Sharjah records Dhs5.7bn in real estate transactions for Q3 2021

In Q3 2021, there were 16,781 real estate transactions recorded in Sharjah worth Dhs5.7bn by the end of September, according to a report issued by the Sharjah Real Estate Registration Department.

It marks a growth rate of 22.7 per cent compared to the same period last year, while the volume of area circulated in sales transactions amounted to around 16.5 million sq ft.

The ownership deed transactions increased by 34.4 per cent and sales transactions increased by 52.5 per cent, year-on-year.

The ownership certificates transactions topped all others with 9,629, followed by ownership deed transactions with 4,758 transactions. It was followed by 1,160 transactions of initial sales contracts and 990 mortgage transactions, while there were 244 valuation transactions.

The total number of mortgage transactions amounted to 990 valued at Dhs2.4bn.

There were 1.662 sales transactions, an increase of 52.5 per cent, compared to the corresponding period last year. Most sales transactions took place in Sharjah, with 1,542 transactions in 93 different areas, amounting for Dhs2.2bn.

In addition, 64 percent of sales transactions were confined to five areas: Al Khan, Muwailih Commercial, Al Rigaibah, Al Saja’a Industrial and Hoshi, all through 987 transactions, while the remaining 36 per cent of sales transactions were distributed over 88 districts.

The number of usufruct sale transactions reached 80, worth Dhs105m, led by Al Khan area at 40, valued at Dhs37.9m.

As for the property types involved in the sales transactions, residential properties accounted for the largest share, at 76 per cent with 1,262 transactions. Industrial transactions came in second with 12.4 per cent at 206, followed by commercial transactions at 152, at a rate of 9.1 per cent of all the transactions. Lastly, there were 42 agricultural transactions accounting for 2.5 per cent of all sales transactions.

Investors in Sharjah belonged to 50 nationalities. The investments of GCC citizens, including Emiratis, amounted to nearly Dhs4.5bn across 4,874 properties. Furthermore, citizens of other countries, including Arab nations, invested in 1,042 properties worth Dhs1.2bn.

“The great growth that has been achieved in the real estate sector in Sharjah reflects this recovery and proves the confidence of investors in the real estate market, especially after the series of economic incentives and facilities launched by the Executive Council in November of 2020, which contributed to the increase in the volume of real estate transactions as compared to the previous year,” said Abdulaziz Ahmed Al Shamsi, director-general of the Sharjah Real Estate Registration Department.