The value of real estate transactions in Sharjah during April this year has increased to AED2.8 billion, compared to AED1.7 billion in March, according to the Real Estate Transactions Movement Report, issued by Sharjah Real Estate Registration Department (SRERD),
“In light of the economic stability that characterises Sharjah, in addition to its prominent strategic location in the middle of the other emirates, this growth continues at an upward pace, making this sector a major attraction for local, Arab and foreign investors and enhancing the emirate’s position and reputation as a leading global destination,” said the report.
This remarkable growth is due to the continued activities of major real estate development companies in the smiling emirate. In addition, it is due to the financial facilities provided to the business sector and the integrated modern lifestyle that the emirate provides to its citizens and residents because of the development of infrastructure and the expansion of the road network and public service facilities. Moreover, the strength and flexibility of legislation and laws help to regulate and stabilising the real estate sector in the implementation of the directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of H.H. Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of Sharjah Executive Council (SEC), and their support and keenness to enhance the growth of this vital sector, considered one of the most contributing sectors to the economy of the emirate and the UAE.
The monthly report issued by the SRERD indicated that 2,614 real estate transactions were conducted by the department in April. The sales transactions constituted 19.3 percent of the total transactions, with 504 transactions, while the mortgage transactions were 585 transactions comprising 22.4 percent of the total transactions and with a total value of AED1.7 billion. The remaining 1,525 transactions were distributed over a group of other real estate transactions, with a percentage of 58.3 percent of the total transactions.
The report also revealed that the real estate market sales covered a total area of 4.6 million square feet, over 62 areas in various regions of the emirate of Sharjah. The types of real estate traded included residential, commercial, industrial, and agricultural land.
The number of transactions for units sold in towers totalled 187 transactions. As for land transactions, the number amounted to 122 transactions, while 195 transactions were attributed to the built-in land.
The report showed that Mezair’ah area ranked the highest in terms of the number of sales transactions in Sharjah due to two projects in the area, with 123 transactions, followed by Muwaileh Commercial with 89 transactions, Al-Khan area with 43 transactions, then “Rodat AlQarat” area with 29 transactions.
As for the most active areas in terms of monetary value, Al-Layah area came first with a trading volume of AED414.7 million, followed by Muwaileh commercial area with a trading value of AED180.9 million, “Mezair’ah area” with a trading volume of AED32.7 million, then Industrial Area 12 with a trading value of AED29 million.
In Sharjah’s central region, sales transactions were focused on Al-Qasimiah area, with ten transactions and a trading value of AED7.9 million.
As for Khor Fakkan, Al-Haray industrial area was the highest area in terms of the number of sales transactions, with two transactions, while “Al-Baradi 1” area recorded the highest trading value, which amounted to AED612,000.
Finally, in Kalba City, the “industrial area” was the highest area in terms of the number of sales transactions, with ten sale transactions. It also recorded the highest trading value, which amounted to AED4.1 million.