Sharjah Real Estate Hits $1.1 Billion in January Transactions

Sharjah Real Estate Registration Department reported that the real estate sector of Sharjah has seen an unprecedented growth of AED 3.9Bn (4 1.1Bn) in January 2024. The sales volume in 2023 reached only AED 2Bn ($545M).

So, in the current year, Sharjah real estate has witnessed a significant increase in property transactions which reached 5,412 in 2024 while the previous year in 2023 it reached 2,999 only.

According to the Statistics Department, in the first month of this new year total transactions reached 5,412 and the sales transactions reached 879, which shows a straight 16.3 per cent in total transactions.

The mortgage transaction reached 288 which is a straight 5.3% increase with a total value of AED 548.1M. Similarly, another transaction was recorded at 78.4%. The sales transaction has been done in various areas of Sharjah approx. 106 areas including various cities and regions, commercial industrial, residential and agricultural lands.

A total of 385 lands were traded, the built-it land transactions number was 282, and the total unit sold in tower transactions was 239. On the other hand, Muwailih Commercial is the area located in Sharjah and has transacted the highest 122 transactions. Al -Mazairah area transacted 114, the Al-Khan area transacted 61 and the Hoshi area transacted 43.

Muwailih Commercial is the top area with a trading volume worth of AED 164.1M. Likewise, the Al-Sajaa Industrial area sales volume is worth AED 152.5M, Al Khan with AED 79.2M and Al Mamzar with AED 71.7M.

The sales transactions have been also seen in the central region of Sharjah, in the Al-Madina & Al–Qasimia area; the highest trading volume reached AED 32M with a total of 46 transactions. Hay Al-Haray industrial area in Khor Fakkan came first with a total of 7 transactions, while the Hayawa district recorded the AED 3.2M highest trading volume. And lastly, the City of Kalba, Al-Tarif has transaction 4 with a trading volume of AED 1.5M.