• 13,195 transactions, including 1,131 sales at 122 areas, cover 10m square feet
• Al Shamsi: Sharjah provides safe environment for real estate investment, attracts local & foreign investors
May 19, 2019 - Dubai, UAE:
Government Communication Department - Real Estate Registration Directorate - Sharjah 19/05/2019
Real estate transactions valued AED 5.2 billion in the Emirate of Sharjah in the first quarter of this year, as per the latest report revealed by the Sharjah Real Estate Registration Directorate (SRERD).
The latest figures show that the Emirate recorded 13,195 transactions, including 1,131 sales at 122 areas that covered 10 million square feet.
Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Directorate in Sharjah, said the Emirate has become a safe environment for local and foreign investors.
“This is mainly due to the directives of H.H Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, to secure a nurturing environment for real estate investment.”
This has made the real estate sector in the Emirate more attractive to local, Arab and foreign investors, he added.
“The federal and local laws and legislations that do encourage investment has helped stabilize the real estate investment nationwide despite the ongoing challenges.”
Al Shamsi said the real estate deals in the Emirate of Sharjah reached AED5.2 billion in the first three months of the year. “The main branch accounted for Dh4.9 billion or 95.3% of total deals sealed in Q-1 against 4.7%, in other branches. The Central Region branch recorded 2.4%, of these deals compared to 1% in Khor Fakkan branch and 1.3% in Kalba branch.”
“The highest deals, valued at AED2.2 billion, were concluded in February against AED1.7 billion in March and AED1.3 billion in January.”
Sales Transactions Per Region
Up to 1,131 sales transactions were registered across the Emirate in the first quarter of the year. Most of these were recorded in Sharjah city, led by Muwailah Commercial area, Al Khan, Al Nahda, Hushi, as well as Al Majaz-3 where most apartments were registered.
“Al Taiba-2 area followed by Al Bahaes area recorded the top sales transactions registered in the Central Region over the first quarter of this year, while Al Harri Industrial area followed by Al Luluia area recorded the most sales transactions in Khor Fakkan, and Kalba Industrial area and Al Saf area led the sales transactions concluded in Kalba city.”
Residential properties on the top
Residential properties ranked first in the sales transactions, followed by commercial, industrial and agricultural properties.
Up to 996 mortgage transactions, worth AED 2.97 billion, were recorded in Sharjah in the first quarter of the year.
Investors from 31 nationalities
Investors from 31 nationalities worldwide were involved in the reported real estate transactions in the Emirate of Sharjah in the first three months of the year.