Sharjah's Real Estate Market Achieves AED 4.4 Billion In Transactions For October 2024

The real estate sector in Sharjah experienced a significant surge in October, marking the highest monthly transaction volume for 2024. The Sharjah Real Estate Registration Department reported that transactions reached AED 4.4 billion, covering 14 million square feet across 4,883 deals. Sales transactions made up 29% of these, totalling 1,415.

Mortgage transactions accounted for 9.1% of the total, with a value of AED 1.3 billion from 443 deals. Other types of transactions comprised the remaining 61.9%, amounting to 3,025 deals. Properties traded included residential, commercial, industrial, and agricultural lands across various regions.

Sales were spread over 126 areas in Sharjah's cities and regions. The "Al Mamzar" area recorded the highest land deal at AED 62 million and also led mortgage transactions with a vacant land deal valued at AED 386 million. In terms of property types, there were 693 land transactions, 450 unit sales in towers, and 272 built-in land deals.

The "Muwailih Commercial" area topped both sales numbers and trading volume lists with 257 sales transactions and a trading volume of AED 258.6 million. Following were "Tilal" with AED 161.6 million, "Al Sajaa Industrial" with AED 130.5 million, and "Al Khan" with AED 83.2 million.

In the Central Region, sales reached a total of 226 transactions; "Al Qasimia City" led with 193 deals and was also the top area by trading volume at AED 133.6 million. Meanwhile, "Khorfakkan" saw 23 sales transactions; "Al Harai Industrial District" and "Al Harai Commercial District" each recorded five deals.

"Hay Al Zubara" emerged as the leading area in Khorfakkan by trading volume at AED 2 million. In Kalba city, there were 19 sales transactions; "Sur Kalba Commercial" and "Al Tarif 5" each had three deals while "Al Tarif 1" led in trading volume with AED 4.1 million.

The report highlights Sharjah's diverse real estate market activity across different property types and regions. This growth reflects ongoing demand in residential and commercial sectors throughout the emirate.

With inputs from WAM