Sharjah real estate posts Dh2 billion transactions in August

The Sharjah real estate recorded 2,409 sales transaction worth Dh2 billion in August as the investors continued to invest in the emirate’s property market.

Latest data released by Sharjah Real Estate Registration Department (SRERD) indicated that 747 sales transactions representing 31 per cdnt of total deals registered last month.

Mortgage transactions amounted to 303, which is 12.6 per cent of the total transactions, with a value exceeding Dh710 million. In addition ;1,359 other transactions represented 56.4 per cent of the total deals.

Sales transactions took place in 98 areas across the various cities of the emirate of Sharjah, and the total area of traded real estate reached 6.3 million square feet and included residential, commercial, industrial, and agricultural lands. Types of real estate included 160 lands, representing (21.4 per cent) of the total, while built lands amounted to 254 (34 per cent), and 333 transactions of subdivided towers represented (44.6 per cent).

Top traded areas

The report’s data showed that Muwaileh Commercial topped the list of areas with the highest number of real estate sales deals with 213 transactions, followed by Al Khan area with 104, Al Rigaibah with 39, then Mazairah with 36 transactions.

As for the highest traded areas in terms of value, Muwailih Commercial also topped the areas of Sharjah City with a total trading value of Dh187.4 million followed by Al Khan with a total of Dh105.9 million, Al Nahda with a total of Dh63.8 million, and Al Rigaibah with a total of Dh54.6 million.

In the central region, the sales transactions were concentrated in Al Yafer 2, Al Qasimia City, Al Taybeh 2, and New industrial Area Magdh totalling 15 selling transactions. Al Yafer 2 traded with worth Dh6.4 million, Al Weshah 1 with a value of Dh1.6 million. Al Khatm and Al Owaid recorded real estate deals worth Dh1 million each.

The commercial areas Al Harrai, Al Bardi 1, Al Harrai Industrial area, and Al Lulayyah were the top four areas in terms of the number of transactions in the city of Khorfakkan, totalling 10 transactions.

Al Lulayyah recorded the highest trading volume with a value of Dh2.4 million followed by the Al Qadisiyah area with a trading value of Dh2 million. Al Yarmouk traded with Dh1.1 million, while Al Harrai Commercial recorded transactions worth Dh951 thousand.

In the city of Kalba, the Kalba Industrial, Al Bardi, and Sur Kalba commercial areas made 10 real estate transactions. The Al Khuwair area acquired the highest trading volume with a value of Dh2.2 million and followed by Al Bardi with a value of Dh1.4 million, Suhaila 31 area with a value of Dh1.2 million and the Al Rigaibah with a value of Dh1.1 million.

— muzaffarrizvi@khaleejtimes.com