Sharjah Real Estate Registration Department recently issued a monthly report in which it revealed that July 2023 saw real estate transactions in Sharjah reach a valuation of DH1.9 billion.
2,783 transactions in total were executed by the department, which included 684 sales transactions that were spread across 96 areas.
These included various areas of the emirate and the total traded area was about 6 million square feet.
Key economy driver
The Sharjah government’s strategy is to be credited with the development and growth that has taken place in the Sharjah real estate market over the years.
According to a statement, the government made efforts for diversifying income and this has made it an important part of the economy in the emirate.
Furthermore, it is also expected that in the next few months, there will be more growth in the real estate market in Sharjah.
This is primarily due to the numerous investment opportunities that the emirate has to offer, particularly with more new projects being introduced.
The highest international standards are followed for planning and implementation of these real estate projects.
The numbers
According to the statistics shared by the department, 2,783 was the total number of real estate transactions in the month of July this year.
Out of the total, 24.6% of them were sales transactions, which means they were around 684. 16.1% of the transactions were mortgage ones, which means they were around 447.
The total value of these mortgage transactions was around Dh420.1 million. 59.3% of the total were other transactions and their number was around 1,652.
The sales transactions were spread across different regions and cities of Sharjah and covered a total of 96 areas.
As far as the type of areas are concerned, the total number of land transactions was around 180. The properties that were sold included industrial, residential, agricultural and commercial lands.
The report
As per the report, the area that saw the highest number of sales transactions occur in the emirate was Mezair’ah, as a total of 132 transactions took place.
With 102 transactions, the next area was Muwaileh Commercial and 78 transactions took place in the Al-Khan area. It was followed by 36 transactions in the Al-Majaz area.
As far as monetary value is concerned, the highest value of transactions was recorded in Muwaileh Commercial, as they were around Dh82.8 million.
With a total value of Dh57.8 million, the Al-Sajaa Industrial area came next, transactions worth Dh42.8 million took place in Al-Rigaibah area and transactions worth Dh38.6 million took place in Al-Khan area.
Al-Blida and Al-Qasimia were the central regions where the transactions took place, with eight transactions in both.
But, it was Al-Blida that had the highest value of transactions in terms of monetary value, which were around Dh15.5 million.
There were three transactions recorded each in the Al-Haray Residential, Al-Haray Industrial and the KhorFakkan areas, while transactions of the highest monetary value were recorded in Al-Mudaifi and they were around Dh1.4 million.
