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Thu 22 Mar 2018 02:01 PM

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Sharjah real estate deals rise 20% to $8.1bn in 2017

Emirate's real estate regulator expresses satisfaction with the performance of the sector

Sharjah real estate deals rise 20% to $8.1bn in 2017

The total value of real estate transactions in Sharjah grew by 20.3 percent in 2017 to AED29.8 billion ($8.1 billion), according to official figures.

Statistics released by Sharjah Real Estate Registration Department (SRERD) showed that the value of property deals in the emirate rose from AED 24.7 billion the previous year.

The emirate's real estate regulator expressed satisfaction with the performance of the sector, which it said is growing steadily year after year, state news agency WAM reported on Thursday.

UAE citizens dominated deals in Sharjah's property sector with 10,108 out of a total of 10,865 transactions by GCC citizens in 2017.

Ownership certificates numbered 12,481 in 2017 while mortgage transactions stood at 3,005.

A number of large-scale projects in various stages of development have boosted the availability of both off-plan sales and sales of completed residential units in Sharjah, WAM added.