Sharjah's real estate sector continues to demonstrate resilience, with February 2024 recording AED 3.1 billion worth of transactions, according to the latest report by the Sharjah Real Estate Registration Department. This positive performance signifies sustained growth within the emirate's property market, attracting a diverse range of investors.
The report, titled "Real Estate Transactions and Mortgages Movement," revealed a total of 4,458 transactions across various regions and cities in Sharjah. This activity encompassed a wide variety of properties, including residential units, commercial spaces, industrial plots, and agricultural land.
Breaking down the figures, sales transactions accounted for 1,048 deals, representing 23.5% of the total. This indicates a healthy appetite for property ownership within the emirate. Mortgages, meanwhile, played a role in 8% of transactions, with a total value of AED 581.4 million. These figures suggest a balanced market with a mix of outright purchases and financed acquisitions.
The remaining 68.5% of transactions, amounting to 3,055 deals, involved other types of real estate activities. This could include property rentals, leasing agreements, and land transfers. This level of activity highlights the dynamism of Sharjah's property market, catering to a range of investor needs and preferences.
Geographically, the sales transactions were spread across 101 locations throughout Sharjah, encompassing a total area of 8.7 million square feet. This demonstrates a well-distributed market with opportunities across various districts. The report highlights areas like Muwailih Commercial, Al-Khan, Al-Sajaa Industrial, and Al-Mamzar as particularly active in terms of trading volume.
Analysts attribute Sharjah's ongoing property market growth to several factors. The emirate's strategic location, offering proximity to Dubai, coupled with its reputation for a high quality of life, attracts investors seeking a blend of affordability and convenience. Additionally, the government's focus on infrastructure development and the creation of business-friendly zones further strengthens Sharjah's appeal as an investment destination.
Looking ahead, experts anticipate continued growth within Sharjah's real estate sector. The emirate's commitment to developing a diverse and sustainable economy is expected to generate further interest from local, regional, and international investors. As a result, Sharjah's property market is well-positioned to maintain its positive trajectory in the coming months and years.