Sharjah skyline
Sharjah skyline Image Credit: Gulf News archives

Dubai: Real estate transactions totalled Dh5.2 billion in Sharjah in the first three months, according to the Sharjah Real Estate Registration Directorate (SRERD).

In all, 31 nationalities were involved in 13,195 transactions. “The federal and local laws that encourage investment has helped stabilise real estate investment nationwide despite ongoing challenges,” said Abdul Aziz Ahmad Al Shamsi, Director-General of the real estate entity.

Most of the deals were recorded within Sharjah City, led by Muwailah Commercial area, Al Khan, Al Nahda, Hushi, as well as Al Majaz-3. The highest deals, valued at Dh2.2 billion, were in February against Dh1.7 billion in March and Dh1.3 billion in January. Residential properties ranked first in sales deals, followed by commercial, industrial and agricultural properties. There were 996 mortgage transactions, worth Dh2.97 billion, during the period.