UAE records Dh1.7 billion in real estate transactions for April in Sharjah

Omar Abbas - | Business

A notable uptick in real estate activity was revealed by the Sharjah Real Estate Registration Department in April, with a total of 1,632 deals totaling Dh1.7 billion.

This increase highlights both the emirate's continued development efforts and its attractiveness as an investment location. The significant surge in transactions indicates that the Sharjah real estate market is gaining traction. Let's now explore the details of these transactions and how they were distributed.

Sales transactions accounted for a notable portion, comprising 579 transactions, or 35.5% of the total. These transactions boasted a diverse array of properties, including residential, commercial, industrial, and agricultural lands. Among the sales, 253 were land transactions, 185 involved units in towers, and 141 transactions were for built-in lands.

Mortgage transactions, totaling 197, constituted 12.1% of the overall transactions. Despite being fewer in number, their cumulative value amounted to Dh402.2 million, signifying substantial investment activity within the market. The remaining transactions numbered 856, representing 52.4% of the total. These encompassed various facets of real estate dealings, further enriching the diversity and dynamism of Sharjah's property landscape.

Sharjah's varied urban and rural settings were covered by the 89 places where sales transactions were made. 527 sales transactions were recorded in the city of Sharjah alone. Among the locations, the busiest one was Muwailah Commercial, with 114 transactions, closely followed by Rawdat Al-Qart, Al Khan, and Hoshi.

Top-value transactions

In terms of value, Muwailah Commercial emerged as the frontrunner, boasting a trading volume of Dh168.4 million. Other notable regions include Al Saja’a Industrial, Tilal, and Hoshi, each contributing significantly to the overall transaction value. In the Eastern and Central regions, sales transactions totaled 50, with Al Madina Al Qasimia leading the pack with 18 transactions. This region also commanded the highest cash trading value, reaching Dh14.2 million.

Expanding Investment Horizons

The surge in real estate transactions during April not only reflects current market dynamics but also signals a broader trend of expanding investment horizons in Sharjah. Investors are increasingly drawn to the emirate's diverse portfolio of properties, which encompass residential, commercial, industrial, and agricultural assets. This diversity not only mitigates risk but also offers investors a wide range of opportunities to capitalize on various sectors within the real estate market.

Investor confidence is improving, as seen by the strong performance of Sharjah's real estate market in April. Because of its advantageous geographic location, aggressive government initiatives, and stable political climate, Sharjah has managed to draw investment despite uncertainty in the global economy. Sharjah is seen by investors as a secure refuge where they can profit from high returns and long-term value growth.

The increase in property deals is also consistent with Sharjah's continued focus on sustainable development. The emirate has put in place a number of programs targeted at improving social inclusion, environmental sustainability, and infrastructure. These programs not only improve the standard of living for locals, but they also foster an atmosphere that is favorable to investment, which propels the real estate industry's further expansion.

The real estate market in Sharjah is resilient and well-positioned for future expansion. The emirate is well-positioned to weather any economic setbacks and emerge as a top real estate investment destination in the area because of ongoing development projects, supportive government policies, and growing investor confidence. For years to come, Sharjah's real estate industry will continue to be a major force behind both sustainable growth and economic prosperity as it develops and advances.

About Author

Omar Abbas
Omar Abbas
132 Total posts


Read Also

Business
UAE reveals new regulations sparking concerns among cold callers

For Mohammed A, a Sri Lankan expat in Dubai, the prospect of a job wasn't just about employment; it was a chance at redemption.

Business
UAE: Banks introduce discounted financing rates for Golden Visa holders

Banks in the United Arab Emirates are rolling out the red carpet for Golden Residency holders, offering a suite of financial products tailored to meet their unique needs and preferences.

Business
Britain begins circulating banknotes bearing the image of King Charles

Wednesday saw the introduction of King Charles' portrait banknotes into circulation in Britain, almost two years after he succeeded the late Queen Elizabeth II.

Business
New York Stock Exchange says glitch that showed Berkshire Hathaway down has been resolved

A technical issue that forced trading for several large equities to halt and resulted in a 99.97% decline in Berkshire Hathaway's stock price was fixed, the New York Stock Exchange announced on Monday.

Business
Indian stocks decline amid poll expectations

Tuesday saw the biggest sell-off in Indian stocks in four years as the results of the vote counting indicated that the alliance led by Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) may not secure an overwhelming majority, as...

Business
UAE declares significant fuel price decrease for June 2024

Recently, news of lower fuel prices starting in June 2024 from the United Arab Emirates (UAE) grabbed headlines.

Business
Emirates Airlines announces the exclusion of Boeing 777X deliveries

Emirates Airlines, a leading global carrier, continues to navigate the dynamic aviation landscape with strategic decisions aimed at enhancing operational efficiency and customer satisfaction.

Business
Saudi Aramco’s $12 billion stock offer sells out in hours

The $12 billion share offering by Saudi Aramco was fully subscribed quickly after it opened on Sunday, which is good news for the government, which is looking to raise money to support a significant economic transformation plan.

Business
UAE announces an annual noon work ban to protect workers starting from this date

In a steadfast commitment to safeguarding worker health and well-being, the Ministry of Human Resources and Emiratization of the United Arab Emirates (UAE) has reinstated its annual noon work ban.

Business
UAE, Qatar sign agreement to prevent double taxation

The United Arab Emirates and Qatar have recently entered into an agreement aimed at preventing double taxation and combating fiscal evasion of income taxes.

Business
Abu Dhabi Chamber unveils UAE Digital Commerce and Innovation Growth Plans

A study showcasing the substantial expansion and promise of digital commerce in the United Arab Emirates was released by the Ministry of Economy and the Abu Dhabi Chamber.

Business
UAE Cybersecurity unveils strategies for secure remote work

The UAE Government Cybersecurity Council is sounding the alarm on the pressing need to fortify remote work environments.

Business
Dubai World Trade Center unveils the Work-from-Home License Initiative

Dubai World Trade Center (DWTC) has introduced commercial license packages tailored for remote work within "Expo Village," situated in the vibrant Expo City of Dubai.

Business
UAE President announces his visit to China on this date

The UAE President, Sheikh Mohamed bin Zayed Al Nahyan, is scheduled to undertake a significant state visit to the People’s Republic of China, beginning on Thursday, May 30.

Business
Emirates unveils a codeshare agreement with Avianca for expanded connectivity

Emirates, the esteemed Dubai-based airline renowned for its global reach, has embarked on a new venture in partnership with Avianca, a prominent Latin-American carrier.

Business
UAE unveils the deadline date for emiratisation targets in private firms

Reminders on the deadline for enterprises with 50 or more employees to complete their Emiratization aim by June 30 were sent out by the UAE Ministry of Human Resources and Emiratization (Mohre) on Tuesday.

Business
UAE warns against fake job ads in educational institutions

In the UAE, there has been a concerning increase in fake job advertisements on websites and social media platforms, falsely promoting employment opportunities in schools and universities.

Business
UAE launches Blue Residency Visa to Champion Sustainability

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, announced the initiation of a special visa, recognizing outstanding contributions to environmental sustainability.

Business
UAE: Your Step-by-Step Guide for Residency Renewal

The General Directorate of Residency and Foreign Affairs in the United Arab Emirates (UAE) has announced adjustments to the residence and renewal fees, affecting both locals and foreign nationals residing in the country.

Business
"Emirates Insurance" guarantees compensation for car agencies damage claims

The Emirates Insurance Federation announced that insurance companies are cooperating fully and are committed to compensating for damages sustained by car agencies according to the terms of their contracts.

Dubai Police reveals the steps for filing complaints against workplace insults