Sharjah saw real estate transactions of AED 2 billion in August

  • 2 years ago
  • News
  • 0

The Emirate of Sharjah carried out real estate transactions of AED 2 billion in August 2022, according to the monthly data from the Sharjah Real Estate Registration Department. (SRERD).

The (SRERD) completed 2,409 transactions throughout the course of the previous month, with 747 of those transactions, or 31% of the total, being sales transactions. More than AED 710 million was spent on 303 mortgage deals, representing 12.6% of all transactions. The remaining transactions were 1,359 other transactions, or 56.4 percent of the total.

6.3 million square feet of residential, commercial, industrial, and agricultural properties were among the real estate that changed hands in the 98 areas of the emirate of Sharjah.

The various real estate kinds were made up of 160 lands, which accounted for 21.4 percent of the total, 254 built lands, which represented 34 percent, and 333 subdivided tower trades, which accounted for 44.6 percent.

According to the survey’s findings, the Al Khan(Sharjah) neighborhood came in second with 104 transactions, followed by Al Rigaibah with 39 and Mazairah with 36. Muwaileh Commercial took the top spot with 213 transactions.

The Al Khan neighborhood came in first with a total trading value of AED 105.9 million, followed by the Al Nahda area with AED 63.8 million, the Al Rigaibah area with AED 54.6 million, and Muwailih Commercial with AED 187.4 million.

15 of the sales deals in the central region were conducted by Al Yafer2, Al Qasimia City, Al Taybeh 2, and New Industrial Area Magdh together. Al Weshah 1 was purchased for AED 1.6 million after Al Yafer 2 for AED 6.4 million. Real estate transactions of AED 1 million were noticed by Al Khatm and Al Owaid.

The top 4 commercial locations in Khorfakkan, with a total of 10 transactions, were Al Harrai, Al Bardi1, Al Harrai Industrial area, and Al Lulayyah. Al Lulayyah had the most transactions with a value of AED 2.4 million, followed by the Al Qadisiyah neighborhood with a value of AED 2 million. Al Yarmouk reported AED 1.1 million in transactions, while Al Harrai Commercial reported AED 951,000.

In the city of Kalba, 10 real estate transactions were completed in the commercial districts of Sur Kalba, Al Bardi, and Kalba Industrial. The Al Khuwair region saw the largest transaction volume, worth AED 2.2 million in total. Suhaila 31 area came in second with a value of AED 1.2 million, behind Al Bardi with a value of AED 1.4 million. AED 1.1 million was registered in the Al Rigaibah region.

Join The Discussion

Compare listings