Gulf Today, Staff Reporter

The annual report issued by Sharjah Real Estate Registration Department revealed that the volume of real estate transactions carried out during 2023 in the Central and Eastern Regions of the emirate, amounted to Dhs1.2 billion, compared to Dhs 1 billion during 2022.

These transactions were in 114 regions through the department’s branches in the Central Region and cities of Khor Fakkan, Dibba Al-Hisn, and Kalba, and the total real estate transactions carried out through the department’s branches reached 26,172.

The trading volume in the four branches represented 4.4% of the total trading in the real estate sector in Sharjah during the same period. Transactions in the Central Region branch represented 2% of the total trading volume, and with a value of Dhs 554 million, while Khor Fakkan City branch recorded 1.3%, with a value of Dhs 360 million. Moreover, Kalba City branch recorded 1% of the total trading volume, and with a value of Dhs 265 million, as for Dibba Al-Hisn City branch, it achieved 0.1% of the total trading volume, and with a value of Dhs 21 million.

Positive results and high growth rates. Omar Al-Mansouri, Director of the Branches Department at the Sharjah Real Estate Registration Department, said, “The real estate sector in the Central and Eastern Regions continued its high performance, achieving positive results and high growth rates during the past year, as a result of the implementation of a series of government policies and procedures, in addition to offering many investment options in the real estate market, which contributed to enhancing investor confidence in the real estate market in the two regions”.

In addition, Al-Mansouri stated, “The comprehensive development renaissance witnessed by Sharjah in all its regions and cities has made the emirate an attractive destination for real estate development projects of all uses, as the eastern region hosts two of the latest real estate projects with sea and mountain views on the eastern coast, and the central region also includes the most important industrial real estate projects. The two regions have also become the ideal destination for various individuals and investors. In turn, we work in the Department to invest in resources and create innovative solutions which can help all investors and meet the needs of society. Moreover, by following a series of decisions issued by the wise leadership, we are also keen to set standards and procedures, and implement laws and legislation, which enhance the wheel of economic growth in Sharjah, and contribute to increasing the prosperity of the real estate”.

Al-Mansouri pointed out that real estate transactions, according to branches, were divided into 7,636 transactions carried out in Kalba City branch, followed by Khor Fakkan City Branch with 7,342 transactions, the Central Region Branch with 6,670 transactions, and the Dibba Al-Hisn City Branch with 4,524 transactions.

Meanwhile, Al-Mansouri explained that the number of sales transactions in the Central and Eastern Regions of Sharjah reached 872 transactions, distributed among 114 regions, with a total value of about AED 700 million.

In details, the number of sales transactions in the Central Region reached 434 transactions, and took place in 42 different areas, with a total value of about AED 400 million. “Al-Madina Al-Qasimia” accounted for the largest share of these sales, with 190 transactions, representing 44% of the total sales transactions, followed by “Blida” area with 36 transactions, then “Tawi Hamda” area with 19 transactions.

In the city of Kalba, the number of sales transactions reached 224 across 36 areas, and with a total value amounting to Dhs 145 million. The “Kalba Industrial” and the “Industrial area” recorded 67 sales transactions, representing 30% of the total sales transactions in the city.

As for the number of sales transactions in the city of Khor Fakkan, it reached 193 transactions that took place in 31 areas of the city, and with a value of approximately Dhs 140 million. “Hay Al-Haray Commercial” and “Hay Al-Haray Industrial” took over 23% of these transactions, with 45 transactions of the total sales transactions in the city.

Finally, sales transactions in the city of Dibba Al-Hisn were distributed across 5 areas, with 21 transactions amounting to Dhs 14 million. Most of the sales transactions were concentrated in the “Hay Al-Shamali”, with 13 transactions, representing 62% of the total sales transactions in the city.

Meanwhile, During the next two days (3-4 February), at the Sharjah Research Technology and Innovation Park (SRTIP), the emirate, the nation, and the world, is set to gather for the largest entrepreneurship festival in the region under the captivating theme “Our Shared Canvas.”