We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 14 Apr 2020 02:11 PM

Font Size

- Aa +

Sharjah records $980m in property deals in Q1

Residential properties constitute the vast bulk of sales transactions in Sharjah in Q1

Sharjah records $980m in property deals in Q1

Sharjah recorded 18,537 real estate transactions totalling AED 3.6 billion ($980 million) in Q1 2020, according to a new report from the Sharjah Real Estate Registration Department (SRERD).

The transactions were recorded in 129 areas in the emirate, collectively covering 8.9 million square feet, according to Abdul Aziz Ahmed Al Shamsi, the director-general of the SRERD.

Additionally, 3,204 title deed transactions were recorded, as well as 883 initial sale contract transactions, 750 transactions mortgage deals, and 234 assessment transactions.

A total of 729 sales transactions – mostly in Sharjah City – were recorded, with a total value of AED 957.4 million.

Residential properties ranked first in the sales transactions in Q1 and constituted 69.5 percent of the total. These were followed by industrial properties (13.9 percent) and agricultural properties (3.3 percent).

Investors from 37 nationalities worldwide were involved in the reported real estate transactions.

Arabian Business: why we're going behind a paywall