Sharjah records $4 billion in real estate transactions during first 9 months of 2022

The report showed that a total of 65,314 transactions took place in the emirate, during the period.

“The real estate market in the Emirate of Sharjah has achieved an upward recovery and positive growth in sales transactions during the first three quarters of 2022, in addition to the launch of new real estate projects,” SRERD’s director-general Abdul Aziz Ahmed Al Shamsi said.

Al Shamsi added: “Despite the continued volatility of international oil prices and its impact on the business sector, real estate remains a steady economic component, capable of self-sustaining business activities, vitality, and attractiveness by businessmen and investors.”

The month of March showed a high trading volume of AED2.7 billion, followed by August at AED2 billion, and June at AED1.97 billion.

The main branch in Sharjah saw about 96.5 percent of the total trading value with a total value of AED16 billion, the report said, adding the remaining 3.5 percent of the total trading value reached AED600 million, which was distributed across Sharjah’s Central Region, Khorfakkan, Dibba Al Hisn, and Kalba.

There were 38,902 transactions in Sharjah, followed by 8,635 transactions in Khorfakkan, 7,563 transactions in Kalba, 5,560 transactions in Dibba Al Hisn, and 4,654 transactions in the Central Region.

Additionally, the emirate saw ten new real estate projects registered during the first nine months. These projects were divided into pure residential complexes, residential projects, commercial projects and other combined residential-commercial projects.

Investors across 79 nationalities also traded on 20,280 properties during the first nine months, from which 731 properties were sold as usufruct transactions.

Investments from Gulf nationalities totalled AED12.2 billion through 17,337 properties transacted by 9,696 Gulf investors. Investments from other nationalities were valued at AED4.4 billion through 2,752 properties and 2,540 investors.