Sharjah Real Estate Boom: Record Month and $1.2 Billion in Transactions

The Sharjah real estate market continues to demonstrate steady growth. October 2024 became a record-breaking month in transaction volumes, highlighting the dynamic development of the sector.

Record-Breaking Figures

According to the Sharjah Real Estate Registration Department’s report, the total value of transactions in October reached AED4.4 billion ($1.2 billion). A total of 4,883 transactions were registered, covering 14 million square feet of real estate.

Total number of transactions: 4,883.

Sales transactions: 1,415 (29% of total transactions).

Mortgage transactions: 443 (9.1%), with a total value of AED1.3 billion ($354 million).

Other transactions: 3,025 (61.9%).

Property Diversity and Area Distribution

Sales transactions were distributed across 126 areas in various parts of Sharjah, including residential, commercial, industrial, and agricultural properties. Among the different types of real estate:

693 transactions involved land plots.

450 transactions were for units in high-rise buildings.

272 transactions were for built-up lands.

Major Deals and Key Areas

In the Al Mamzar area, the largest transaction of the month was concluded for a land plot valued at AED62 million ($16.9 million). This area also led in mortgage transactions, including the largest mortgage deal for a plot worth AED386 million ($106 million).

Muwailih Commercial topped the list for the number of transactions with 257 sales, as well as for the highest trading volume of AED258.6 million ($70.4 million).

In Tilal, the trading volume reached AED161.6 million ($44 million), while Al Sajaa Industrial accounted for AED130.5 million ($36.5 million).

Al Khan recorded a trading volume of AED83.2 million ($22.7 million).

Central Region and Other Cities

In the Central Region, 226 transactions were completed, with 193 taking place in Al Qasimia City, which also led in trading volume with AED133.6 million ($36.4 million).

In Khor Fakkan, 23 transactions were recorded, with Hay Al Zubara leading in trading volume at AED2 million ($544.6 million).

In Kalba, 19 transactions were registered, with the largest trading volume in Al Tarif 1, amounting to AED4.1 million ($1.1 million).

Advantages for Investors

The robust performance of Sharjah’s real estate market reaffirms its appeal to investors. The growing number of transactions, significant trading volumes, and diverse property options position this market as one of the most promising in the region.

If you want to explore investment opportunities in Sharjah real estate or plan to close a deal, we invite you to a consultation. Contact us to take the next step into the world of successful investments!