Sharjah's Real Estate Transactions Surge To AED 3.1 Billion In February 2024

The Sharjah Real Estate Registration Department recently disclosed figures in its Real Estate Transactions and Mortgages Movement report for February 2024, showcasing a robust trading volume of AED 3.1 billion across 4,458 real estate transactions. This performance underscores the ongoing growth and prosperity within Sharjah's real estate sector, highlighting the emirate's appeal to a broad spectrum of investors from local, Arab, and international backgrounds. The sector's success is further bolstered by the Sharjah Government's unwavering support, evidenced by a series of incentives and facilities aimed at investors, entrepreneurs, and developers.

The detailed breakdown of February's transactions reveals that sales accounted for 1,048 transactions or 23.5% of the total, while mortgage transactions stood at 355, representing 8% of the overall figure with a combined value of AED 581.4 million. The bulk of the transactions, amounting to 3,055 or 68.5%, comprised other types of real estate dealings. The sales were distributed across 101 areas within Sharjah, covering a total area of 8.7 million square feet and encompassing residential, commercial, industrial, and agricultural properties. Specifically, the transactions included 413 lands, 328 units in towers, and 307 built-in land transactions.

"Muwailih Commercial" emerged as the frontrunner among areas in Sharjah for the highest number of sales transactions, recording 213 deals. It was closely followed by "Rawdat Al-Qart" with 138 transactions and then "Al-Mazairah" and "Al-Khan" areas each with 77 transactions. In terms of trading volume, "Muwailih Commercial" also led with AED 382 million, with "Um Fanain", "Al-Khan", and "Al-Sajaa Industrial" following with AED 109.5 million, AED 84.2 million, and AED 83.3 million respectively.

In the Central Region of Sharjah, "Al-Madina Al-Qasimia" saw the most activity with eight transactions. The highest trading volume in this region was recorded in "Blida", reaching AED 13.4 million. Meanwhile, in Khor Fakkan, "Al-Bardi 4" topped the list with eleven transactions and also led in trading volume at AED 6.9 million.

The city of Kalba saw "Sur Kalba Commercial" area leading with four transactions. The highest trading volume in Kalba was noted in the "Al-Saaf 7" area, amounting to AED 1.5 million.

This comprehensive report from the Sharjah Real Estate Registration Department not only highlights the dynamic nature of Sharjah's real estate market but also underscores the confidence investors place in the emirate's development projects. With continued government support and a diverse range of investment opportunities available, Sharjah's real estate sector is poised for sustained growth.

With inputs from WAM