Sharjah's real estate trading value reaches Dh18.2 billion in H1 2024

The value of real estate trade in the emirate of Sharjah increased by 35.6 per cent during the first half of 2024, compared to the same period in 2023, data showed on Tuesday.

According to the semi-annual report on the real estate sector issued by Sharjah Real Estate Registration Department, the sector was valued at Dh18.2 billion. This is mainly due to the increase in sales transactions, recording 10,809 transactions compared to 6,592 recorded during the same period last year.

The real estate trade in H1 this year is the highest compared to similar periods since 2012 due to the leaps of development that the emirate has witnessed in recent years attracting the interest of investors and buyers and enhancing their confidence in the emirate’s property market, in addition to the various advantages that are unique to Sharjah.

The report reveals a number of positive indicators and shows that real estate transactions in the emirate this year have surged by 13.8 per cent. The total number of transactions executed during H1 2024 is 46,524, compared to 40,876 in H1 2023.

The various real estate transactions recorded by the department include ownership certificate transactions, initial sales contracts, ownership deeds, mortgages and valuations.

Abdulaziz Ahmed Al Shamsi, director-general of the Sharjah Real Estate Registration Department, emphasised that the remarkable qualitative developments recorded by the real estate sector are an essential part of the comprehensive and continuous economic growth scene in the emirate, and they also clearly reflect the success of the strategic plans that lead the various economic and investment sectors.

Al Shamsi noted that Sharjah is moving towards consolidating its economic position through its diversified economy based on providing an attractive investment environment, establishing a solid legislative framework that protects rights and enhances investor confidence, in addition to launching sustainable development projects, and escalating urban development projects in various residential, commercial, industrial and agricultural fields.

The different regions of the emirate recorded 5,426 real estate sales transactions, covering 55.1 million square feet and involving 192 areas.

UAE citizens led the list of nationalities investing in the emirate with 17,390 properties, followed by Indians with 1,138 properties, Syrians with 785 properties, Iraqis with 491 properties, Egyptians with 411 properties, and Jordanians with 394 properties.