Sharjah registered real estate transactions worth Dhs3.5bn in February 2021

The volume of real estate transactions in the emirate of Sharjah reached 1,818, with a value of Dhs3.5bn in February 2021, the Sharjah Real Estate Registration Department has revealed.

The number of sales transactions in the emirate amounted to 457, which accounted for 25.1 per cent of the total number, while the number of mortgage transactions reached 244, which represented 13.4 per cent of the total number, Abdul Aziz Ahmed Al Shamsi, director-general of the department said. The remaining 61.5 per cent was for other transactions which reached 1,117, he added.

Regarding the number of transactions according to the type of property, the number of land sales transactions in Sharjah amounted to 170, while the number of built-in land sales transactions reached 140, and the number of units sold in towers reached 147 in February, Al Shamsi added.

Moreover, Al Rugaiba area recorded the highest number of sales transactions with 66, official news agency WAM reported.

In February, a major real estate acquisition deal was concluded between real estate development companies operating in the emirate, valued at Dhs690m, to establish a luxurious residential real estate project in an area of 19 million square feet, he added.

The turnout of women and businesswomen to invest in the emirate was noteworthy, as the value of investments made by women in the real estate sector reached Dhs1bn in 2020.