Home Real Estate Sharjah records Dhs3.9 billion in real estate transactions in January 2024

Sharjah records Dhs3.9 billion in real estate transactions in January 2024

by Staff Reporter
Published: Last Updated on
Sharjah Real Estate

The volume of real estate transactions in the Sharjah reached Dhs3.9 billion in January 2024, according to the latest monthly report released by the Sharjah Real estate Registration Department.

This constitutes a huge increase compared to January 2023, where the volume reached only Dhs2 billion. Consequently, the transactions carried out during January 2024 witnessed a significant increase compared to last year, reaching 5,412 during January 2024, while in January 2023, they reached only 2,999.

Sharjah Real Estate

The department’s statistics show that last January’s total transactions reached 5,412, and the sales transactions reached 879, representing 16.3 percent of the total transactions. As for the number of mortgage transactions, it reached 288, which represented 5.3 percent of the total transactions and a total value of Dhs548.1 million. The other remaining transactions amounted to 4,245, representing 78.4 percent of the total transactions.

Sales transactions occurred in 106 areas distributed across various cities and regions of the emirate, including residential, commercial, industrial, and agricultural lands. As for the traded real estate, 358 lands were traded, built-in land transactions amounted to 282, and the number of units sold in tower transactions reached 239 out of the total number of transactions.

Top Sharjah areas

The report also showed that “Muwailih Commercial” topped the list of the highest areas in the number of sales transactions in Sharjah, recording 122 transactions, followed by “Al-Mazairah” area with 114, “Al-Khan” area with 61, and “Hoshi” area with 43 transactions.

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As for the most active areas in terms of trading volume, “Muwailih Commercial” came first, with a trading volume of Dhs164.1 million, followed by “Al-Sajaa Industrial” area with Dhs152.5 million, “Al-Khan” with Dhs79.2 million, and “Al-Mamzar” with Dhs71.7 million.

In the central region, the transactions were concentrated in “Al-Madina Al-Qasimia,” with 46 transactions recorded as the highest trading volume numbers, reaching Dhs32 million.

Khor Fakkan

In Khor Fakkan, “Hay Al-Haray Industrial” area came first, with seven transactions, while “Hayawa 4” district recorded the highest trading volume numbers, reaching Dhs3.2 million.

Kalba

Finally, in the city of Kalba, “Al-Tarif 5” topped with four transactions and was also the highest area in the city regarding trading volume, reaching Dhs1.5 million.

tanvir@dubainewsweek.com

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