Sharjah records Dhs2.2b realty deals in February

The Sharjah real estate market has been a hive of activity during February 2023, with a total Dhs2.2 billion worth of transactions, which reflects the continued growth and prosperity of the real estate sector in the emirate, and its success in attracting investors from around the world.

The “Mortgage Movement Report” issued by Sharjah Real Estate Registration Department revealed that 2,207 transactions were recorded in various regions of the emirate during the past month, while the total traded areas in Sharjah reached 10.3 million square feet during the above-mentioned period.

The number of sales transactions amounted to 640 transactions, or 29 per cent of the total number of transactions, and the number of mortgage transactions reached 295 transactions, which is 13.4 per cent of the total transactions, with a total value of Dhs 385 million. While the remaining transactions of amounted to 1,272 transactions, which is 57.6 per cent of the total transactions.

The sale transactions took place in 94 areas distributed over the various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands.

Regarding the type of real estate transactions, 191 lands were traded, while the built-land sales amounted to 193 transactions. Units sold in towers accounted for 256 transactions out of the total transactions.

The report also showed that Muwailih commercial area topped the list of areas with the highest number of sales transactions in Sharjah with a total of 158 transactions, followed by Al Khan area with 62 transactions, Al-Muzayri’a area with 42 transactions, and then Al-Tarfa area with 38 transactions.

Muwailih commercial area topped the highest sales value list with a turnover of Dhs415 million, followed by Al Qarayen 3 with a volume of Dhs286 million, Al Nahda with a turnover of Dhs118 million, then Al Sajaa Industrial area with Dhs77 million.

As for the transactions executed in the central region of Sharjah, they were concentrated in Al Qasimia area with 16 transactions, with a trading volume of Dhs6.6 million.

While in Khorfakkan, Al Mudaifi was the highest trading area with 3 transactions, while the Hatin region recorded the highest volume of transactions with a total of Dhs4.8 million.

In Kalba, Al-Saaf region witnessed two sale transactions, while Al-Musalla region recorded the highest volume of transactions amounted to Dhs 2.4 million.

In January, Sharjah recorded 2,999 real estate transactions worth Dhs2 billion during January 2023, according to  Sharjah Real Estate Registration Department (SRERD).

The department’s statistics showed that the number of sale transactions reached 673 in January, which accounted for 22.5 per cent of the total number of transactions. Regarding mortgages, 250 transactions represented 8.3 percent of the total transactions with a total value of Dhs510 million. In addition, there were 2,076 other transactions that constituted 69.2 per cent of the total transactions.

The sales took place in 93 areas across the various cities and regions of Sharjah, while the total area of traded real estate reached 4.3 million square feet, including residential, commercial, industrial, and agricultural lands.

The types of traded real estate included 162 lands, and 245 lands with constructions. In addition, the number of units sold in towers reached 266.

The report showed that Muwaileh Commercial topped the list of areas with the highest number of real estate sales with 136 transactions, followed by Al Rigaibah with 84, Al Khan with 60, then Hoshi area with 49.

As for the highest traded areas in terms of monetary value, Al Khan topped the list with a turnover of Dhs266.2 million, followed by Al Rigaibah and Muwaileh commercial areas, both with the same total trading value of Dhs106.4 million, followed by Al Sajaa industrial area with Dhs69.6 million.

In the central region, the sales transactions were concentrated in Al Thumama with six transactions, and Al Qasimia area with five. In terms of trading value, Al-Thumama region transactions value amounted to Dhs7.9 million, followed by A-l Taybeh 1 area valued at Dhs2.6 million.

While in Khorfakkan, Al Mudaifi was the highest trading area with seven transactions amounting to Dhs5.7 million.

As for the city of Kalba, Kalba industrial area took the lead with six sales transactions, while Suhaila 31 area recorded Dhs1.6 million worth transactions, the highest in terms of trading volume.