The Sharjah Real Estate Registration Department (SRERD) has reported 2,999 real estate transactions worth Dh2 billion in January 2023, further cementing the emirate’s position as a desirable location for property investment. This strong start to the year follows a strong performance in 2022, when the SRERD recorded a 15.3% year-on-year increase in real estate transactions, totaling 7,267 transactions worth Dh24 billion.
According to SRERD statistics, sale transactions accounted for the majority of total transactions, accounting for 22.5% of the total with 673 transactions. Mortgage transactions came in second place, with 250 transactions totaling Dh510 million. The remaining 2,076 transactions accounted for 69.2% of the total.
The sales transactions took place in 93 different areas across Sharjah, totaling 4.3 million square feet of traded real estate. This included residential, commercial, industrial, and agricultural land, with a total of 162 lands and 245 built-land transactions. Out of the total transactions, 266 units were sold in tower transactions.
According to the data, Muwaileh Commercial had the most real estate sales, with 136 transactions, followed by Al Rigaibah, Al Khan, and Hoshi. Al Khan commercial area came out on top in terms of monetary value, with a turnover of Dh266.2 million, followed by Al Rigaibah and Muwaileh commercial areas, each with a turnover of Dh106.4 million.
Al Thumama had the most sales transactions in the central region, with six, followed by Al Qasimia, with five. Al Thumama’s transactions were worth Dh7.9 million, followed by Al Taybeh 1’s transactions worth Dh2.6 million. Al Mudaifi was the most active trading area in Khorfakkan, with seven transactions totaling Dh5.7 million. Kalba industrial area had the most sales transactions, with six, while Suhaila 31 had the highest trading volume, with Dh1.6 million in sales.
Investor Confidence Soars in Sharjah’s Real Estate Market with Dh2 Billion in Sales
