Sharjah’s official news agency WAM has reported that Sharjah has made record breaking real estate transactions in 2019. All the real estate transactions in 2019 valued in at Dhs 24.2 bn. When compared to the transactions in 2018, the amount is up by 7.3 per cent.
The Sharjah Real Estate Registration Department (SRERD) has released a statement about the same. The statement shares that a total of 61,357 transactions were recorded in the year of 2019 overall, thus rising 13.4 per cent in comparison to 2018.
Out of all the property categories, Residential properties topped the sales category. Meaning most of the properties bought were in residency category. The residential properties sale constituted 69.4 % of total sales transactions in Sharjah. This was followed by commercial properties (15.9%), industrial (11.8 %) and agricultural (2.9 %).
The areas that made the maximum sale included the Muwaileh Commercial, Al Khan, Al Nahda and Hoshi areas. 11,535 title deeds transactions worth Dhs 9.6 bn, 3,760 mortgage transactions worth Dhs 14.6 bn, 963 valuation transactions, and 5,272 initial sales transactions were recorded majorly at these areas of Sharjah.
Abdulaziz Ahmed Al Shamsi, SRERD director-general said that the records show that the other 15 areas made close to 117 sales transactions totaling Dhs 73.4 m. These areas include the areas of Khor Fakkan, mainly in Al Harai’s industrial and commercial areas.
The central region of Sharjah consisting of 39 commercial area recorded 114 sales transactions that were worth Dhs 103 m. And the Kalba city’s 21 areas made in total 110 sales transactions worth Dhs 49.3 m. These sales were made predominantly in the industrial areas of Kalba and Al Saf.
Al Shamsi also revealed that last year the maximum real estate sales transactions recorded were in Muwaileh Commercial Area where 567 dealings made Dhs 1.2 bn.