SHARJAH: The volume of real estate transactions in the Emirate of Sharjah reached AED3.9 billion in January 2024, according to the latest monthly report released by the Sharjah Real Estate Registration Department.
This constitutes a huge increase compared to January 2023, where the volume reached only AED2 billion. Consequently, the transactions carried out during January 2024 witnessed a significant increase compared to last year, reaching 5,412 during January 2024, while in January 2023, they reached only 2,999.
The department’s statistics show that last January’s total transactions reached 5,412, and the sales transactions reached 879, representing 16.3 percent of the total transactions. As for the number of mortgage transactions, it reached 288, which represented 5.3 percent of the total transactions and a total value of AED 548.1 million. The other remaining transactions amounted to 4,245, representing 78.4 percent of the total transactions.
Sales transactions occurred in 106 areas distributed across
various cities and regions of the emirate, including residential, commercial, industrial, and agricultural lands. As for the traded real estate, 358 lands were traded, built-in land transactions amounted to 282, and the number of units sold in tower transactions reached 239 out of the total number of transactions.
The report also showed that ‘Muwailih Commercial’ topped the list of the highest areas in the number of sales transactions in Sharjah, recording 122 transactions, followed by ‘Al-Mazairah’ area with 114, ‘Al-Khan’ area with 61, and ‘Hoshi’ area with 43 transactions.
As for the most active areas in terms of trading volume, ‘Muwailih Commercial’ came first, with a trading volume of AED164.1 million, followed by ‘Al-Sajaa Industrial’ area with AED152.5 million, ‘Al-Khan’ with AED79.2 million, and ‘Al -Mamzar’ with AED71.7 million.
In the central region, the transactions were concentrated in ‘Al-Madina Al-Qasimia’, with 46 transactions recorded as the highest trading volume numbers, reaching AED32 mi
llion.
In Khor Fakkan, ‘Hay Al-Haray Industrial’ area came first, with seven transactions, while ‘Hayawa 4’ district recorded the highest trading volume numbers, reaching AED3.2 million.
Finally, in the city of Kalba, “Al-Tarif 5” topped with four transactions and was also the highest area in the city regarding trading volume, reaching AED1.5 million.
Source: Emirates News Agency