Sharjah real estate deals jump 40% to $3.3bn in H1

Date: Jul 27, 2021

Sharjah Real Estate Registration Department records 40,346 transactions related to 75.2 million square feet of real estate in the emirate.

The value of real estate transactions in Sharjah jumped by more than 40 percent to be worth AED12.2 billion ($3.3 billion) in the first six months of 2021 compared to the year-earlier period.

The Sharjah Real Estate Registration Department recorded 40,346 transactions related to 75.2 million square feet of real estate in the emirate.

The number of transactions almost doubled compared to January to June 2020, thanks to the return of business after the relative decline of the Covid-19 pandemic, state news agency WAM reported on Monday.

Sixty-three nationalities from around the world invested in Sharjah during the first half of 2021, with Gulf Cooperation Council citizens, including those from the UAE, investing a total of AED9.7 billion across 10,787 properties.

Investments from other countries, including Arab countries, amounted to AED2.5 billion across 1,961 properties.

Abdulaziz Ahmed Al Shamsi, general manager of Sharjah Real Estate Registration Department, said there were 25,601 ownership certificate transactions followed by 10,444 ownership deed transactions, with 2,289 initial sales contract transactions.

There were 1,457 mortgage transactions worth AED5 billion, a rise of 25 percent compared to last year while valuation transactions totalled 503.

Residential transactions accounted for the largest share, with 49.6 percent of the total, followed by commercial transactions (37.1 percent) and industrial transactions (11.1 percent).

SOURCE: Arabian Business