Registration of 11 new real estate projects in Sharjah during 2022

 The Sharjah Real Estate Registration Department reported that 11 new real estate projects were registered during the year 2022 in different regions of the emirate.

In data issued today, it indicated that about 133 projects recorded the sale of 8,989 real estate units over the past twelve months in completed and under construction projects.

And she explained that the cash trading volume of initial sale contract transactions in projects increased in 2022 by 12%, with a total value of 4.4 billion dirhams, compared to the previous year.

Obaid Abd al-Rahman al-Mazloum, Director of the Real Estate Projects Organization Department at the Real Estate Registration Department, said, "The results and indicators of existing and new real estate projects reflect the high pace of sales and the growth of trading volume, as the real estate sector in the Emirate of Sharjah continues to maintain its momentum and activity, which confirms the stability of the market and its success in Providing various purchase and ownership options such as usufruct and freehold, while making available a diversified real estate product, whether for residence, housing or investment. Al Mutlaq for units in real estate projects approved by the Real Estate Development Projects Approval Committee in the Emirate.

He added that, according to the real estate development projects registered in 2022, these new projects were divided into 9 projects with residential use, including 6 projects located in the Mezaira’a area, a project in the Al Tayy area east of the phrase “residential vacant lands,” and a project in the Barashi area, which is a residential complex containing residential villas. Various facilities, and a project in the Al-Nad area (Al-Qasimia). A tower was also registered in the Al-Khan area for commercial residential use, and a multi-storey residential complex in the Al-Mudifi area in the city of Khor Fakkan. Its units were represented in a group of apartments and shops, and these units covered the total area of About 3.1 million square metres.

He explained, "On the other hand, the number of sorted real estate projects during the past year reached 11 projects, as these projects recorded the implementation of 5,283 floor sorting transactions, an increase of 68.4%, with a growth difference of 2,146 transactions compared to the floor sorting transactions in 2021, which amounted to 3,137 transactions."

Sorting transactions for parking lots and apartments accounted for 93.7% of the total of these transactions, with 2,741 transactions for parking lots and 2,208 transactions for apartments, which were concentrated in existing real estate projects in Muwaileh commercial areas and Al Majaz 2, while the rest of sorting transactions were distributed to offices, shops, health clubs and services.

He added that in terms of initial sales contract transactions carried out by real estate development companies in the emirate, the total number of these transactions amounted to 4,656 transactions, of which 3,608 transactions were for the purpose of ownership, representing 77.5% of the total transactions.

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