The Real Estate Registration Department in Sharjah reported that the total value of real estate transactions in the emirate during the past year amounted to 24.2 billion dirhams, a growth of 7.3% compared to 2018.
The department indicated that housing transactions topped the total transactions by 69.4%.
In detail, the General Director of the Real Estate Registration Department in Sharjah, Abdulaziz Ahmed Al Shamsi, said that «the total value of real estate transactions in Sharjah, during the past year, reached 24.2 billion dirhams, an increase of 7.3% compared to 2018, while the total number of real estate transactions reached 61.35 thousand transactions during Last year, an increase of 13.4% over the previous year.
He added that «the number of transactions of title deeds in the emirate, during the past year, amounted to 11.53 thousand transactions, with a turnover of 9.6 billion dirhams, while the number of mortgage transactions reached 3760 transactions, with a turnover of 14.6 billion dirhams», pointing out that «the number of valuation transactions The number of transactions reached 963, while the number of initial sale transactions amounted to 5272 transactions, testimony transactions reached 36 thousand and 955 transactions, and other disposition transactions amounted to 2,872 transactions.
Residential transactions
Al Shamsi pointed out that «according to the classification of real estate traded in sales transactions and its area in the Emirate of Sharjah, during the past year, the number of traded properties reached 3328 properties with an area of 46.3 million square feet, while residential transactions topped the total transactions by up to 69.4% of the total number of transactions , Followed by commercial transactions at 15.9%, while industrial transactions reached 11.8%, and finally agricultural transactions at 2.9%.
He explained that with regard to the number of real estate traded, the apartments topped by 1213 apartments, while the number of lands that were traded reached 895 pieces.
Sales transactions
He pointed out that the number of sales transactions in various regions of the emirate reached 3328 transactions, and the city of Sharjah acquired the largest shares of them, where 2963 transactions were sold in 105 regions, with a value amounting to 4.8 billion dirhams, topped by the commercial areas of Muwailih, Al Khan, Al Nahda and Al Hushi. Muwailih Commercial, the highest number of trades by 567 trades, as the region itself recorded the highest turnover at a size of 1.2 billion dirhams.
Al Shamsi stated that «the diversity in the quality of projects and the launch of a number of new projects during the past year, which have had a positive reflection on real estate transactions, also opens new horizons during the year 2020 for investors and attracting new investors from various countries of the region».
Real estate sector
“The real estate sector in the emirate continues to develop and grow under the direction of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of the Emirate of Sharjah, and follow-up to His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince,” said the Director General of the Sharjah Real Estate Registration Department, Abdulaziz Ahmed Al Shamsi. Deputy Ruler of Sharjah, Chairman of the Executive Council of the Emirate of Sharjah, and the availability of various investment opportunities that the emirate has abundant ».