Construction

Sharjah real estate transactions worth $6.5 bn in 2019

Sharjah real estate market provides a wide variety of investment opportunities along with financing facilities, says SRERD

Real estate transactions in Sharjah valued at $6.58 billion in 2019, an increase of 7.3 per cent compared to 2018, according to the annual report by the Sharjah Real Estate Registration Department (SRERD). It also stated that a total of 61,357 transactions were recorded, an increase of 13.4 per cent compared to 2018.

The SRERD report also showed that sales transactions of 3,328 properties, 4.3 million sqm. in area, were registered in Sharjah over the past year. Moreover, 69.4 per cent of the transactions were related to residential properties, followed by commercial properties at 15.9 per cent, while industrial was at 11.8 per cent and agricultural at 2.9 per cent.

Residential properties ranked the highest in terms of sales transactions, where residential apartments have recorded 1,213 units and lands have recorded 895 properties.

Abdulaziz Ahmed Al Shamsi, director-general for SRERD, said that 11,535 title deeds transactions, worth $2.61 billion, were recorded in all the regions in Sharjah. He also noted that other transactions recorded 3,760 mortgage transactions, worth $3.97 billion, 963 valuation transactions, and 5,272 initial sales transactions.

He added: “Up to 3,328 sales transactions were recorded in all parts of the Emirate of Sharjah. Most of these were recorded in Sharjah city where 2,963 sales transactions, worth $1.31 billion, were recorded in 105 different areas.”t

Al Shamsi noted that most of the emirate’s city real estate sales transactions were recorded in Muwaileh Commercial, Al Khan, Al Nahda and Hoshi areas. “However, the highest number of the Sharjah city real estate sales transactions recorded last year was in Muwaileh Commercial Area where 567 dealings, worth $330 million were recorded,” he explained.

He further stated that up to 117 sales transactions almost totalling $20 million were recorded in 15 different areas of Khor Fakkan, predominantly in Al Harai’s industrial and commercial areas, while 114 transactions worth $28 million, were recorded in 39 different areas of the Central Region, most of which were recorded in Al Tayba-2 and Seeh Al Saddah.

Al Shamsi added that up to 110 sales transactions, worth $13.42 million, were recorded in 21 areas of Kalba city, mainly in the industrial areas of Kalba and Al Saf, while adding that Dibba Al Hisn city also recorded 24 sales transactions, valued at $4.9 million across five different areas.

The director-general concluded that the Sharjah real estate market provides a wide variety of investment opportunities for investors along with financing facilities offered by the banks, while the prices of the properties have become affordable for all investors in the market.

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