year-on-year increase of 22.7%
5.7 billion dirhams of Sharjah real estate transactions during the third quarter
Abdulaziz Al Shamsi: “The growth achieved by the sector confirms the recovery from the repercussions of the pandemic, and reflects the confidence of investors in the Sharjah market.”
The Sharjah Real Estate Registration Department revealed that the total value of real estate transactions in the emirate reached 5.7 billion dirhams during the third quarter of this year, an increase of 22.7% compared to the same period last year.
The department explained during a press conference yesterday that the transactions took place through 16,781 transactions, with a total area of 16.5 million square feet.
The director general of the department, Abdulaziz Al Shamsi, said that the real estate sector in the Emirate of Sharjah has returned to its previous position before the pandemic, according to the recently recorded data, noting that the growth achieved by the sector confirms the recovery from the repercussions of the pandemic, and also reflects the confidence of investors in the real estate market in the emirate. Especially after a series of economic stimuli and facilities launched by the Executive Council in November of 2020, which contributed to the continued increase in the volume of real estate trading compared to last year.
Al Shamsi added that 50 nationalities from around the world invested in Sharjah real estate during the third quarter of this year, explaining that the investment value of the citizens of the Gulf Cooperation Council countries, including Emiratis, amounted to 4.5 billion dirhams, amounting to 4874 real estate, as for the investment of other countries, including Arab countries, it amounted to 1.2 billion dirhams, with 1042 real estate.
He pointed out that the actions report issued by the department recorded a remarkable increase in the total number of transactions during the third quarter, compared to the same period last year, when the total number of transactions increased by 12.9%.
Al Shamsi indicated that property title transactions rose by 34.4%, while property certificates topped the transactions, amounting to 9,629 transactions, followed by title deeds transactions with 4,758 transactions, then transactions of initial sales contracts with 1,160 transactions, and mortgage transactions with 990 transactions, while the transactions of title deeds came with 4,758 transactions. Valuation is in last place with 244 transactions.
According to the report, the number of sales transactions in various regions of Sharjah during the third quarter of this year reached 1,662 transactions, an increase of 52.5% compared to the same period last year. to 2.2 billion dirhams.
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