UaSharjah Real Estate Registration Department (SRERD) has announced in its quarterly performance report that the real estate sector in Sharjah is experiencing remarkable growth. The report shows that during the first quarter of 2023, a total of 21,486 real estate transactions were recorded in Sharjah, with a total value of Dh5.9 billion.
The data released by the Sharjah Real Estate Registration Department (SRERD) on Tuesday revealed that the total value of real estate mortgages amounted to Dh1.7 billion. The residential properties sector dominated the sales, with 1,495 properties sold, representing 79.8 per cent of the total real estate sold. This represents an increase of 22 per cent compared to the number of residential properties sold in the same period last year, which was 1,225 transactions. The residential properties were distributed mainly on vacant lands and built-in lands, in addition to residential lands under construction, apartments, studios, and parking lots.
The number of real estate investors in Sharjah was distributed across 62 different nationalities. The investment value of the country’s citizens amounted to Dh3,8 billion, while the investment value of non-Emirati citizens of the GCC countries amounted to Dh449 million. Additionally, the investment value of citizens of Arab countries amounted to Dh1 billion, and the volume of investment for citizens of other countries amounted to Dh710.5 million.
According to the report, the number of Emirati investors reached 3,621, who made deals on 5,974 different properties. The number of non-Emirati GCC investors reached 253, and the number of properties they traded was 302. The number of Arab investors reached 942 investors who traded 946 properties, while the number of investors from other nationalities reached 476 investors who made deals on 426 properties.
Sales transactions in Sharjah took place in 88 areas, with 1,693 transactions and a total trading value of Dh2.5 billion. The Muwailih commercial area acquired the largest share in terms of number and value, with 400 sales transactions representing 23.6 per cent of the total sales transactions in the city and a turnover of Dh649.5 million. The Al-Khan area came next at a value of Dh373 million through 189 sale transactions, then Al-Rigaibah area with 141 transactions at a value of Dh184 million.
In the central region of the emirate, the total value of sales transactions amounted to Dh62.5 million, and took place through 84 transactions. These transactions were concentrated in the Al-Qasimia and Al-Thumama areas, where the two accounted for 42.9 per cent of the total sales transactions, and through 36 transactions. Moreover, the remaining 48 sales transactions were distributed among 20 other areas.
The city of Khor Fakkan recorded 47 sale transactions, with a total value of Dh37 million. The Al-Harai Industrial and Al-Mudifi areas accounted for 38.3 per cent of the total transactions through 18 transactions, while the remaining 29 sales transactions were distributed among 12 areas.
In Dibba Al-Hisn, the sale transactions were distributed among three areas. The Al-Shamali district topped the list with four transactions, constituting 57.2 per cent of the total number of sales transactions in the city, and with a total value of Dh5.8 million.
In Kalba, sales transactions were 42, concentrated in Kalba Industrial and Al-Saf areas, as they constituted 35.7 per cent of the total sales transactions in the city, with 15 transactions. As for the remaining 27 sale transactions, they were distributed among
