Sharjah Records $5.17 Billion in Real Estate Transactions for First Nine Months of 2023

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A recent report by the Sharjah Real Estate Registration Department reveals that the real estate sector in Sharjah has seen considerable growth. In the past nine months of 2023, the sector recorded over AED 19 billion in transactions with 59,258 transactions, indicating a growth rate of 14.6% compared to the same period in the previous year. Additionally, the value of mortgages amounted to AED 4.4 billion.

Abdulaziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department, highlighted the positive results, attributing them to Sharjah’s strategic location, diverse regions, legislative structure, and support for real estate registration services. The report also emphasized the diversity of nationalities among investors, with 97 nationalities participating in the real estate sector.

Sales transactions reached 6,342 transactions with a value of AED 7.9 billion, with the city of Sharjah accounting for the largest share. Usufruct sale transactions and initial sales contract transactions by real estate development companies also witnessed growth.

Residential properties constituted the largest share of transactions, representing 78.3% of the total number of transactions, followed by industrial, commercial, and agricultural properties. A total of 97 nationalities invested in Sharjah during this period.

The top nationalities engaged in real estate transactions in Sharjah include the UAE, Syria, India, Iraq, Jordan, Saudi Arabia, Egypt, and Kuwait.

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