The volume of real estate transactions in Sharjah reached AED 2.8 billion in August 2024.
The Sharjah Real Estate Registration Department has published its report for August 2024, highlighting an impressive total of AED 2.8 billion in transactions across the emirate.
Overview of Transactions
This month saw the completion of 3,055 transactions, covering over seven million square feet of land, indicating strong market activity. Transactions took place in 105 different areas and included various property types, such as residential, commercial, industrial, and agricultural. Specifically, there were 403 vacant plots, 242 developed lands, and 409 subdivided towers among the transactions.
City Performance Breakdown
Sharjah was in the spotlight with 948 transactions. The Muwailih Commercial area led with 271 transactions, followed by Tilal (86), Al-Khan (83), and Rawdat Al-Qart (77).
Cash Trading Highlights
In terms of cash volume, Muwailih Commercial topped the list again with AED 238.5 million, followed by Tilal at AED 136.7 million, Al-Mamzar at AED 89.9 million, and Al-Sajaa Industrial at AED 89.3 million. Sale transactions accounted for 34.5% of the total, amounting to 1,054 deals. Mortgage transactions numbered 342, representing 11.2% of the total and valued at AED 677 million, while other transactions totaled 1,659, making up 54.3%.
Regional Activity
The central region recorded 78 transactions, with Al-Qasimia City contributing 52 and achieving a cash volume of AED 30 million. Khorfakkan saw 12 transactions, with Al-Harai Industrial and Commercial Districts each having three transactions. Al-Gharb District led in cash volume with AED 1.6 million. Kalba reported 16 transactions, with Kalba Commercial and Al-Sur 4 each contributing three transactions, while Al-Sur 1 achieved the highest cash trading volume at AED 4.1 million.
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