Sharjah sees nearly $4bn property deals so far in 2018

Sharjah Real Estate Registration Directorate says 43 nationalities involved in deals spanning 13,100 properties
Sharjah sees nearly $4bn property deals so far in 2018
Deals covered 40 million square feet at 171 different areas in Sharjah, while the mortgages transactions amounted to AED8.8 billion.
By Sam Bridge
Fri 23 Nov 2018 10:57 AM

Sharjah Real Estate Registration Directorate (SRED) has revealed that property transactions reached AED14.6 billion ($3.97 billion) in the emirate in the first nine months of 2018.

Investors from 43 nationalities worldwide were involved in the deals spanning 13,100 properties in Sharjah, a statement said.

It added that GCC nationals came on the top with investment in 11,763 properties, worth AED12.6 billion.

The latest report of the Sharjah Real Estate Registration Directorate showed that the deals covered 40 million square feet at 171 different areas, while the mortgages transactions amounted to AED8.8 billion.

Abdul Aziz Ahmed Al Shamsi, director general of the Sharjah Real Estate Registration Directorate, said 37,748 real estate transactions were registered in Sharjah last year.

“The 40,028 transactions recorded until the end of September registered a growth of 6 percent as compared to those real estate transactions processed last year.”

Al Shamsi added that this growth is due to the lucrative incentives and big investment opportunities offered.

The 40,028 transactions registered in the first nine months included 11,747 title deed transactions, 2,436 mortgage transactions, and 28,845 other transactions.

Residential properties ranked first in terms of sales transactions, accounting for 67.9 percent of the total, followed by commercial properties which stood at 18 percent, 11.8 percent for industrial properties, and 2.3 percent for agricultural properties.

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