Sharjah's Real Estate Transactions Reach AED 646 Million In First Half Of 2024

The Sharjah Real Estate Registration Department's semi-annual report revealed that real estate transactions in Sharjah's Central and Eastern regions reached AED 646 million in the first half of 2024. This marks a 17.7 percent increase compared to last year. The department recorded 14,395 real estate transactions, with sales covering 21.7 million square feet.

Omar Al-Mansouri, Director of the Branches Department at Sharjah Real Estate Registration Department, highlighted the record levels achieved by real estate in these regions during this period. He attributed this success to the Sharjah Government's continuous support for infrastructure and legislative development, which positively impacts the emirate's real estate sector.

Al-Mansouri noted that numerous real estate and development projects, particularly in tourism, have been launched in these areas. These initiatives have attracted both local and international investors, contributing to the sector's growth and prosperity as reflected in the report.

The trading value across the four branches constituted 3.5 percent of the total real estate sector's trading value. The Central Region saw a trading value of AED 284.2 million, representing 1.7 percent of the total. KhorFakkan recorded AED 179.6 million (0.9 percent), Kalba had AED 170.7 million (0.8 percent), and Dibba Al-Hisn reported AED 11.5 million (0.1 percent).

Additionally, Al-Mansouri mentioned that the department's branches completed 246 mortgage transactions worth AED 279.7 million during this period.

Sales Transactions Analysis

The Central region witnessed 281 sales transactions across 36 areas, totalling AED 232.7 million. "Al-Qasimia" city led with 142 transactions (50.5 percent), followed by "Al-Maashi" with 20 transactions, and "Al-Faw Agricultural" with 14 transactions.

KhorFakkan had 137 transactions in 22 areas amounting to AED 83.2 million. "Al-Bardi 4" area accounted for 23 transactions (16.8 percent), followed by "Al-Harai Industrial" with 22 transactions, and "Hayawa 4" with 18 transactions.

In Kalba city, there were 63 transactions across 22 areas totalling AED 42.7 million. "Al-Taraif 5" led with 12 transactions (19 percent), followed by Sur Kalba Commercial area with 11 transactions, then Kalba Industrial and "Al-Bardi" areas each with six transactions.

Dibba Al-Hisn Transactions

Dibba Al-Hisn recorded sales across three areas with a total of thirteen transactions worth AED nine point five million dirhams (AED). "Al-Shamali" district accounted for nine of these transactions, making up sixty-nine point two percent of the total sales in this region.

The report underscores Sharjah’s robust real estate market performance driven by strategic government support and investor interest.

With inputs from WAM