Sharjah real estate transactions recorded 4.2 billion AED in Q-3 of the year 2019

Last Update: Sunday, November 3, 2019 : 15:34 (+4GMT)

Al Shamsi: Sharjah has become a leading hub for families worldwide to live in and enjoy a safe, stable and happy life

Sharjah, United Arab Emirates - November 03, 2019: Real estate transactions have recorded AED 4.2 billion AED in the Emirate of Sharjah in the third quarter of 2019, while the total areas covered in the "sales transactions" in the emirate reached 9.5 million feet, as per the latest report of the Sharjah Real Estate Registration Department (SRERD).

Abdulaziz Ahmed Al Shamsi, Director General - SRERD, said the Emirate recorded up to 14,974 real estate transactions over July, August and September.

Figures reflect a significant rise of 31.4% in the number of the transactions recorded in the third quarter of 2019 as compared to the same period in 2018, he underlined.

“The Emirate of Sharjah recorded 14,974 real estate transactions over July, August and September in 2019 in comparison to 11,393 property transactions recorded over the same three months in 2018.”

The real estate transactions recorded in Quarter-3 consisted of 646 "Sales", 1,453 "Initial Sale Contracts" and 210 “Evaluations. “These are added to 694 “Mortgages” transactions which are valued at about 1.8 billion AED.”

Favourite destination for regional families

H.E Abdulaziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department (SRERD) said the Emirate of Sharjah has become an attractive market for local and foreign investors.

“This is mainly due to the directives of His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, who pays much attention to the real estate sector.”

“The encouraging business environment has boosted the Emirate’s position as a trust-worthy, economic and investment hub on the regional and international map.”

Al Shamsi added that the Emirate has become a favourite tourist destination for families from the region. “The Emirate has boosted its position as an ideal destination for families to live and work in.”

The Emirate has recently beaten over 200 cities worldwide, and won the “Child Friendly Cities Award” from the United Nations Children's Fund (UNICEF) - Child Friendly Social Services category, he stated.

“The Emirate has further joined the Global Network of Age-Friendly Cities of the World Health Organization and became the first Arab member in this international network.”

This made Sharjah a key role model to follow in the Middle East, he underlined. “The Emirate has become a leading hub for families from around the world to live in and enjoy a safe, stable and happy life.”

Sharjah City on the top

Most of the real estate transactions were recorded in Sharjah city branch which constituted 96.9% from the total transactions value recorded in the third quarter of 2019.

Most of the "Sales" transactions were recorded in Al Khan area with 127 transactions, while the highest transaction value worth 253 million AED, was recorded for the Muwaileh Commercial Area.

“The other branches recorded 3.1% from the total real estate transaction value reported. These recorded 1.2% at Al Dhaid, 1.1% at Khor Fakkan, and 0.8% at Kalba branch.”

Residential properties on the top

Residential properties ranked first in terms of “Sales” transactions, constituting 64.4% of the total transactions recorded. These were followed by industrial properties (17.9%), commercial properties (13.8%), and agricultural properties (3.9%).

Investors from 41 nationalities

Investors from 41 nationalities worldwide have invested in the real estate sector of the Emirate of Sharjah in the third quarter of 2019.

“GCC nationals’ real estate investments in the Emirate of Sharjah recorded around 3.5 billion AED, while the real estate investments of other nationalities valued at about 700 million AED.”

Posted by: GoDubai PR Dept
Viewed: 2758 times
PR Category: Local & Government News
Posted on: 3 Nov 2019 3:34:00 PM (GMT+4)

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