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Sharjah real estate: Transactions reach $844 million in March 2024

The Muwailih Commercial area in Sharjah had the highest number of sales transactions with 156, followed by Rawdat Al-Qart with 119 transactions

Sharjah real estate: Transactions reach $844 million in March 2024

In March 2024, the Emirate of Sharjah saw a total of 2,606 real estate transactions amounting to $844 million (AED 3.1 billion). These transactions covered an area of 8.1 million square feet, revealed the Sharjah Real Estate Registration Department.

The report further revealed that out of a total of 2,606 transactions, 837 were sales transactions making up 32.1%. Additionally, there were 333 mortgage transactions totalling AED 1.1 million, making up 12.8% of the total. The remaining transactions, 1,436 in total, represented 55.1% of all transactions.

The sales transactions took place in 97 areas distributed across various cities and regions of Sharjah, including 350 vacant lands, 240 sub-divided towers, and 247 of built-in land. These properties included residential, commercial, industrial, and agricultural lands.

The Muwailih Commercial area in Sharjah had the highest number of sales transactions with 156, followed by Rawdat Al-Qart with 119 transactions. Al-Khan and Tilal had 62 and 49 transactions, respectively.

In the Eastern region, there were a total of 29 sales transactions recorded by the department. The city of Khor Fakkan had the highest number of sales transactions with 15, followed by Kalba with 11 transactions, and Dibba Al-Hisn with 3 transactions.

The most active areas in terms of cash trading volume in Sharjah were Muwailih Commercial, Al-Khan, Al-Saja’a Industrial, and Tilal. Muwailih Commercial had the highest trading value at AED 183.2 million, followed by Al-Khan at AED 129.7 million. In the Central Region, the total number of sales transactions was 34, with Al-Madina Al-Qasimia recording the highest number of transactions at 14 and cash trading volume at AED 10.9 million.

The real estate sector in Sharjah is riding the growth momentum observed across the UAE. Various policy changes and new project launches over the last three years have helped the real estate market to reinvent itself as an affordable yet good quality and integrated real estate market. Moreover, with areas like Muwailah Commercial and Al-Khan leading the way, Sharjah’s real estate sector is set to benefit further, attracting investors from more diverse backgrounds and offering opportunities for sustainable growth in the years to come.