In July 2024, Sharjah’s Real Estate Transactions Exceeded $1 Billion

In July 2024, Sharjah’s real estate market recorded impressive results, with transactions totaling $1.06 billion (AED 3.9 billion), according to the latest data. The total number of transactions reached 4,146, while the total area traded was 13.8 million square feet.

Transaction Dynamics

The Real Estate Market Performance Report by the Sharjah Real Estate Registration Department highlights the emirate’s market attractiveness and its growing ability to attract local, Arab, and international investors. Of the total transactions in July, 1,460 were sales, accounting for 35.2% of the total. Mortgage transactions numbered 385, representing 9.3% of the total, with a value of AED 1.4 billion. The remaining 2,301 transactions (55.5%) were not mortgage-related.

Areas and Types of Transactions

Real estate transactions occurred across 119 areas in various cities and regions of the emirate, including residential, commercial, industrial properties, and land. Transactions included 568 land plots, 544 built-in land properties, and 348 units sold in towers.

Popular Areas

In Sharjah city, there were 1,304 transactions recorded. The highest number of transactions was in the “Muwaileh Commercial” area with 352 transactions, followed by “Tilal” with 145 transactions, “Rawdat Al-Qart” with 127 transactions, and “Al-Khan” with 89 transactions.

Source: Arabian Business