Sharjah real estate transactions up nearly 65% at Dh2.8billion

Sharjah: Sharjah recorded real estate transactions worth Dh2.8 billion in April, compared to the Dh1.7 billion recorded last month, a 64.7 per cent jump, according to the ‘Real Estate Transactions Movement Report’ issued by Sharjah Real Estate Registration Department (SRERD).

In April, the SRERD said it conducted 2,614 real estate transactions. Of these, 19.3 per cent were sales transactions with 504 deals, and 22.4 per cent were mortgage transactions with a total value of Dh1.7 billion dirhams. The rest of the transactions (58.3 per cent) were classified as other real estate transactions, totalling 1,525 deals.

The growth has been credited to continued activities in major real estate development companies in Sharjah. The report also revealed that the real estate market sales covered a total area of 4.6 million square feet, distributed over 62 areas in various regions of the emirate of Sharjah.

Al-Layah area is the most active in terms of monetary value, with a trading volume of Dh414.7 million, followed by Muwaileh commercial area with a trading value of Dh180.9 million, Mezair’ah area with a trading volume of Dh32.7 million, then Industrial Area 12 with a trading value of Dh29 million.