Sharjah, March 10, 2024 (WAM): The Real Estate Transactions and Mortgages Movement report, issued by the Sharjah Real Estate Registration Department, states that in February 2024, real estate worth AED 3.1 billion changed hands in 4,458 different places and areas.
Due to the emirate’s development initiatives, a significant amount of foreign, Arab, and local capital has been invested, yielding substantial profits for backers. These findings demonstrate how strongly Sharjah’s real estate industry is still expanding and doing well.
A significant positive influence has also been produced by Sharjah’s government’s ongoing backing of this industry. To begin with, there are several facilities and incentives available to real estate developers, investors, and entrepreneurs.
There have been 4,458 transactions completed in the whole month of February. Sales transactions made up 1,048 (or 23.5%) of the total transactions. AED 581.4 million, or 355 mortgage deals, were completed, accounting for 8% of all transactions.
The sales transactions took place in 101 locations, spanning multiple towns and districts in Sharjah, totaling 8.7 million square feet. Residential, commercial, industrial, and agricultural areas made up these assets. There were 413 lands, 328 tower apartments, and 307 built-in land transactions among the types of real estate that were exchanged.
The neighbourhood known as “Muwailih Commercial” continues to top the list of locations in Sharjah with the most sales transactions, with 213 recorded. “Rawdat Al-Qart” comes in second with 138, followed by “Al-Mazairah” and “Al-Khan” regions, each with 77 transactions.
The “Muwailih Commercial” sector was the highest in terms of trading volume, coming in first with AED 382 million, then “Um Fanain” (109.5 million), “Al-Khan” (84.2 million), and “Al-Sajaa Industrial” (83.3 million).
At eight transactions, “Al-Madina Al-Qasimia” accounted for the majority of the Central Region’s transactions, while “Blida” achieved the biggest trading volume at AED 13.4 million.
With eleven transactions, the “Al-Bardi 4” sector in Khor Fakkan topped the list and had the greatest trading volume in the city, coming in at AED 6.9 million.
Finally, in the city of Kalba, the “Sur Kalba Commercial” region had the highest volume of 4 transactions, while the “Al-Saaf 7” sector had the largest trading volume of AED 1.5 million.
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