Connect with us

Real Estate

Real estate transactions in Sharjah increased to AED 2.8 billion in April

With 4.6 million square feet of traded area in the emirate

Published

on

According to the “Real Estate Transactions Movement Report” issued by Sharjah Real Estate Registration Department (SRERD), the monetary value of real estate transactions in Sharjah during April has noticeably increased to AED 2.8 billion, compared to a value of AED 1.7 billion of real estate transactions in the previous month.

In light of the economic stability that characterizes Sharjah, in addition to its prominent strategic location in the middle of the other emirates, this growth continues at an upward pace, making this sector a major attraction for local, Arab and foreign investors, and enhancing the emirate’s position and reputation as a leading global destination.

This remarkable growth, in some respect, is due to the continued activities of major real estate development companies in the smiling emirate. In addition, it is due to the financial facilities provided to the business sector, and the integrated modern lifestyle that the emirate provides to its citizens and residents, in light of the development of infrastructure and the expansion of the road network and public service facilities. Moreover, the strength and flexibility of legislation and laws helps regulating and stabilizing the real estate sector, in implementation of the directives of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of Sharjah Executive Council (SEC), and their great support and keenness to enhance the growth of this vital sector, as it is considered one of the most contributing sectors to the economy of the emirate and the UAE. 

Executing 2,614 real estate transactions

The monthly report issued by SRERD indicated that the total real estate transactions carried out by the department amounted to 2,614 transactions during April. The sales transactions constituted 19.3% of the total transactions, with 504 transactions, while the mortgage transactions were 585 transactions comprising 22.4% of the total transactions, and with a total value of AED 1.7 billion dirhams. The remaining 1,525 transactions were distributed over a group of other real estate transactions, with a percentage of 58.3% of the total transactions.

Trading area of 4.6 million square feet in 62 areas

The report also revealed that the real estate market sales covered a total area of 4.6 million square feet, distributed over 62 areas in various regions of the emirate of Sharjah. The types of real estate traded included residential, commercial, industrial, and agricultural l.

The number of transactions for units sold in towers totaled 187 transactions. As for land transactions, the number amounted to 122 transactions, while 195 transactions were attributed to the built-in land.

Al-Layah area is the most active in terms of monetary value 

The report showed that “Mezair’ah” area ranked the highest in terms of the number of sales transactions in Sharjah due to two projects in the area, with 123 transactions, followed by “Muwaileh Commercial” with 89 transactions, “Al-Khan” area with 43 transactions, then “Rodat AlQarat” area with 29 transactions.

As for the most active areas in terms of the monetary value, “Al-Layah” area came first with a trading volume of AED 414.7 million, followed by “Muwaileh commercial” area with a trading value of AED 180.9 million, ” Mezair’ah area with a trading volume of AED 32.7 million, then “Industrial Area 12” with a trading value of AED 29 million.

In the central region of Sharjah, sales transactions were focused on “Al-Qasimiah” area with 10 transactions, and a trading value of AED 7.9 million.

As for Khor Fakkan, “Al-Haray industrial” area came as the highest area in terms of the number of sales transactions, with 2 transactions, while “Al-Baradi 1” area recorded the highest trading value, which amounted to AED 612 thousand.

Finally, in the city of Kalba, the “industrial area” was the highest area in terms of the number of sales transactions, with 10 sale transactions, and it also recorded the highest trading value, which amounted to AED 4.1 million.

Advertisement

Latest

Industry18 mins ago

“And Just Like That” Season 2 Drops Exclusively on OSN+ on 22 June

OSN, the region’s leading TV entertainment company for premium, must-see content, is excited to announce the highly anticipated return of...

Developments27 mins ago

Dubai south properties appoints GINCO general contracting to develop south Bay

Dubai South Properties announced the appointment of Ginco General Contracting for a significant contract valued at AED 1 billion for...

Gadgets & Technology36 mins ago

Mindware Partners with OneSpan to Help Protect MEA Organizations from Digital Fraud

Mindware, a leading value-added distributor (VAD) in the Middle East and Africa, announced today its partnership with OneSpan, the digital...

Events & Happenings41 mins ago

Candlelight Concert Series presents Rings & Dragons in Dubai

Fever brings the multi-sensory musical experience to awe-inspiring locations like never seen before

Events & Happenings49 mins ago

Saudi Arabia to display interactive design installation “Woven” at London Design Biennale 2023

The Architecture and Design Commission announces the participation of the Kingdom of Saudi Arabia in the fourth edition of the...

Business & Money24 hours ago

Bodour Al Qasimi appoints Mariam Al-Obaidli as Managing Director of Kalimat Group

Publishing industry expert to drive innovation and enrichment of Arabic library with group's exceptional publications

Information & Technology2 days ago

HE Al Zeyoudi meets delegation from Mexico to enhance cooperation in fields of trade, investment, agriculture, advanced technology and financial services

His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has welcomed a delegation of senior...

Events & Happenings2 days ago

42 Abu Dhabi Hosts its Second Chess Tournament with the Participation of World-Renowned Champions

42 Abu Dhabi, the UAE capital’s innovative and disruptive coding school that provides a unique peer-to-peer, gamified learning methodology, hosted...

Events & Happenings2 days ago

Dubai’s summer ‘KIDS-GO-FREE’ campaign kicks off with an exclusive meet & greet with A-LIST KID-FLUENCERS at motiongate

Dubai’s summer just got a lot cooler! Get ready to experience the magic of MOTIONGATE™ Dubai and Dubai’s incredible attractions...

Business & Money2 days ago

MeetChina returns to Abu Dhabi for 10th edition

With China’s reopening gaining momentum and global destinations eager for Chinese visitors to return, MeetChina offers the ideal platform for...

Business & Money2 days ago

Lumina Capital Advisers appointed as a registered provider to UK Government’s DBT Overseas Referral Network

Lumina Capital Advisers, a leading corporate finance advisory firm, has been appointed by the UK government’s Department for Business and...

Energy & Environment3 days ago

HE Al Zeyoudi Addresses US GreenTech Delegation in Dubai, Invites Private-Sector to Invest in Clean Energy Transition

His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, addressed a US-led GreenTech delegation to...

Events & Happenings3 days ago

Abu Dhabi Festival Co-production of ‘Eden’ World Tour Continues to Captivate Audiences Worldwide

The Abu Dhabi Festival co-production of Grammy-winning mezzo-soprano Joyce DiDonato’s ‘Eden,’ which seeks to restore humanity’s connection to the natural...

Education3 days ago

The Green Planet and GEMS Legacy School Join Forces to Raise Awareness on Plastic Pollution

In celebration of World Environment Day, The Green Planet – Dubai’s only indoor tropical rainforest – is partnering with GEMS...

Events & Happenings3 days ago

Soak up the sun and enjoy JUMEIRAH creekside hotel’s pool party at CU-BA rooftop

Jumeirah Creekside Hotel is thrilled to announce its latest offering, the exciting Pool Party at Cu-Ba. Overlooking Dubai Creek, the...

Advertisement

Trending