Sharjah recorded 14,974 real estate transactions worth Dh4.2 billion ($1.14 billion) during the third quarter (Q3) of 2019, as against 11,393 property deals during Q3 2018, said the Sharjah Real Estate Registration Department (SRERD).
“Figures reflect a significant rise of 31.4 per cent in the number of transactions recorded in the third quarter of 2019 as compared to the same period in 2018,” Abdulaziz Ahmed Al Shamsi, director-general of SRERD was quoted as saying by state news agency Wam.
“The real estate transactions included 646 in sales, 1,453 in initial sale contracts and 210 in evaluations. These are added to 694 mortgages transactions which are valued at about Dh1.8 billion," he added.
Most of the real estate transactions were recorded in Sharjah city branch, which constituted 96.9 per cent of the total transaction value recorded in the third quarter of 2019.
Most of the "Sales" transactions were recorded in Al Khan area with 127 transactions, while the highest transaction value worth Dh253 million, was recorded for the Muwaileh Commercial Area.
"The other branches recorded 3.1 per cent from the total real estate transaction value reported. These recorded 1.2 per cent at Al Dhaid, 1.1 per cent at Khor Fakkan, and 0.8 per cent at Kalba branch,” said Al Shamsi.
Residential properties ranked first in terms of "Sales" transactions, constituting 64.4 per cent of the total transactions recorded. These were followed by industrial properties (17.9 per cent), commercial properties (13.8 per cent), and agricultural properties (3.9 per cent).
Investors from 41 nationalities worldwide have invested in the real estate sector in Sharjah during the third quarter of 2019.
"GCC nationals’ real estate investments in the Emirate of Sharjah recorded around Dh3.5 billion, while the real estate investments of other nationalities valued at about Dh700 million,” Al Shamsi concluded.