The Sharjah Real Estate Registration Department released its report on the “Real Estate Trading Movement” for the month of August 2024, highlighting a total value of real estate transactions amounting to Dh2.8 billion. The report detailed that 3,055 transactions covering 7 million square feet of land took place during that period.
Out of the total number of transactions, sales transactions accounted for 34.5%, mortgage transactions for 11.2%, and the remaining transactions represented 54.3%. The properties traded included residential, commercial, industrial, and agricultural lands, with 403 vacant lands, 242 built-in lands, and 409 sub-divided towers being transacted.
Sharjah city saw a total of 948 sales transactions, with the “Muwailih Commercial” area leading the list with 271 transactions, followed by the “Tilal” area with 86 transactions. In terms of cash trading volume, “Muwailih Commercial” also came out on top with Dh238.5 million, followed by “Tilal” area with Dh136.7 million.
In the central region, “Al-Qasimia City” recorded the highest number of sales transactions with 52 transactions and the highest cash trading volume of Dh30 million. In Khorfakkan city, the “Al-Harai Industrial District” and “Al-Harai Commercial District” recorded 3 transactions each, with “Al-Gharb District” witnessing the highest cash trading volume of Dh1.6 million.
Kalba city witnessed 16 sales transactions, with the highest cash trading volume recorded in the “Al-Sur 1” area with Dh4.1 million. Overall, the report showcased the active real estate trading movement in various regions and cities of Sharjah during the month of August 2024.
The real estate market in Sharjah continues to show resilience and growth, with a significant number of transactions and high trading volumes recorded in different areas. The variety of properties traded, including residential, commercial, industrial, and agricultural lands, indicates the diverse nature of the market and the investor interest across sectors.
The report highlights the key areas and regions of Sharjah that witnessed the most real estate activity, such as the “Muwailih Commercial” area in Sharjah city and “Al-Qasimia City” in the central region. These areas have emerged as hotspots for real estate transactions, attracting both investors and buyers looking for lucrative opportunities.
The data provided in the report serves as valuable information for real estate stakeholders, investors, and developers, allowing them to gauge market trends, demand patterns, and investment opportunities. It also reflects the overall economic stability and growth of Sharjah, making it an attractive destination for real estate investments.
Overall, the report on the real estate trading movement in Sharjah for August 2024 showcases the robustness of the market, with a significant number of transactions and high trading volumes contributing to the overall growth and development of the real estate sector in the emirate. Investors and stakeholders can leverage this information to make informed decisions and capitalize on the opportunities presented by the thriving real estate market in Sharjah.
