Sharjah's real estate market reached a trading volume of Dh10 billion in the first quarter of 2024

 

Marking a 67.1% increase from the same period last year. The sales transactions surged to 6,146, a significant rise from 3,011 transactions recorded in the previous year, as per the "Quarterly report on the real estate sector performance" by the Sharjah Real Estate Registration Department. The total number of transactions during this period was 23,478, showing a 9.3% growth year-over-year, with a traded area of 28.3 million square feet.

Abdul Aziz Ahmed Al Shamsi, the Director General of the Sharjah Real Estate Registration Department, highlighted the government's commitment to supporting the real estate sector, emphasizing Sharjah's status as a prime investment destination. He noted the contribution of numerous development projects and the eased real estate ownership regulations for non-citizens and GCC nationals.

In the mortgage sector, the first quarter saw 976 transactions, up 13.1% from last year, totaling Dh2.2 billion. Residential real estate led the transaction volume with 2,242 transactions, accounting for 80.9% of the total. This was followed by commercial transactions at 9.1% with 254 transactions, industrial transactions at 8.6% with 237, and agricultural transactions at 1.4% with 38.

The total property transactions in Sharjah numbered 2,771, with residential lands leading at 1,052 properties, followed by residential apartments at 700, residential built-in lands at 397, and industrial lands at 160.

The real estate sector in Sharjah attracted investors from 94 different nationalities during the quarter. UAE nationals were the largest investors with a total of Dh4.4 billion spent on 7,628 properties. GCC nationals, excluding Emiratis, invested Dh625.5 million across 347 properties. Arab citizens invested Dh2.1 billion in 1,762 properties, while investors from other countries spent Dh2.8 billion on 1,739 properties. The top investors by nationality were Emiratis, Indians, Syrians, Pakistanis, and Jordanians, in that order.