Sharjah real estate transactions’ value hits Dhs1.4bn in July: SRERD

Sharjah Real Estate Registration Department (SRERD) has reported that total transactions carried out in July amounted to 2,417 transactions across 71 different areas distributed over Sharjah.

Of the total number, 588 were sales transactions, 338 were mortgage transactions, and 1,491 were classified as other miscellaneous transactions.

The department’s monthly report showed percentages of real estate transactions, with sales transactions recorded at 24.3 per cent, while mortgage and other miscellaneous transactions hit 14 per cent and 61.7 per cent, respectively, according to the state news agency, WAM.

Abdulaziz Rashid Al Saleh, director of the Sharjah Real Estate Registration Department, said, “Total trading volume in July 2022 amounted to Dhs1.4bn; the number of mortgage transactions reached 338 in total, valued at Dhs487m, solidifying that the department is working consistently on its vision to increase investments in Sharjah. We hope to continue contributing to quality real estate provisions in Sharjah, and are working hard to enhance attracting investment to this sector, to ultimately push the wheel of economic growth to cover wider surrounding areas.”

Report highlights
The department’s statistics indicated that the Muwaileh Commercial area reported the highest number of sales transactions in Sharjah, amounting to 266 transactions in total. In terms of the areas showing the highest trading volumes per city, the report ranked Muwaileh Commercial as the highest in Sharjah, Al Bardi 2 as the highest in Khorfakkan, Blida in the central region, and Al Baraha in Kalba city.

The report revealed that the total number of sales transactions executed, categorised by type of property, was 588 sales in total. Among these, vacant lands within Sharjah showed 145 transactions, while 126 transactions took place on built-up land. Additionally, 317 transactions were related to detached towers.

The total traded area amounted to 2.8 million square feet and included residential, commercial, industrial, and agricultural land.

The top four investment areas in Sharjah were: Muwailih Commercial, Al Khan, Al Sajaa Industrial, and Hoshi. In Khorfakkan, the top areas cited for investment purposes were: Al Zubarah Industrial, Al Bardi 2, Al Harrai industrial area, and Al Zubarah.

In the central region, trades focused on the city of Qasimia, Al Balida, Khedira 2, and Al-Taybeh 2 area, while in Kalba city, Industrial, Al Baraha, Sur Kalba commercial, and Al Bardi took the lead.