Sharjah registers real estate transactions worth Dhs549.4m in H1 2023

Image: SCTDA

According to the recently released annual report by the Sharjah Real Estate Registration Department, real estate transactions in the emirate’s Central and Eastern regions amounted to Dhs549.4m.

The transactions were facilitated through the department’s branches located in the Central region and the cities of Khorfakkan, Dibba Al-Hisn, and Kalba, according to state news agency, WAM.

During H1 2023, the total real estate transactions recorded in the department’s branches reached 14,195, accounting for 34.8 per cent of all transactions executed within the emirate during the same period.

Additionally, the total area traded in sales transactions amounted to 15.1 million square feet.

Omar Al-Mansouri, director of the Branches Department at the Sharjah Real Estate Registration Department, attributed the growth to the Sharjah government’s attractive incentive packages and facilities for local and international investors.

Al-Mansouri also highlighted the substantial investments in infrastructure and development projects in the Central and Eastern regions under the leadership’s guidance.

The projects, which include road developments, infrastructure enhancements, hotels, tourist and heritage resorts, and environmental initiatives, have significantly contributed to the region’s prosperity and growth in real estate transactions during H1 2023.

The report showed that the trading volume in the four branches constituted 4.1 per cent of the total trading volume in the emirate’s real estate sector during the mentioned period.

Highlights of real estate transactions in Sharjah

The cash trading volume in the central region accounted for Dhs231m, with Khorfakkan reaching Dhs185.4m, Kalba at Dhs120m, and Dibba Al-Hisn with around Dhs13m, reported WAM.

The central region registered 197 sales transactions across 32 different areas, with a combined value of Dhs173m.

Al-Qasimiah City accounted for the largest share of these transactions, with 85 sales transactions representing 43.1 er cent. This was followed by Al-Thamamah region with 15 transactions and Tawi Hamdah and Al-Belaida regions with 10 transactions each.

In Kalba, 98 sales transactions were recorded in 21 regions, totalling Dhs54.1m. The industrial area recorded the highest number of transactions with 21, making up 21.4 per cent of the total sales in the city, followed by Kalba Industrial area with 18 transactions, and As-Saaf area with 11 transactions.

Khorfakkan saw 84 sales transactions in 24 areas, with a total value of Dhs67.5m.

The highest number of transactions (12) occurred in Al-Mudeife area, representing 14.3 per cent of the total sales in the city, followed by Al-Haray Commercial area with ten transactions, and the Industrial and Al-Baradi-2 areas with nine transactions each.

Dibba Al-Hisn recorded 14 transactions, valued at Dhs9m, distributed among three regions.

Most of these transactions (over 57 per cent) took place in Hay Ash-Shamali, with eight transactions.