Sept. records real estate transactions worth AED1.9bn in Sharjah

Sharjah : The monthly report issued by the Sharjah Real Estate Registration Department (SRERD), revealed that real estate transactions, conducted during the month of September, totaled 2,299 transactions with a real estate trading value worth AED 1.9 billion. Real Estate sales transactions across various regions of the Emirate of Sharjah amounted to 677 of the total transactions.
2,299 transactions executed.
The data reported from the Sharjah Real Estate Registration Department during the past month showed 2,299 real estate transactions of various types including 677 sales transactions representing 29.4% of the total executed transactions, 299 mortgage transactions representing 13.1% of the total and valued at AED 608 million, while other miscellaneous transactions accounted for the remaining 57.5% of the total, reported at 1,323 transactions.

Real estate Sales transactions across 90 areas in Sharjah
The reported data highlighted that sales transactions were distributed across 90 areas in various regions and cities of the Emirate of Sharjah. Traded properties’ classification included residential, commercial, industrial, and agricultural lands, covering a total area of more than 3.9 million square feet.

Traded properties’ classification more specifically included 297 transactions of units sold in towers, representing the largest percentage of the total transactions at 43.9%, followed by land transactions with 198 transactions representing 29.2%, while built lands witnessed 182 transactions, representing 26.9% of the total.

Muwaileh Commercial: highest in trades
According to reported data, Muwaileh Commercial recorded 172 sales transactions, maintaining a lead in the ‘most traded areas of Sharjah city’ list. While Al Khan area witnessed the registration of 78 transactions, Al Rigayba was reported at 41 transactions, followed by Um Fanain with 38 transactions.

Monetary trading value across Sharjah City was also topped by Muwaileh Commercial, with a total trading value of AED 164.9 million. Followed by Um Fanain area which recorded transactions with a total value of AED 76.7 million, then Al Nahda with a value of AED 52.3 million, and Al Rifaah with a total of AED 52 million.

In the central region, sales transactions were distributed mainly to the commercial area of Al Madam, Al Faw Agricultural, Suhaila 3, and Al Madam Industrial, with a total of 7 sales transactions in these areas. In terms of the highest areas in the matter of monetary value, Al Madam Commercial recorded the highest trading value of AED 3 million, followed by Al Belaida area with a total of AED 2.7 million, while the Refada area recorded real estate deals worth AED 2.5 million. Al Faw Agricultural deals recorded AED 1.6 million.

Regarding sales transactions carried out in the city of Khorfakkan, Al Zubara and Al Haray industrial areas, Al Baradi 2, and Al Mudeife came first in terms of the number of trades, with a total of 10 transactions. While in terms of the highest areas in real estate trading value, Al Mudeife area acquired transactions worth AED 1.8 million. Followed by Al Loleya area with a value worth AED 1.5 million, Al Baradi 2 with a value of AED 1.2 million, and the value of transactions in Al Zubara Industrial Area amounted to AED 899 thousand.

In the city of Kalba, commercial area of Soor Kalba, Industrial, Industrial Kalba, and Al Saaf recorded 12 sales transactions. Al Baraha area witnessed the highest trading value of AED 3.5 million, followed by Hay AlKala, with a value of AED 3.2 million. Then Industrial area with a value of AED 2.9 million, and Al Ghail area recorded AED 1.8 million trading value.

Source: Sharjah 24