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Sharjah real estate transactions report: $849 million trading volume in February 2024

In February, a total of 4,458 transactions were recorded, with sales transactions making up 23.5% of the total at 1,048 transactions

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The Real Estate Transactions and Mortgages Movement report from the Sharjah Real Estate Registration Department revealed that there was a trading volume of $849 million (AED 3.1 billion) in February 2024, consisting of 4,458 real estate transactions. These transactions took place across different regions and cities, indicating a busy real estate market during that month.

These results indicate that the real estate sector in Sharjah continues to significantly grow and prosper, while the development projects in the emirate have been attracting a wide number of local, Arab, and international funds and investments, which resulted in high returns for investors.

The support from Sharjah’s Government has had a positive impact on the real estate sector. Incentives and facilities provided to investors, entrepreneurs, and developers have played a key role in driving growth in the industry.

In February, a total of 4,458 transactions were carried out. Sales transactions accounted for 1,048 of these, making up 23.5% of the total. There were 355 mortgage transactions, representing 8% of the total, with a value of $158.69 million (AED 581.4 million). The majority of transactions, 3,055 in total, made up 68.5% of the total transactions.

In Sharjah, sales transactions were conducted in 101 different areas spanning across the city and its regions, covering a total area of 8.7 million square feet. The properties involved in these transactions varied from residential and commercial lands to industrial and agricultural lands. A total of 413 lands, 328 units in towers, and 307 built-in land transactions were recorded as part of the real estate trades in the area.

In Sharjah, “Muwailih Commercial” remains the top area for sales transactions with 213 recorded transactions. Following closely behind is “Rawdat Al-Qart” with 138 transactions, and both “Al-Mazairah” and “Al-Khan” areas with 77 transactions each. These areas are consistently popular among buyers in Sharjah, showcasing continued demand in the real estate market.

In terms of trading volume, the “Muwailih Commercial” area also topped the list, with a trading volume of $104.63 million (AED 382 million), followed by “Um Fanain” with $29.84 million (AED 109.5 million), “Al-Khan” area with $22.98 million (AED 84.2 million), and “Al-Sajaa Industrial” area with $22.73 million (AED 83.3 million).

In the Central Region, the transactions were mostly concentrated in “Al-Madina Al-Qasimia”, with 8 transactions, while the highest area in terms of trading volume was “Blida” which recorded $3.66 million (AED 13.4 million).

As for the city of Khor Fakkan, the “Al-Bardi 4” area topped the list with 11 transactions, which also ranked the highest numbers in terms of trading volume in the city, reaching $1.88 million (AED 6.9 million).

Finally, in the city of Kalba, the “Sur Kalba Commercial” area was the highest, with 4 transactions, while the “Al-Saaf 7” area was the highest area with a trading volume of $408,750 (AED 1.5 million).