Sharjah property transactions jump 95% to Dh3.9 billion in January 2024

The number of transactions carried out witnessed a significant increase compared to last year

A Staff Reporter

Published: Tue 20 Feb 2024, 11:22 PM

Sharjah recorded Dh3.9 billion worth of real estate transactions in January 2024 as compared to Dh2 billion in the same month last year, an increase of 95 per cent, according to a monthly report issued by Sharjah Real Estate Registration Department.

The number of transactions carried out during January 2024 witnessed a significant increase compared to last year, reaching 5,412 during January 2024 as against 2,999 transactions in January 2023.

The Department's statistics showed that the number of mortgage transactions reached 288 with a total value of Dh548.1 million, representing a 5.3 per cent increase.

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Sales transactions took place in 106 areas across various cities and regions of the emirate, which included residential, commercial, industrial, and agricultural lands.

The report also showed that the Muweilah Commercial area topped the list in terms of the number of sales, recording 122 transactions, followed by the Al Mazairah area with 114 transactions, Al Khan with 61 transactions, and the Hoshi area with 43 transactions.

Muwailih Commercial area came first, recording sales transactions of Dh164.1 million, followed by the Al-Sajaa Industrial area with Dh152.5 million, the Al Khan area with Dh79.2 million, and the Al Mamzar area with Dh71.7 million.

In the central region, the transactions were concentrated in Al-Madina Al-Qasimia, with 46 deals with a value of Dh32 million.