238.5 million. Tilal followed with AED136.7 million, Al-Mamzar with AED89.9 million, and Al-Sajaa Industrial with AED89.3 million.

Central Region Transactions

The central region recorded a total of 78 sales transactions in August. Al-Qasimia City was notable for having the highest number of these transactions at 52 and also recorded the highest cash trading volume at AED30 million.

Khorfakkan and Kalba Transactions

Khorfakkan saw a total of 12 sales transactions during this period. The Al-Harai Industrial District and Al-Harai Commercial District each had three transactions. The highest cash trading volume was recorded in Al-Gharb District at AED1.6 million.

Kalba experienced a total of 16 sales transactions in August. Both Kalba Commercial and Al-Sur areas each accounted for three transactions apiece. The highest cash trading volume was noted in Al-Sur 1 at AED4.1 million.

The detailed statistics from this report confirm that Sharjah's real estate market remains a safe haven for investors seeking both short-term and long-term gains through optimal real estate products.

With inputs from WAM