Sharjah Real Estate Transactions records Dh1.9 Bn within July 2023
In the upcoming months, it is anticipated that Sharjah's real estate market would continue to expand.
Sharjah's Real Estate Transactions in July 2023
In July 2023, Sharjah's real estate market achieved a significant milestone with transactions exceeding Dh1.9 billion, based on a monthly report released by the Sharjah Real Estate Registration Department.
A total of 2,783 transactions were executed, encompassing various segments of the real estate market, and reflecting the emirate's commitment to economic diversification.
Economic Diversification Strategy Drives Real Estate Growth
The government's strategic initiative to diversify revenue streams is credited with Sharjah's real estate advancement over the years, raising the industry to a crucial contributor to the emirate's economy. A strong economy and the introduction of new projects that adhere to international standards have been made possible by the concentrated efforts to attract investment possibilities.
Anticipated Future Growth and Investment Opportunities
With the emirate's promising investment landscape and the introduction of new projects aligned with international benchmarks, the Sharjah real estate market is poised for continued expansion in the upcoming months. The strategic vision and ongoing initiatives are anticipated to attract more investors and contribute to sustained growth.
Out of the total transactions, 684 were sales transactions, constituting 24.6% of the total. Mortgage transactions accounted for 16.1%, totaling 447 transactions with a value of Dh420.1 million. Additionally, other transactions represented 59.3%, totaling 1,652 transactions.
Diverse Transactions Across Regions
Sales transactions encompassed 96 areas distributed across various cities and regions within Sharjah. The properties traded spanned residential, commercial, industrial, and agricultural lands. Notably, Mezair'ah led in sales transactions with 132, followed by Muwaileh Commercial area with 102.
Monetary Value and Key Areas
Muwaileh Commercial area stood out in terms of monetary value, totaling Dh82.8 million, followed by Al-Sajaa Industrial area with Dh57.8 million. Mezair'ah, Al-Rigaibah, and Al-Khan areas also featured prominently in transaction value.
In the central region, Al-Qasimia and Al-Blida areas each recorded eight transactions, with Al-Blida attaining a value of Dh15.5 million. Khor Fakkan's Al-Haray industrial and residential areas, along with Al-Mudaifi, contributed to the overall transactions.
City of Kalba witnessed activity in the commercial areas of Sur Kalba, Sur Kalba, and Al-Saf, with Al-Saf area leading in monetary value at Dh5.7 million.
A Vibrant Real Estate Landscape
Sharjah's dynamic real estate landscape, driven by strategic planning, diversified projects, and ongoing investment initiatives, continues to bolster the emirate's economic growth and position it as a compelling destination for investors and stakeholders.