Dhs332.4m in transactions in central, eastern regions of Sharjah during Q1
The real estate sector in the Central and Eastern regions has witnessed a continuous development which expanded the economic horizons and offered promising opportunities
In the report issued by Sharjah Real Estate Registration Department (Sharjah RERD) showcasing the real estate performance in the regions and cities of Sharjah, it was revealed that the cash trading volume has reached Dhs332.4 million, and were carried out through the department’s four branches in Al-dhaid, Khor Fakkan, Dibba Al-hisn, and Kalba. Moreover, the total number of transactions in these branches has reached 6,732, with a total area of 10.1 million square feet during the first quarter of 2024.
Omar Al-mansouri, Director of Branches Department at Sharjah Real Estate Registration Department, said, “Over the past years, the real estate sector in the Central and Eastern regions has witnessed a continuous development which expanded the economic horizons and offered promising opportunities.”
“In addition, the two regions enjoy special attention from our wise government through the launch of many real estate and development projects, especially in tourism, which attracted investors from inside and outside the UAE, and was reflected in the growth and prosperity of the sector during the last period, as it is evident in the results of this report.”
Al-mansouri added, “Sharjah government’s interest in the continuous development of infrastructure and legislation has had a positive impact in supporting and developing the real estate sector in the emirate with its regions and cities”.
In the report details, Al-mansouri reported that the trading volume in the four branches has represented 3.3 per cent of the total trading volume of Sharjah’s real estate.
The total cash trading volume in “Al-dhaid” branch reached Dhs146.2 million, representing 1.5 per cent of the total trading volume. While it reached Dhs114.8 million in “Khor Fakkan” branch, at a rate of 1.1 per cent, and in “Kalba”, it reached Dhs62 million, which represented 0.6 per cent.
As for “Dibba Al-hisn” branch, it recorded Dhs9.3 million of cash trading volume, which represented 0.1 per cent of the total trading volume of the branches. Moreover, and according to the Department’s report, Al-mansouri explained that the four branches carried out 143 mortgage transactions, with a total value of Dhs130.3 million.
As for the Sales transactions, Al-mansouri said that “Al-dhaid” city branch has recorded 126 transactions that took place in 27 different areas, and with a total value of Dhs120.1 million.
“Al-madina Al-qasimia” accounted for the largest share of these sales, with 70 transactions, which represented 55.5 per cent of the total sales transactions, while the remaining 56 transactions were distributed across other 26 areas.
Al-mansouri added that the number of transactions in “Khor Fakkan” has reached 87, which took place in 20 areas, and with a total value amounting to Dhs51.3 million.
The areas of “Al-bardi 4 District” and “Al-harai Industrial District” accounted for 27.6 per cent of these transactions.