Sharjah records AED 2 billion worth of real estate transactions in August

Sharjah records AED 2 billion worth of real estate transactions in August

12 September 2022 – EMIRATES NEWS AGENCY-WAM –

The Emirate of Sharjah completed real estate transactions totalling AED 2 billion during August 2022, according to the monthly report published by Sharjah Real Estate Registration Department (SRERD).

The total number of transactions executed by the (SRERD) during the past month amounted to 2,409, with 747 sales transactions representing 31 percent of total transactions. Mortgage transactions amounted to 303, which is 12.6 percent of the total transactions, with a value exceeding AED 710 million. In addition, 1,359 other transactions represented 56.4 percent of the total.

Sales transactions took place in 98 areas across the various cities of the emirate of Sharjah, and the total area of traded real estate reached 6.3 million square feet and included residential, commercial, industrial, and agricultural lands.

Types of real estate included 160 lands, amounting to 21.4 percent of the total, while built lands amounted to 254 (34 percent), and 333 transactions of subdivided towers accounted for 44.6 percent.

The report’s data showed that Muwaileh Commercial topped the list of areas with the highest number of real estate sales deals with 213 transactions, followed by Al Khan area with 104, Al Rigaibah with 39, then Mazairah with 36 transactions.

As for the highest traded areas in the matter of monetary value Muwailih Commercial also topped the areas of Sharjah City with a total trading value of AED 187.4 million, then Al Khan area with a total of AED 105.9 million, followed by Al Nahda area with a total of AED 63.8 million, then Al Rigaibah with a total of AED 54.6 million.

In the central region, the sales transactions were concentrated in Al Yafer 2, Al Qasimia City, Al Taybeh 2, and New industrial Area Magdh totalling 15 transactions. Al Yafer 2 traded with worth AED 6.4 million, then Al Weshah 1 with a value of AED 1.6 million. Al Khatm and Al Owaid recorded real estate deals worth AED 1 million each.

The commercial areas Al Harrai, Al Bardi 1, Al Harrai Industrial area, and Al Lulayyah were the top 4 areas in terms of the number of transactions in the city of Khorfakkan, totalling 10 transactions. Al Lulayyah recorded the highest trading volume with a value of AED 2.4 million, followed by the Al Qadisiyah area with a trading value of AED 2 million. Al Yarmouk traded with AED 1.1 million, while Al Harrai Commercial recorded transactions worth AED 951,000.

In the city of Kalba, the Kalba Industrial, Al Bardi, and Sur Kalba commercial areas made ten real estate transactions. The Al Khuwair area acquired the highest trading volume with a value of AED 2.2 million. Al Bardi with a value of AED 1.4 million, followed by Suhaila 31 area with a value of AED 1.2 million. The Al Rigaibah area recorded AED 1.1 million.




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