UAE: Sharjah concludes real estate deals worth Dh1.9 billion in June

2,521 transactions cover over six million square feet



by

A Staff Reporter

Published: Fri 15 Jul 2022, 5:38 PM

The results of the June report, issued by the Sharjah Real Estate Registration Department (SRERD), revealed that real estate deals were concluded with a total value of cash transactions amounting to 1.9 billion dirhams. This was achieved through 747 sales transactions in 106 areas spread over various regions of the emirate, with a total area exceeding 6 million square feet. The figures include 358 mortgage transactions worth 764 million dirhams.

Enhancing opportunities and areas to attract investment to the sector

Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department, said: "Despite being impacted by the global economic conditions since last February, the sector has maintained an upward momentum in growth and a positive recovery pace. It has benefited from the increased appetite of investors to conduct real estate transactions. Companies and individuals seek to invest in real estate as it is a safe haven for capital and an ideal way to achieve a decent lifestyle."

Director General of the Sharjah Real Estate Registration Department continued: "SRERD is committed to complete transparency. It contributes to developing the quality of real estate services by enhancing opportunities and areas to attract investment to the sector. It boosts the acceleration of economic growth towards wider areas of success and stimulates housing, building and construction activities, and major development projects."

Abdul Aziz Ahmed Al Shamsi added: "These results are in line with the strategic vision of the Emirate of Sharjah in the areas of economic and social development, enhancing financial sustainability, stimulating the macroeconomy, and providing adequate housing for citizens and residents alike, something that embodies what was recently confirmed by His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, when he said that housing has a special value, as it is part of the Sharjah Emirate program, which includes five main items, including housing, employment or source of income."

Transaction classification

The total transactions executed by the department during the past month amounted to 2,521, including 747 selling transactions, representing 29.6% of the total. Mortgage transactions amounted to 358, or 14.2%, while the rest of the transactions represented 56.2%, or 1,416.

Sales transactions

The June real estate transactions in the emirate covered more than 6 million square feet and included residential, commercial, industrial, and agricultural lands.

According to the type of property, vacant land transactions amounted to 239 (32%). In comparison, built lands amounted to 177 transactions (23.7%), while the separated towers represented 331 transactions (44.3%).

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Top traded areas

The department's statistics showed that Muwailih Commercial, Al Khan, Hoshi, and Rodhat Al Qrt areas topped the areas of Sharjah city regarding the number of traded properties. At the same time, Muwailih Commercial acquired the largest share of the cash trading volume in the city.

As for the central region, trading was concentrated in Khedira 2, Al Taiba 2, Saih Al-Sadah, and Suhaila 3, while the Al Maashi area led the trading volume.

Al Bardi 2, Al Qadisiyah, Al Lu'luiyah, and Al Mudaifi areas witnessed the highest number of trades in the city of Khorfakkan, and Al Mudaifi topped the city's areas in terms of the trading volume.

Most of the real estate transactions in the city of Kalba came in the industrial and commercial areas of Sur Kalba, Suhaila 31, and Industrial Kalba, and the Industrial Area topped in terms of cash trading volume.


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