Sharjah records AED2.2bn worth of real estate transactions in February

The Sharjah real estate market has been a hive of activity during February 2023, with a total AED 2.2 billion worth of transactions, which reflects the continued growth and prosperity of the real estate sector in the emirate, and its success in attracting investors from around the world.

The "Mortgage Movement Report" issued by Sharjah Real Estate Registration Department revealed that 2,207 transactions were recorded in various regions of the emirate during the past month, while the total traded areas in Sharjah reached 10.3 million square feet during the above-mentioned period.

The number of sales transactions amounted to 640 transactions, or 29 percent of the total number of transactions, and the number of mortgage transactions reached 295 transactions, which is 13.4 percent of the total transactions, with a total value of AED 385 million. While the remaining transactions of amounted to 1,272 transactions, which is 57.6 percent of the total transactions.

The sale transactions took place in 94 areas distributed over the various cities and regions of Sharjah. These properties included residential, commercial, industrial, and agricultural lands.

Regarding the type of real estate transactions, 191 lands were traded, while the built-land sales amounted to 193 transactions. Units sold in towers accounted for 256 transactions out of the total transactions.

The report also showed that Muwailih commercial area topped the list of areas with the highest number of sales transactions in Sharjah with a total of 158 transactions, followed by Al Khan area with 62 transactions, Al-Muzayri'a area with 42 transactions, and then Al-Tarfa area with 38 transactions.

Muwailih commercial area topped the highest sales value list with a turnover of AED 415 million, followed by Al Qarayen 3 with a volume of AED 286 million, Al Nahda with a turnover of AED 118 million, then Al Sajaa Industrial area with AED 77 million.

As for the transactions executed in the central region of Sharjah, they were concentrated in Al Qasimia area with 16 transactions, with a trading volume of AED 6.6 million.

While in Khorfakkan, Al Mudaifi was the highest trading area with 3 transactions, while the Hatin region recorded the highest volume of transactions with a total of AED 4.8 million.

In Kalba, Al-Saaf region witnessed two sale transactions, while Al-Musalla region recorded the highest volume of transactions amounted to AED 2.4 million.

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