SHARJAH, 16th December, 2022 (WAM) — Real estate transactions in the Emirate of Sharjah during November increased to AED 2.7 billion, compared to a monetary value of real estate transactions of AED 1.9 billion the previous month, according to a report issued by the Sharjah Real Estate Registration Department (SRERD).
Executing 2,813 real estate transactions
The report indicated that 2,813 real estate transactions were carried out during the period, and 650 were sale transactions, constituting 23.1 percent, while mortgage transactions increased to 322, comprising 11.4 percent of the total transactions amounting to AED 921 million, with the remaining 1,841 transactions distributed over other real estate transactions, representing 65.5 percent of the total.
Trading area of 13.3 million square feet across 99 regions
The report revealed that real estate market sales covered a total area of 13.3 million square feet, distributed over 99 locations in various cities of Sharjah. Types of real estate traded included residential, commercial, industrial, and agricultural lands.
The transactions of subdivided towers totalled 265 and accounted for 40.8 percent of the total sale transactions. Vacant land transactions reached 194, representing 29.8 percent of the total, while 191 transactions were attributed to the built-up land sector, equating to 29.4 percent.
Activity across the regions
The report showed that during November, the real estate market focused on the Muwailih Commercial area of Sharjah with 151 transactions, followed by Hoshi and Al Khan areas with 71 transactions each, and then Al Majaz 3 with 48 transactions.
Muwailih Commercial also led the monetary value of real estate transactions with a total of AED 193.9 million, followed by the Al Majaz 3 area with a total of AED 80.1 million.
The Al Khan area recorded AED 73.4 million in transactions, while sales transactions in the station area totalled AED 55 million.
In the central region of the Emirate of Sharjah, deals focused on the Al Blelaida region with seven transactions and a trading value of AED 79.3 million. Al Taiba 1 region recorded five transactions, totalling AED 5.6 million, and then the Seh Al Sadah region recorded four transactions with a total value of AED 2.8 million.
While most of the deals conducted in Khorfakkan in the Al Mudeife area came with four transactions, with a total trading value of AED 6.9 million, and with the same trading volume, two transactions were recorded in the Al Loleya area.
The Al Saf region in Kalba witnessed the registration of 4 transactions, while the industrial and commercial areas of Sur Kalba recorded two transactions in each region. In terms of the monetary value of real estate transactions, the Al Saf region recorded AED 3.5 million, transactions with a value of AED 3.2 million, and then the Al Mussalla area with a value of AED 2.9 million.
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