Sharjah records real estate transactions worth Dhs24.2bn in 2019

Sharjah recorded real estate transactions valued in at Dhs24.2bn in 2019, up 7.3 per cent in comparison to 2018, official news agency WAM reported.

A total of 61,357 transactions were recorded last year, rising 13.4 per cent in comparison to 2018, according to the Sharjah Real Estate Registration Department (SRERD), a statement said.

Sharjah recorded 11,535 title deeds transactions, worth Dhs9.6bn, 3,760 mortgage transactions worth Dhs14.6bn, 963 valuation transactions, and 5,272 initial sales transactions.

Real Estate Categories 
Residential properties topped the sales category, constituting 69.4 per cent of total transactions, followed by commercial properties at 15.9 per cent, industrial (11.8 per cent) and agricultural (2.9 per cent).

Most of Sharjah city’s real estate sales transactions were recorded in the Muwaileh Commercial, Al Khan, Al Nahda and Hoshi areas.

Meanwhile, close to 117 sales transactions totalling Dhs73.4m were recorded in 15 different areas of Khor Fakkan, mainly in Al Harai’s industrial and commercial areas, Abdulaziz Ahmed Al Shamsi, SRERD director-general explained.

Also, up to 114 sales transactions, worth Dhs103m were recorded in 39 areas of the central region, most of which were recorded in Al Tayba-2 and Seeh Al Saddah, the statement said.

A total of 110 sales transactions, worth Dhs49.3m were recorded in 21 areas of Kalba city, predominantly in the industrial areas of Kalba and Al Saf.

“However, the highest number of the Sharjah city real estate sales transactions recorded last year was in Muwaileh Commercial Area where 567 dealings, worth Dhs1.2bn were recorded,” Al Shamsi said.

Read: Sharjah records Dhs4.2bn worth of real estate transactions in Q3

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