AED 1.3 billion of real estate transactions in Central, Eastern regions of Sharjah

A recently published report on the movement of real estate transactions, issued by Sharjah Real Estate Registration Department, has revealed that the cash trading volume in the “Central and Eastern” regions of the emirate reached AED 1.3 billion during the first nine months of 2024, and with a growth rate of 57.6 percent compared to last year.

The total of these real estate transactions in the department's branches amounted to 22,059, covering 37 million square feet.

In this context, Omar Al Mansouri, Director of Branches Department at the Sharjah Real Estate Registration Department, stated, "The real estate sector in the “Central and Eastern” regions achieved new record levels, thanks to the Sharjah Government's continued care in the development of the infrastructure and legislation, and providing all forms of support to investors, which has contributed significantly to strengthening the real estate sector in all cities and regions of the emirate."

Al Mansouri added, “There has been a launch of many real estate and tourism projects in these two regions, such as road projects, hotels and resorts, in addition to the advanced infrastructure, which made these areas the point of attraction for investors from inside and outside the country, and led to a clear growth in the real estate market. We, at the Real Estate Registration Department, are working to implement standards and laws that enhance economic growth and support the prosperity of the real estate sector.”

In details, Al Mansouri stated that the transactions volume in the four branches constituted 4.7 percent of the total trading volume in the emirate. The total cash trading volume in the “Central region” amounted to AED 810.3 million, representing 2.9 percent, while it amounted to AED 262.4 million in the city of “Khorfakkan”, representing 0.9 percent, and AED 234.6 million in the city of “Kalba”, representing 0.8 percent, and AED 15.5 million in the city of “Dibba Al Hisn”, representing 0.1 percent of the total trading volume of the branches.

Meanwhile, Al Mansouri pointed out that the number of sales transactions in the “Central region” reached 577 across 41 different areas, and with a total value of AED 464.9 million, and “Al Qasimia” city accounted for the largest part of them, with 346 transactions, representing 60 percent of the total sales transactions, followed by “Al Maashi” area with 24 transactions, and "Maghsa Industrial" area with 23 transactions.

In addition, the number of transactions in “Khorfakkan” city reached 194 across 23 areas, and with a value of AED 114.6 million. "Hay Al Harai Industrial" area recorded 37 transactions, representing 19.1 percent of the total sales transactions in the city, followed by "Hay Hayawa 4" area with 25, then "Hay Al Bardi 4" area with 24 transactions.

As for “Kalba” city, the number of transactions reached 118, that took place in 33 areas, and with a total value of AED 78.9 million. "Al Tarif 5" recorded 25 transactions, at a rate of 21.2 percent of the total sales transactions in the city, followed by “Sur Kalba commercial” area with 15 transactions, and “Kalba industrial” areas with 13 transactions.

Finally, and in “Dibba Al Hisn” city, the sales transactions were distributed over 3 areas through 16 transactions worth AED 12.3 million, 68.8 percent of which took place in “Hay Al Shamali” area with 11 transactions.