Sharjah’s real estate market is witnessing impressive growth, with investments from 100 countries. In the first half of 2024, foreign investors traded as many as 5,914 properties in the emirate- that’s 84.6% more than in the same period last year.
The leaps in technology have significantly gained the real estate sector of Sharjah. However, as pointed out by Abdulaziz Ahmed Al Shamsi, Director-General of Sharjah Real Estate Registration Department, it is the emirate’s focus on digital transformation and smart investment solutions that continue to drive foreign interest at a high pitch.
Al Shamsi added, “The number of foreign investors increased by 22% during the first half of 2024 compared to the last year. The total number of foreign investors reached 5,422, which gives a growth rate of 74.4%. Overall cash trading volume stood at AED 8.3 billion ($2.3 billion), an increase of 115% in the same period in 2023.”.
One very important forum for these results is the Sharjah Investment Forum, hosted this year under the theme “A Futuristic Vision for Smart Economies.” The event showcased Sharjah’s welcoming investment environment and desire to attract international capital to projects supporting diversification, efficiency, and sustainable economic growth.
Al Shamsi emphasizes the cardinal importance of the Fourth Industrial Revolution, which challenges and offers opportunities to the real estate industry. This new era has been embraced through smart automated processes that streamline the investor experience and provide innovative services in Sharjah.
He pointed out that solution digitization has made it easier for foreign investors to come and do business in the emirate. This is one of the factors through which Sharjah can be more competitive than its counterparts in the real estate market, especially with record-breaking volumes of international buyers.
The excellent performance posted in volume and diversity places Sharjah as one of the region’s key emerging investment hubs for real estate.
