Today's Edition
SHARJAH (WAM)
The Sharjah Real Estate Registration Department issued the Real Estate Transactions and Mortgages Movement report revealing a trading volume of Dh3.1 Billion with 4,458 real estate transactions in February.
According to the report, the real estate sector in Sharjah continues to significantly grow and prosper, while the development projects in the emirate have been attracting a wide number of local, Arab, and international funds and investments, which resulted in high returns for investors.
Additionally, the continued support from Sharjah’s Government for this sector made a huge positive impact.
This includes the series of incentives, and the different facilities to investors, entrepreneurs, and real estate developers.
Notably, a total of 4,458 transactions were carried out during February and the sales transactions reached 1,048 representing 23.5 percent of the total number of transactions.
As for mortgage transactions, 355 were recorded representing eight percent of the total with a total value of Dh581.4 million.
The remaining transactions amounted to 3,055, which represented 68.5 percent of the total number of transactions.
Taking place in 101 areas distributed across various cities and regions of Sharjah spanning an area of 8.7 million square feet, the sales transactions included residential, commercial, industrial, and agricultural lands.
Regarding the type of traded real estate, 413 lands were traded, 328 units in towers, and 307 of built-in land transactions.
Muwailih Commercial area continues to lead the list of areas with the highest number of sales transactions in Sharjah, recording 213 transactions, followed by “Rawdat Al-Qart” with 138, then "Al-Mazairah" and “Al-Khan” areas with 77 transactions each.
As for trading volume, Muwailih Commercial area also topped the list, with a trading volume of Dh382 million, followed by Um Fanain with Dh109.5 million, Al-Khan area with Dh84.2 million, and Al-Sajaa Industrial area with Dh83.3 million.
Transactions in the Central Region were mostly concentrated in Al-Madina Al-Qasimia, with eight transactions, while the highest area in terms of trading volume was Blida which recorded Dh13.4 million.
As Khor Fakkan, Al-Bardi 4 area topped the list with 11 transactions, which also ranked the highest numbers in terms of trading volume in the city, reaching Dh6.9 million.
Finally, and in the city of Kalba, Sur Kalba Commercial area was the highest, with four transactions, while the Al-Saaf 7 area was the highest area with a trading volume of Dh1.5 million.
