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Sharjah posts Dh3.5B real estate deals in February

Staff Report - The number of sales transactions in the emirate amounted to 457, which accounted for 25.1 per cent of the total number of deals

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Sharjah Real Estate Registration Department on Wednesday announced that it recorded 1,818 property transaction worth Dh3.5 billion in February.

Abdul Aziz Ahmed Al Shamsi, director-general of the Sharjah Real Estate Registration Department, explained that the number of sales transactions in the emirate amounted to 457, which accounted for 25.1 per cent of the total number of deals, while the number of mortgage transactions reached 244, which represented 13.4 per cent of the total number of deals. The remaining 61.5 per cent was for other transactions which reached 1,117.

Regarding the number of transactions according to the type of property, Al Shamsi stated that the number of Land Sales Transactions in Sharjah amounted to 170, while the number of Built-in Land Sales Transactions reached 140, and the number of Units Sold in Towers reached 147 transactions in February.

Moreover, about the area which ranked the highest in terms of sales transactions, Al Shamsi said that Al Rugaiba area recorded the highest number with 66 sales transactions.

Furthermore, he noted that in February, a major real estate acquisition deal was concluded between real estate development companies operating in the emirate, at a value of Dh690 million, aiming to establish a luxurious residential real estate project on an area of 19 million square feet.

In addition, Al Shamsi praised the turnout of women and businesswomen to invest in the smiling emirate, noting that the value of investments made by women in real estate sector reached “Dh1 billion” in 2020.

— business@khaleejtimes.com