After Dubai, Sharjah is emerging as a preferred destination for property investors, with the emirate recording 2,999 real estate transactions worth AED2 billion in January 2023.
The property deals in January included 673 sale transactions, 250 mortgages and 2,076 other transactions, according to the monthly report published by Sharjah Real Estate Registration Department (SRERD).
Transactions classification
The department’s statistics showed that sales took place in 93 areas across various cities and regions of Sharjah, while the total area of traded real estate reached 4.3 million square feet, including residential, commercial, industrial, and agricultural lands.
The types of traded real estate included 162 lands, and 245 lands with constructions.
In addition, the number of units sold in towers reached 266.
Areas with the highest number of sales
The report showed that Muwaileh Commercial topped the list of areas with the highest number of real estate sales with 136 transactions, followed by Al Rigaibah with 84, Al Khan with 60, then Hoshi area with 49.
As for the highest traded areas in value terms, Al Khan topped the list with a turnover of AED266.2 million, followed by Al Rigaibah and Muwaileh commercial areas, both with the same total trading value of AED106.4 million, followed by Al Sajaa industrial area with AED69.6 million.
In the central region, the sales transactions were concentrated in Al Thumama with six transactions, and Al Qasimia area with five.
As for the city of Kalba, Kalba industrial area took the lead with six sales transactions, while Suhaila 31 area recorded AED1.6 million worth transactions, the highest in terms of trading volume.
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