Sharjah’s real estate market witnessed significant growth in May 2024, with a trading volume of AED 4 billion, said latest “Real Estate Transactions Movement” report by the Sharjah Real Estate Registration Department.
This marks a substantial increase from April’s AED 1.7 billion, highlighting consistent monthly growth in Sharjah’s real estate sector.
Flourishing real estate environment
Over recent years, Sharjah’s real estate market has seen remarkable development, positioning the emirate as a key player in the regional and global real estate landscape. The sector’s readiness, sustainability, and competitive edge have made it an attractive destination for local, Arab, and international investors. This influx of new capital is driving economic diversity in the emirate.
Transaction breakdown
The report details a total of 9,454 transactions in May. Sales transactions accounted for 1,250 of these, representing 13.2% of the total. Mortgage transactions reached 576, or 6.1% of the total, with a value of AED 1.4 billion. Other transactions totaled 7,628, making up 80.7% of the overall transactions.
Sales activity across Sharjah
Sales transactions were recorded in 111 areas across Sharjah, encompassing residential, commercial, industrial, and agricultural properties. The transactions included 446 land sales, 432 unit sales in towers, and 372 built-in land sales.
Top trading areas
In Sharjah city, sales transactions totaled 1,122, with “Muwailih Commercial” leading with 280 transactions. “Rawdat Al-Qart” followed with 135 transactions, “Tilal” with 127, and “Al-Khan” with 75. “Muwailih Commercial” also topped in trading volume at AED 399.7 million, followed by “Tilal” at AED 196.3 million, “Um Fanain” at AED 94.6 million, and “Al-Khalidiya” at AED 84.5 million.
Regional highlights
In the central region, 88 sales transactions were recorded, with “Al-Madina Al-Qasimia” leading with 39 transactions and a trading volume of AED 22.8 million. Khorfakkan saw 28 sales transactions, with “Al-Bardi 4” leading both in number (10 transactions) and trading volume (AED 8 million). In Kalba, there were 12 sales transactions, with “Sur Kalba” recording 4 transactions and “Al-Tarif 5” having the highest trading volume at AED 1.5 million.
