The UAE emirate of Sharjah has recorded around AED11.2 billion ($2.99 billion) real estate transactions in the first six months of 2021, government data showed.
Sales contributed AED4.1 billion to the total value, while usufruct transactions and mortgages were at AED243 million and AED5.3 billion respectively, according to the Sharjah Real Estate Registration Department (SRERD).
Real estate investments in Sharjah came from 75 different nationalities, the regulator said, while Gulf nationals dominated the mix with 84.8 percent of total number of properties traded.
“The real estate sector in Sharjah continues to improve at an accelerating pace, taking advantage of the competitive opportunities enjoyed by investors despite any challenges, mainly due to the increase in the volume and number of transactions in the residential sector,” SRERD director Abdulaziz Rashid Al Saleh said.
The launch of several major real estate development projects motivated investors to conduct real estate deals, he added, as the emirate promotes these projects as a “haven for investments in light of the relative increase in inflation rates.”
March led the first half of trading volume with a total of AED2.7 billion, followed by June with a total of AED2 billion, and February with a total of AED1.9 billion.
The sales transactions were more noticeable in 10 areas, including Muwaileh Commercial, Al-Khan, Hoshi, Al Majaz 3, AlRigaibah, Al Sajaa Industrial, Rodhat Al Qrt, Al Majaz 2, Al Nahda, and Muzaira’a.
Muwaileh Commercial, located near the Sharjah-Dubai border, saw sales transactions worth AED736 million dirhams across 716 units – or 23.7 percent of Sharjah city’s total sales transactions.
Follow us on
