Sharjah records Dh2.2b worth of real estate deals in February 2023

Sharjah has witnessed a remarkable real estate movement during February 2023, with a total Dh2.2 billion worth of transactions, which reflects the continued growth and prosperity of the real estate sector in the emirate, and its success in attracting investors from around the world.

The ‘Mortgage movement report’ issued by Sharjah Real Estate Registration Department disclosed that 2,207 transactions were recorded in various regions of the emirate during the past month. The total traded areas in Sharjah reached 10.3 million square feet during the above-mentioned period, the report said.

Sharjah Real Estate Registration Department statistics showed that the total number of transactions executed during February reached 2,207.

The number of sales transactions amounted to 640 transactions, or 29 per cent of the total number of transactions, and the number of mortgage transactions reached 295 transactions, which is 13.4 per cent of the total transactions, with a total value of Dh385 million. While the remaining transactions of amounted to 1,272 transactions, which is 57.6 per cent of the total transactions.

Sale transactions

The sale transactions took place in 94 areas distributed over the various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands.

Regarding the type of real estate transactions, 191 lands were traded, while the built-land sales amounted to 193 transactions. As for the number of units sold in towers, it amounted to 256 transactions out of the total transactions.

The report also showed that Muwailih commercial area topped the list of areas with the highest number of sales transactions in Sharjah with a total of 158 transactions, followed by Al Khan area with 62 transactions, Al Muzayri'a area with 42 transactions, and then Al Tarfa area with 38 transactions.

As for the highest traded areas in the matter of monetary value, Muwailih commercial area topped the list with a turnover of Dh415 million followed by Al Qarayen 3 with a volume of Dh286 million, Al Nahda with a turnover of Dh118 million, then Al Sajaa Industrial area with Dh77 million.

As for the transactions executed in the central region of Sharjah, they were concentrated in Al Qasimia area with 16 transactions, with a trading volume of Dh6.6 million.

While in Khorfakkan, Al Mudaifi was the highest trading area with 3 transactions, while the Hatin region recorded the highest volume of transactions with a total of Dh4.8 million.

In Kalba, Al Saaf region witnessed two sale transactions, while Al Musalla region recorded the highest volume of transactions amounted to Dh2.4 million.

— muzaffarrizvi@khaleejtimes.com

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