Sharjah real estate transactions totaled $735 million in November

sharjah

A research claims that the value of real estate transactions in the Emirate of Sharjah climbed from AED1.9 billion in October to AED2.7 billion ($735 million) in November.

650 of the 2,813 real estate transactions performed during that time were sales, accounting for 23.1% of all transactions, according to a data from the Sharjah Real Estate Registration Department (SRERD).

A total of 322 mortgage deals were completed, accounting for 11.4% of the AED921 million in total sales. A variety of real estate transactions made up the remaining 1,841 transactions, or the remaining 65.5 percent of the total.

The study found that sales in Sharjah’s real estate sector covered a total of 13.3 million square feet over 99 locations. Real estate for homes, businesses, industries, and farms was all traded.

There were 265 subdivided tower deals completed, accounting for 40.8 percent of all sale transactions. 194 sales involving vacant land made up 29.8% of the total, while 191 transactions involving built-up property made up 29.4% of the total.

According to the survey, Sharjah’s Muwailih Commercial area saw 151 transactions during November, followed by the Hoshi and Al Khan sectors, which saw 71 transactions each, and Al Majaz 3 with 48 transactions.

Seven transactions worth AED79.3 million took place in the Al Blelaida district in the Emirate of Sharjah’s central region. Following the Al Taiba 1 zone, which had five transactions totaling AED5.6 million, the Seh Al Sadah region saw four transactions with a total value of AED2.8 million.

While four transactions worth AED6.9 million and a similar amount of selling were the majority of the deals in Khorfakkan’s Al Mudeife area, two transactions were reported in the Al Loleya district.

In contrast to Sur Kalba’s commercial and industrial zones, which each recorded two transactions, the Al Saf sector in Kalba recorded four transactions.

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