Sharjah's Central And Eastern Regions Record AED 332.4 Million In Real Estate Deals For Q1 2024

The Sharjah Real Estate Registration Department recently disclosed impressive figures in its latest report, highlighting a robust cash trading volume of AED332.4 million across its four branches located in Al-Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba. This financial activity was recorded during the first quarter (Q1) of 2024, showcasing a vibrant real estate market within the regions and cities of Sharjah.

According to the report, the total number of transactions executed in these branches reached 6,732, covering an expansive area of 10.1 million square feet. Omar Al-Mansouri, the Director of Branches Department at Sharjah Real Estate Registration Department, provided insights into the continuous development witnessed by the real estate sector in the Central and Eastern regions of Sharjah. He attributed this growth to the government's focused initiatives on launching numerous real estate and development projects, particularly in the tourism sector, which has attracted both local and international investors.

Al-Mansouri further elaborated on the positive outcomes resulting from the Sharjah government's commitment to enhancing infrastructure and updating legislation. These efforts have significantly contributed to the advancement and support of the emirate's real estate sector across its various regions and cities.

The detailed breakdown of cash trading volumes in the report revealed that Al-Dhaid branch led with AED 146.2 million, accounting for 1.5% of total trading volumes. Following closely, the Khor Fakkan branch reported AED 114.8 million in transactions, representing 1.1%. The Kalba branch saw AED 62 million in trades, making up 0.6%, while Dibba Al-Hisn recorded the smallest share with AED 9.3 million or 0.1% of total trading volumes.

In addition to cash transactions, the report highlighted that these branches conducted 143 mortgage transactions valued at AED 130.3 million. This data underscores the dynamic nature of Sharjah's real estate market and its significant contribution to the emirate's economic landscape.

Al-Mansouri's comments reflect a broader optimism regarding the future of real estate in Sharjah, driven by governmental support and strategic development projects. The continuous growth and prosperity of this sector are evident in these latest figures, indicating a promising outlook for investors and stakeholders in Sharjah's real estate market.

With inputs from WAM