Sharjah Real Estate Registration Department reported that the total value of real estate transactions (sales and mortgages) in the emirate reached AED 4.2 billion during the third quarter of this year.
The Director General of the Department, Abdulaziz Ahmed Al Shamsi, said that the number of transactions during the months of July, August and September last, reached more than 14.9 thousand transactions in various regions of the Emirate, compared to about 11.3 thousand transactions during the same period last year, a growth rate of 31.4%.
Al Shamsi pointed out that the most prominent transactions included 646 sales transactions, and 1453 transactions of the initial sale contract, while the number of mortgage transactions amounted to 694 transactions worth up to about 1.8 billion dirhams, while the number of valuation transactions 210 transactions, pointing out that the total volume of area traded in the sale transactions arrived To 9.5 million square feet.
Al Shamsi said that the emirate attracted investors from 41 nationalities from around the world during the third quarter of 2019.He pointed out that the value of investments by GCC nationals amounted to AED 3.5 billion, amounting to about 83.3% of the total value of expenditures, while the value of investment Other nationalities to more than about 700 million dirhams.
As for the selling transactions, according to the type of property, Shamsi said that residential transactions accounted for the largest share, reaching 64.4% of the total number of transactions, followed by industrial transactions by 17.9%, while commercial transactions accounted for 13.8%, and agricultural transactions came in last place by 3.9% %.
He pointed out that the highest trading volume in the emirate was Al Khan in Sharjah with 127 transactions, while Muwaileh Commercial Zone recorded the highest turnover of AED 253 million.
Al Shamsi said that the emirate of Sharjah has become an attractive haven for investors from inside and outside the UAE thanks to the provision of an incubator environment for real estate investment, which contributed to the growth of the sector.