UAE Real Estate Creates A New Record

Sharjah‘s Central and Eastern regions reached AED1.3 billion during the first nine months of 2024, Real estate transactions. It marked a 57.6 percent increase from the previous year, recorded by a report by the Sharjah Real Estate Registration Department. In this report, 22,059 transactions across 37 million square feet of land are recorded.

Omar Al Mansouri, Director of the Branches Department at the Sharjah Real Estate Registration Department said, “The real estate sector in the ‘Central and Eastern’ regions achieved new record levels, thanks to the Sharjah Government’s continued care in the development of the infrastructure and legislation, and providing all forms of support to investors, which has contributed significantly to strengthening the real estate sector in all cities and regions of the emirate” (according to a statement by the Emirates News Agency WAM)

Sharjah’s Central and Eastern Regions Report

Omar Al Mansouri further said, “There has been a launch of many real estate and tourism projects in these two regions, such as road projects, hotels, and resorts, in addition to the advanced infrastructure, which made these areas the point of attraction for investors from inside and outside the country and led to a clear growth in the real estate market. We, at the Real Estate Registration Department, are working to implement standards and laws that enhance economic growth and support the prosperity of the real estate sector,” 

The transactions across four branches represented AED1.3 billion in property transactions, which is 4.7 percent of the emirate’s total trading volume. The Central region recorded AED810.3 million (2.9 percent); 577 sales transactions occurred across 41 areas, totaling AED464.9 million.

Khorfakkan AED 262.4 million (0.9 percent), recorded 194 transactions across 23 areas, valued at AED 114.6 million. 

Kalba AED 234.6 million (0.8 percent), Kalba saw 118 transactions across 33 areas, worth AED 78.9 million.

Dibba Al Hisn, AED15.5 million (0.1 percent), reported 16 transactions across three areas, valued at AED12.3 million, with Hay Al Shamali area accounting for 11 transactions (68.8 percent).