Strong growth for Sharjah real estate sales says SRERD
4,146 transactions were recorded in July 2024, with the market proving increasingly popular with international buyers
The real estate market in Sharjah continues to grow, achieving a trading value of US $1.1bn in prime areas of the emirate during July 2024. The latest figures were released by the ‘Real Estate Market Performance Report’ issued by the Sharjah Real Estate Registration Department (SRERD).
The total number of transactions reached 4,146, while the total area traded reached 13.8m sqft during the same period.
Sharjah’s market increasingly attracts local, Arab, and foreign investors, offering benefits such as multiple investment options, strong infrastructure, and a transparent regulatory framework. Additionally, there are many new real estate projects across the public and private sectors, driven by an increase in population and a growth in the number of international investors.
In July 2024, there were 385 mortgage transactions, representing 9.3% of the total real estate transactions, with a total value of US $381mn.
The sales transactions were registered across 119 areas of the emirate, with the mix including residential, commercial, industrial, and agricultural sectors. The total sales transactions in Sharjah City amounted to 1,304, with Muwaileh Commercial area recording the highest number, at 351. Muwaileh Commercial area also had the highest trading value at $68.3mn.
In the Central Region, the sales transactions reached 110, most of which were concentrated in Al-Qasimia City with 77 transactions, with a trading value of $15mn.
Meanwhile, KhorFakkan, recorded 26 sales, with Hay Al-Harai Industrial Area ranked the highest in terms of sales transactions with seven sales, while Hayawa 4 was the highest area in terms of trading value, at $816,000.
