Sharjah real estate transactions in June touch Dhs1.9bn

A report by Sharjah Real Estate Registration Department (SRERD) shows that in June, the emirate saw a total of 747 real estate sales transactions in 106 areas, with a total value of cash amounting to Dhs1.9bn, and total area exceeding 6 million square feet.

The figures include 358 mortgage transactions worth Dhs764m, according to the state news agency, WAM.

Abdulaziz Ahmed Al Shamsi, director general of SRERD, said, “Despite being impacted by the global economic conditions since last February, the sector has maintained an upward momentum in growth and a positive recovery pace. It has benefited from the increased appetite of investors to conduct real estate transactions. Companies and individuals seek to invest in real estate as it is a safe haven for capital and an ideal way to achieve a decent lifestyle.”

The total transactions executed amounted to 2,521, including 747 selling transactions, representing 29.6 per cent of the total. Mortgage transactions amounted to 358, or 14.2 per cent, while the rest of the transactions represented 56.2 per cent, or 1,416.

Real estate transactions in the emirate in June included residential, commercial, industrial, and agricultural land.

According to the type of property, vacant land transactions amounted to 239 (32 per cent). In comparison, built lands amounted to 177 transactions (23.7 per cent), while the separated towers represented 331 transactions (44.3 per cent).