The report showed that the volume of cash transactions in the Eastern and Central regions of the emirate reached AED 839 million.
The four branches of the Department were used for conducting these transactions, which included the Kalba branch, Dibba Al-Hisn, KhorFakkanand the Central region branch.
The total number of sales transactions stood at 19,658 and the total area that was traded in these transactions was around 20 million square feet.
The Director of Branches Department, Omar Al-Mansouri, said that there was a growth in the real estate sector of the Eastern and Central regions and was drawing both Arab and foreign investors.
He added that this success was due to legislation and advanced infrastructure, along with the economic stability of the emirate.
Furthermore, the strategic location is also one of the appealing factors, which has helped enhancing Sharjah’s position as one of the global destinations for investing in real estate.
In addition, the report also highlighted the competitive advantages that are being offered to investors by the Sharjah government.
This is in line with the economic diversification policy that the government has adopted for building the economy of tomorrow.
Al-Mansourirevealed that the trading volume recorded by the four branches was about 4.4% of the total trading volume recorded by Sharjah’s real estate sector.
The Central region saw its total cash trading volume reach AED 376.3 million, which is around 2% of the total trading volume.
As far as the city of KhorFakkan is concerned, it had a cash trading volume of about AED 274.8 million, which is around 1.4% of the total volume.
In addition, the total cash trading volume of AED 172.3 million was recorded in the city of Kalba, which put its share at 0.9% and the city of Dibba Al-Hisn recorded a cash trading volume of AED 15.6 million.
This was around 0.1% of the total cash trading volume. Al-Mansouri also explained that 423 mortgage transactions were carried out by the Department’s branches and they were valued at AED 365 million.
According to Al-Mansouri, during the same period, the total number of sales transactions in the Central region stood at 300 and they were conducted in 39 different regions.
Their total value stood at AED 260.5 million. The largest share of these transactions occurred in Al-Qasimia City, as a total of 120 transactions were conducted, which is about 40% of the total transactions.
There were 28 transactions in the Blida region, 16 in TawiHamdah region and 15 in the Thumama region.
Furthermore, a total of 132 transactions took place in the city of KhorFakkanand they were spread across 29 areas with their total value reaching AED 98.8 million.
There were 156 transactions in the city of Kalba and they were spread across 32 areas, with their total value reaching AED 80.4 million.