Real estate transactions in Sharjah reached a total value of AED2.4 billion in May 2023, indicating a significant volume of activity in the property market.
Real estate activity in the emirate of Sharjah during May 2023 reached a notable milestone, with transactions valued at AED 2.4 billion. This achievement further solidifies Sharjah’s position as an attractive destination for investors, businessmen, and families seeking real estate opportunities.
The Real Estate and Mortgage Report, issued by the Sharjah Real Estate Registration Department (SRERD), provided insights into the market’s performance. According to the report, a total of 3,540 transactions were recorded across various regions and cities of the emirate. These transactions encompassed a total area of 8.7 million square feet, showcasing the substantial activity within the real estate sector during the specified period.
The report also highlighted the sustained prominence of the real estate sector as a preferred choice for those interested in purchasing or investing in Sharjah. There was a noticeable surge in housing demand across different regions, attributable to the diverse options available, favorable geographical locations, and affordable living costs supported by robust infrastructure.
The well-developed and integrated infrastructure, coupled with attractive investment returns, has amplified the desire of citizens, residents, and investors to acquire land and new residential units in Sharjah. The emirate provides a secure and peaceful environment conducive to growth and prosperity, making it an ideal location for settling and investing.
Furthermore, the recent real estate transactions in May 2023 underscore the competitive advantages Sharjah offers to local, Arab, and foreign investors. These advantages align with the emirate’s sustainable development plans, which are part of the government’s commitment to economic diversification, fostering a strong, sustainable, and expansive economy.
The SRERD statistics revealed that a total of 3,540 transactions were executed in May, comprising 995 sales transactions (28.1% of the total), 733 mortgage transactions (20.7% of the total) valued at AED 709.7 million, and 1,812 transactions of other disposals (51.2% of the total).
The sales transactions spanned across 106 areas distributed throughout various parts of Sharjah, encompassing residential, commercial, industrial, and agricultural lands. The report highlighted that 295 land transactions took place, alongside 300 transactions involving built-in lands, and 400 transactions involving units in towers.
Among the areas with the highest number of sales transactions, Mezair’ah led the way with 158 transactions, followed by Muwaileh Commercial area with 155 transactions, Al-Khan area with 87 transactions, and Al-Mamzar area with 74 transactions.
Regarding the areas with the highest monetary value, Muwaileh Commercial area ranked first with a value of AED 160.6 million, followed by Al-Nahda with AED 75.8 million, Industrial Area No. 12 with AED 75.5 million, and Al-Sajaa Industrial area with AED 63.2 million.
In the central region, Al Qasimiah stood out with 43 transactions valued at AED 23.7 million.
In Khorfakkan, Al Baradi 2, Al Baradi 7, Al Mudeife 3, and Al-Zubara each witnessed two transactions. Additionally, Al Sharg area recorded the highest value, amounting to AED 3.8 million. In Kalba, both the Industrial Area and Kalba Industrial area saw four transactions each, with the Industrial Area having the highest value at AED 1.9 million.
The thriving real estate market in Sharjah continues to attract investors and individuals seeking high-quality properties within a supportive and growing environment. The report’s findings affirm the emirate’s commitment to maintaining a robust and prosperous real estate sector.
