November real estate deals in Sharjah exceed $735m
Boom month for emirate, featuring 2,813 transactions, with sales accounting for 13.3 million sq.ft.
Real estate transactions in the Emirate of Sharjah during November increased to AED2.7bn ($735m), compared to AED1.9bn the previous month.
A total of 2,813 real estate transactions were carried out during the period, and 650 were sale transactions, accounting for 23.1 per cent, according to the latest report issued by the Sharjah Real Estate Registration Department (SRERD).
Mortgage transactions increased to 322, comprising 11.4 per cent of the total transactions – amounting to AED921m, with the remaining 1,841 transactions distributed over other real estate transactions, representing 65.5 per cent.
The report revealed that real estate market sales covered a total area of 13.3 million sq ft, distributed over 99 locations in various cities of Sharjah. Types of real estate traded included residential, commercial, industrial, and agricultural.
Transactions involving subdivided towers totalled 265 and accounted for 40.8 per cent of the total sale transactions. Vacant land transactions reached 194, representing 29.8 per cent of the total, while 191 transactions were attributed to the built-up land sector, equating to 29.4 per cent.
The report showed that during November, the real estate market focused on the Muwailih Commercial area of Sharjah with 151 transactions, followed by Hoshi and Al Khan areas with 71 transactions each, and then Al Majaz 3 with 48.
Muwailih Commercial also led in terms of monetary value for real estate transactions with a total of AED193.9m, followed by the Al Majaz 3 area with AED80.1m. Meanwhile, the Al Khan area recorded AED73.4m in transactions, while further sales transactions in the station area totalled AED55m.
In the central region of the Emirate of Sharjah, deals focused on the Al Blelaida region with seven transactions and a trading value of AED79.3m. Al Taiba 1 region recorded five transactions, totalling AED5.6m, and then the Seh Al Sadah region recorded four transactions with a total of AED2.8m
