Sharjah property sector zooms as realty deals surge to Dhs2.7 billion - GulfToday

Sharjah property sector zooms as realty deals surge to Dhs2.7 billion


Picture used for illustrative purpose only.

Gulf Today, Staff Reporter

Real estate transactions in Sharjah during November increased to Dhs 2.7 billion, compared to a monetary value of real estate transactions of Dhs1.9 billion the previous month, according to a report issued by the Sharjah Real Estate Registration Department (SRERD).

The report indicated that 2,813 real estate transactions were carried out during the period, and 650 were sale transactions, constituting 23.1 per cent, while mortgage transactions increased to 322, comprising 11.4 per cent of the total transactions amounting to Dhs 921 million, with the remaining 1,841 transactions distributed over other real estate transactions, representing 65.5 per cent of the total.

 The report revealed that real estate market sales covered a total area of 13.3 million square feet, distributed over 99 locations in various cities of Sharjah. Types of real estate traded included residential, commercial, industrial, and agricultural lands.

The transactions of subdivided towers totalled 265 and accounted for 40.8 per cent of the total sale transactions. Vacant land transactions reached 194, representing 29.8 per cent of the total, while 191 transactions were attributed to the built-up land sector, equating to 29.4 per cent.

The report showed that during November, the real estate market focused on the Muwailih Commercial area of Sharjah with 151 transactions, followed by Hoshi and Al Khan areas with 71 transactions each, and then Al Majaz 3 with 48 transactions.

Muwailih Commercial also led the monetary value of real estate transactions with a total of Dhs 193.9 million, followed by the Al Majaz 3 area with a total of Dhs 80.1 million. The Al Khan area recorded Dhs 73.4 million in transactions, while sales transactions in the station area totalled Dhs 55 million.

 In the central region of the emirate of Sharjah, deals focused on the Al Blelaida region with seven transactions and a trading value of Dh.79.3 million. Al Taiba 1 region recorded five transactions, totalling Dhs 5.6 million, and then the Seh Al Sadah region recorded four transactions with a total value of Dhs 2.8 million.

While most of the deals conducted in Khorfakkan in the Al Mudeife area came with four transactions, with a total trading value of AED 6.9 million, and with the same trading volume, two transactions were recorded in the Al Loleya area.

The Al Saf region in Kalba witnessed the registration of 4 transactions, while the industrial and commercial areas of Sur Kalba recorded two transactions in each region. In terms of the monetary value of real estate transactions, the Al Saf region recorded Dhs 3.5 million, transactions with a value of Dhs 3.2 million, and then the Al Mussalla area with a value of Dhs 2.9 million.

The Sharjah Chamber of Commerce and Industry (SCCI) has discussed ways to upgrade trade and investment cooperation with Pakistan and how to further develop priority economic sectors and open up new horizons for partnerships between the Sharjah and Pakistan business communities.

Meanwhile, Sharjah Entrepreneurship Festival 2022 kicks off this weekend for their 6th edition of the highly anticipated event, as business leaders and entrepreneurial stalwarts from the region and from around the globe start to make their way to Sharjah to share their priceless knowledge, experience and inspiration with all who will be attending.

Hosting over 150 inspirational speakers to lead inspiring conversations and forge authentic connections, SEF 2022 will include 50+ life-changing talks and discussions, and 30 engaging workshops set to empower entrepreneurs from the region.

The festival will feature rich discussions spearheaded by a range of renowned speakers, such as; Mo Gawdat, Author of Solve for Happy; Robert Wolcott, Co-founder and Chairman of The World Innovation Network; Ahmed Al Ghandour, Content Creator; Steven Bartlett, Author and Podcaster; Sayyida Basma Al Said, Founder of Whispers of Serenity Clinic; Ali Abdaal, Youtuber and podcaster; Raja Al Mazrouei, Fintech and Transformation Leader; Nelly Attar, Mountaineer; Khawla Bin Thani, holistic wellness expert; Sultan Sooud Al Qasimi, Founder of Barjeel Art Foundation; Abdulrahman Abumalih, Founder and CEO of Thmanya; Khalid Al Ameri, Emirati Influencer; and regional performances by Sons of Yusuf and Quick Style.

The theme of this year’s extravaganza “Where We Belong”, envisions the ease of finding ones business niche, through five dedicated stages for entrepreneurs to associate their passion with, namely Impact Stage, Creative Stage, Tech Stage, Community Stage, and Wellness Stage which has curated an exciting and diverse range of entrepreneurial content for all those attending. The event will feature a range of talks, activities, workshops from the world’s biggest business leaders to cater to all communities of entrepreneurs, creators and changemakers; along with incredible performances by regional artists.

SEF is organised by the Sharjah Entrepreneurship Center (Sheraa), an institution that incubates and cultivates future changemakers by fostering a culture of experimentation and critical thought. The institution seeks to contribute to the national efforts on raising entrepreneurship communities in the region and creating a strong and globally-connected ecosystem.

Related articles