Sharjah’s real estate sector has recorded a high volume of real estate transactions during November 2024, reaching AED4bn ($1.1bn), with 4,606 transactions covering 20.4 million square feet.
With these impressive figures and the guidance of astute leadership, Sharjah maintains its heritage character, which blends authenticity and modernity, while solidifying its status as a major real estate hub and one of the world’s most prosperous regions, renowned for its cultural and environmental diversity.
Additionally, the emirate has a regulatory framework that encourages investment and promotes the real estate industry. Its excellent, competitive prices compared to other emirates make it an ideal destination for individuals and families looking for security, comfort, and luxury.
Detailed Transaction Breakdown
The monthly statistical data issued by the Sharjah Real Estate Registration Department indicated that the total number of transactions reached 4,606, of which 1,522 were sales transactions, representing 33% of the total.
The number of mortgage transactions reached 339, representing 7.4% of the total transactions, with a value of AED668 m ($182m), while the remaining transactions reached 2,745, representing 59.6% of the total transactions.
Property Types and Locations
Regarding property type, there were 925 lands, 322 units sold in towers, and 275 for built-in lands transactions. The sales transactions were spread across 116 locations throughout Sharjah’s cities and regions, including residential, commercial, industrial, and agricultural properties and lands.
Standout Transactions and Areas
The Muwailih Commercial area recorded the highest real estate deal, concluded on land valued at AED180 m ($49m). This area also recorded the highest mortgage transaction on built-in land, with a value of AED51m ($13.9m).
Sales Transactions Across Sharjah
The total number of sales transactions in Sharjah reached 977, and Muwailih Commercial area continued to top the list of places with the highest number of sales transactions, recording 161 transactions, followed by Hay Hoshi with 104, Al-Khan area with 85, and Umm Funain area with 83 transactions.
As for the areas with the highest cash trading volume, Muwailih Commercial area also came first with a trading volume of AED470.7m ($128m), followed by Umm Funain with AED157.8m ($43m), Hay Hoshi with AED104.5m ($28.5m), and Tilal area with AED94.6m ($25.8m).
Central Region Insights
The central region saw 509 sales transactions in total, with the majority of those transactions occurring in Al Qasimia city, which had 473 transactions and the greatest trading volume, totaling AED334.2m ($91m).
Also Read: Dubai South, BT Holding LLC unveils massive master community project
Khorfakkan and Kalba Regional Transactions
As for Khorfakkan city, 16 sales transactions took place, and the Hay Al-Harai Industrial area topped the list with five transactions, while the Al-Batha 4 area recorded the highest trading volume, which amounted to AED5.7m ($1.6m).
Finally, in Kalba City, there were 15 sales transactions. Sur Kalba Commercial area came first, with four transactions, while the Al-Sur 4 area recorded the highest trading volume, which amounted to AED3.2m ($871,000).
