In 2023, Sharjah Real Estate will conduct more than 59,000 transactions with investors from 97 different nations.
According to a data released by the Sharjah Real Estate Registration Department, the value of real estate transactions in Sharjah during the first nine months of the year was AED19 billion ($5.2 billion).
The overall number of transactions was 59,258 with a growth rate of 14.6% over the same time previous year.
In addition, mortgages were worth AED4.4 billion ($1.2 billion).
Sharjah property
With a growth rate of 18.9%, there were 6,342 sales transactions throughout the emirate’s various regions during the same time period, totaling AED7.9 billion ($2.2 billion) and 59.4 million square feet of tradeable space.
The majority was accounted for by the city of Sharjah, where 5,734 transactions totaling AED7.5 billion ($2 billion) were carried out at 114 locations.
Muwailih Commercial Area, which saw 1,164 transactions totaling more than AED1.5 billion ($408 million), came in first place among these locations, followed by Muzaira’a, Al Khan, and Hoshi.
Usufruct Sale transactions totaled 549 and had a value of AED736 million ($200 million).
Additionally, the Tilal area saw the most transactions, with 183, for a total value of AED136.5m ($43m).
AED258.6m ($70m) from 146 trades, or the greatest share in terms of trading value, went to the Muwailih Commercial sector.
A total of 4,200 initial sales contract transactions were completed by real estate development businesses in the emirate over the same time, representing a growth rate of 34.3% from the same period the previous year. This surge can be attributed to the increasing interest in Sharjah’s freehold properties.
Organizing sales transactions by property type revealed:
- 4,968 residential units, or 78.3 percent
- 653 properties in the industrial sector, or 10.3%
- Commercial properties total 618, at a 9.8% rate.
- 103 properties, or 1.6%, are in agriculture.
There were 6,342 total properties exchanged in Sharjah, with residential lands accounting for the majority (1,988) of those, followed by residential apartments (1,944) and residential built-in lands (714).
During the first nine months of the year, Sharjah attracted investors from 97 different nationalities.
United Arab Emirates nationals made investments totaling AED 11.1 billion in 15,857 properties.
In addition, Gulf Cooperation Council (GCC) nationals invested AED 1.1 billion in 952 properties, excluding Emiratis.
Arab nationals invested AED3 billion, or $3,166 million, in 3,166 properties, whereas foreign nationals invested AED3.8 billion, or $3,290 million, in 2,290 properties.
The top nationalities that traded in Sharjah are, in order, as follows:
- UAE has 15,857 homes.
- Syria has 955 residences.
- India has 922 residences.
- Iraq has 410 buildings.
- Jordan has 398 homes.
- Saudi Arabia has 390 homes.
- Egypt has 388 residences.
- Kuwait has 345 homes.
The Sharjah Real Estate Registration Department’s Director General, Abdulaziz Ahmed Al-Shamsi, stated: “The strong and rising positive results in this sector in Sharjah indicate a promising future for real estate investment that meets the requirements of the next stage and accommodates the needs of urban development in the emirate, especially with the population growth and the ongoing introduction of significant real estate projects in a variety of cities and regions of Sharjah, which are all expected to have positive outcomes.
The distinctive strategic location of Sharjah and the diversity of its regions, which include coastal, land, and mountainous elements, as well as the strength and durability of the legislative structure guaranteeing the rights of investors, owners, brokers, and developers, in an environment supported by innovative and cutting-edge real estate registration ser
According to Al Shamsi, there are now 97 different nationalities represented among investors in the emirate’s real estate market.
Invest in Sharjah’s Flourishing Real Estate Market
Sharjah’s real estate sector has showcased impressive growth, attracting investors from around the globe. With a robust increase in transactions, diverse property types, and a welcoming environment for investors of 97 different nationalities, now is the opportune moment to be part of this thriving market.
Don’t miss out on this golden opportunity to invest in a market that promises substantial returns and a bright future. Dive into Sharjah’s real estate today and secure your future!
