Value of Real Estate Transaction in Sharjah in November was $707.9M

Value of Real Estate Transaction in Sharjah in November was $707.9M

Sharjah Real Estate Registration Department issued the monthly real estate transactions report, which revealed that in November 2023, the volume of real estate transactions had reached AED 2.6 billion.

4,079 was the total number of transactions conducted, while the same period saw the total volume of the area in sales transactions reach 10.6 million square feet.

The report

These results indicate that the Emirate of Sharjah is one of the top destinations for Arab and foreign investors because of the attractive and safe investment environment provided for business.

Furthermore, new projects are also available in Sharjah with numerous facilities and competitive prices and all of these are aimed at meeting the demands of different segments.

The report also included statistics, which revealed that while the total number of transactions has climbed to 4,079, the number of sales transactions stands at 822.

This means that sales transactions make up about 20.2% of the total. Furthermore, the number of mortgage transactions has reached 327, which makes it about 8% of the total.

The value of these mortgage transactions is around AED 434.5 million. As far as the remaining trading transactions are concerned, they were 71.8% of the total at 2,930.

The breakdown

There were a total of 102 areas where the sales transactions took place and they were spread across different regions of Sharjah.

These properties include industrial, commercial, residential and agricultural real estate. As far as the type of real estate is concerned, the total number of lands traded stood at 330.

Out of the total sales transactions, 236 were for sub-divided towers and 256 was the number of built-in land transactions.

According to the report, the area that recorded the highest number of sales transaction was the ‘Muwailih Commercial’ area, as it recorded a total of 130 transactions.

Second on the list was ‘Al-Mazairah’, which recorded a total of 77 transactions, followed by ‘Al-Khan’ and ‘Rawdat Al-Qart’ area, which recorded 50 and 44 transactions, respectively.

Further details

As far as the areas with the highest trading volumes are concerned, it was ‘Muwailih Commercial’ that took the lead here as well, as its trading volume stood at AED 159.2 million.

The next area with the highest trading volume was ‘Al-Sajaa Industrial’ that had a volume of AED 146.2 million.

These were followed by ‘Al-Khan’ and the ‘Al-Majaz 3’ area that had a trading volume of AED 66 million and AED 61.6 million, respectively.

The highest number of transactions and trading volume in the Central region were recorded in ‘Al-Madina Al-Qasimia’ area, with around 35 transactions and trading volume of AED 16.8 million.

As far as the city of Khorfakkan is concerned, a total of six transactions were recorded in the district of ‘Hawaya 4’ and AED 7.1 million was the trading volume recorded.

Lastly, the highest number of transactions recorded in the city of Kalba were in the ‘Sur Kalba Commercial’ area, as it had a total of six transactions.

The highest real estate trading volume was recorded in the ‘Al-Turaif’ area, as it reached AED 1.8 million.

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