Sharjah real estate dealings crossed Dh1.9 billion in July 2023, said the monthly report released by the Sharjah Real Estate Registration Department.
Throughout this period, the department completed a total of 2,783 transactions, of which 684 were sales transactions 96 locations, dispersed across different regions of the emirate. These transactions encompassed a traded area exceeding 6 million square feet.
The growth and evolution of Sharjah’s real estate sector over the years are attributed to the Sharjah government’s deliberate approach to broadening revenue streams. This has effectively positioned it as a crucial economic contributor within the emirate.
Furthermore, it is predicted that the coming months would witness continued expansion within Sharjah’s real estate market. This is fueled by the emirate’s numerous investment openings, particularly with the introduction of additional new projects that align with the most elevated global benchmarks for planning and execution.
The Department’s statistics indicate that the total count of transactions carried out in July amounted to 2,783, where sales transactions constituted 684 cases, accounting for 24.6 percent of the total transactions. Furthermore, mortgage transactions numbered 447, contributing 16.1 percent of the overall transactions and totaling Dh420.1 million in value.
The report also highlights that Mezair’ah led the list with the highest number of sales transactions in Sharjah, recording 132 transactions. It was followed by Muwaileh Commercial area with 102 transactions, Al-Khan area with 78 transactions, and Al-Majaz 3 area with 36 transactions.
In terms of monetary value, Muwaileh Commercial area was at the forefront, with a value of Dh82.8 million, trailed by Al-Sajaa Industrial area with Dh57.8 million, Al-Rigaibah area with Dh42.8 million, and Al-Khan area with Dh38.6 million.
Central region transactions were primarily concentrated in Al-Qasimia and Al-Blida areas, each with eight transactions. Al-Blida held the highest monetary value at Dh15.5 million.
Khor Fakkan saw Al-Haray Industrial and Al-Haray Residential areas with three transactions each, while Al-Mudaifi registered the highest monetary value of Dh1.4 million.