Sharjah real estate Record

Sharjah real estate sector sees highest number of transactions in the month of October, 2024 and continues its strong growth. Through a report issued by Sharjah Real Estate Registration Department, the real estate market got AED4.4bn ($1.2bn) across 4,883 transactions in a total of 14 million square feet. In a particular report, sales transactions accounted for 1,415, representing 29 per cent of the total number of transactions.

Sharjah Real Estate Company

Sharjah real estate reached 443, representing 9.1 percent of the total transactions, with a value of AED1.3bn ($354m). Then, the number of other transactions reached 3,025, representing 61.9 per cent of the total number of transactions. These sales transactions occurred across 126 areas distributed across the various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands.

There were 693 transactions for land, 450 for units sold in towers and 272 for the built-in lands’ transactions in the type of traded property. Al Mamzar area recorded the highest real estate deal on land valued at AED62m ($16.9m) and the highest mortgage transaction during the same month on vacant land valued at AED386m ($106m).

The total number of sales transactions reached 1,145. Muwailih Commercial area continued to lead the list of areas with the highest number of sales transactions which is 257 transactions. It was followed by Al Khan area with 106, Muzeirah area with 92, and Tilal area with 81 transactions. With the highest trading volume record, Muwailih Commercial area also topped the list with a trading volume of AED258.6m ($70.4m), followed by Tilal area with AED161.6m ($44m), Al Sajaa Industrial area with AED 130.5m ($36.5m), and Al Khan area with AED83.2m ($22.7m).

The total sales transactions reached 226 with the majority in Al Qasimia City with 193 transactions in the Central Region. That was also the highest area in terms of trading volume, amounting to AED 133.6m ($36.4m). In that time, KhorfakkanIt recorded 23 sales transactions, with Al Harai Industrial & Commercial District leading the list with five transactions each.In terms of trading volume the highest area was Hay Al Zubara area which recorded AED2m ($544.6m).

Finally in Kalba city, 19 sales transactions led by the areas of Sur Kalba Commercial and Al Tarif 5 with three transactions while Al Tarif 1 area was the highest area in terms of trading volume, which amounted to AED4.1m ($1.1m).