Real estate transactions in Sharjah amounted to Dh16.6 billion in the first nine months of 2022, data showed on Thursday.
According to a report by the Sharjah Real Estate Registration Department (SRERD), 65,314 transactions were carried out in total across the emirate during the period.
“The real estate market in the Emirate of Sharjah has achieved an upward recovery and positive growth in sales transactions during the first three quarters of 2022, in addition to the launch of new real estate projects. Despite the continued volatility of international oil prices and its impact on the business sector, real estate remains a steady economic component, capable of self-sustaining business activities, vitality, and attractiveness by businessmen and investors,” said Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department.
March was the strongest month with trading volume at Dh2.7 billion, followed by August at Dh2 billion, and June at Dh1.97 billion.
According to the report, 96.5 per cent of the total trading value was witnessed by the main branch in Sharjah, with an amount of Dh16 billion. The remainder of the 3.5 per cent of the total trading value, amounting to nearly Dh600 million, was distributed across the four branches - Central Region, Khorfakkan, Dibba Al Hisn, and Kalba.
In terms of transactions, 38,902 were carried out in Sharjah, 8,635 in Khorfakkan, 7,563 in Kalba, 5,560 in Dibba Al Hisn, and 4,654 in the Central Region.
Ten new real estate projects were registered during the first nine months across the emirate. These were divided into pure residential complexes, residential projects, commercial projects and other combined residential-commercial projects.
Investors from 79 countries
Investors from 79 nationalities traded on 20,280 properties during the period, of which 731 properties were sold through usufruct transactions.
The value of Gulf nationalities’ investments amounted to Dh12.2 billion through 17,337 properties traded by 9,696 Gulf investors. Investments of other nationalities amounted to Dh4.4 billion through 2,752 properties and 2,540 investors.