UAE: Real estate transactions climb to Dh1.9 billion in September

The traded properties included residential, commercial, industrial, and agricultural lands, and cover a total area of more than 3.9 million sq ft

By Web Desk

Published: Tue 11 Oct 2022, 3:08 PM

Last updated: Tue 11 Oct 2022, 3:14 PM

A monthly report issued by the Sharjah Real Estate Registration Department (SRERD) has revealed that a total of 2,299 real estate transactions conducted during the month of September had a real estate trading value worth Dh1.9 billion. Real estate sales transactions across various regions of the Emirate of Sharjah amounted to 677 of the total transactions.

2,299 transactions executed

The data reported from the Sharjah Real Estate Registration Department during the past month showed 2,299 real estate transactions of various types. These are including 677 sales transactions representing 29.4 per cent of the total executed transactions, and 299 mortgage transactions representing 13.1 per cent of the total transactions, valued at Dh608 million. Other miscellaneous transactions accounted for the remaining 57.5 per cent of the total, reported at 1,323 transactions.

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Real estate sales transactions across 90 areas in Sharjah

The reported data highlighted that sales transactions were distributed across 90 areas in various regions and cities of the Emirate of Sharjah.

The traded properties included residential, commercial, industrial, and agricultural lands, covering a total area of more than 3.9 million square feet.

These included 297 transactions of units sold in towers, representing the largest percentage of the total transactions at 43.9 per cent, followed by land transactions with 198 transactions representing 29.2 per cent – while built lands witnessed 182 transactions, representing 26.9 per cent of the total.

Muwaileh Commercial: highest in trades

According to reported data, Muwaileh Commercial recorded 172 sales transactions, maintaining a lead in the list of the ‘most traded areas of Sharjah city.’ Meanwhile, the Al Khan area witnessed the registration of 78 transactions, and the Al Rigayba area reported 41 transactions, followed by Um Fanain with 38 transactions.

Monetary trading value across Sharjah City was also topped by Muwaileh Commercial, with a total trading value of Dh164.9 million. This was followed by the Um Fanain area which recorded transactions with a total value of Dh76.7 million, and then Al Nahda with a value of Dh52.3 million. Finally, Al Rifaah reported a total of Dh52 million.

In the central region, sales transactions were distributed mainly to the commercial area of Al Madam, Al Faw Agricultural, Suhaila 3, and Al Madam Industrial, with a total of 7 sales transactions in these areas. As far as the highest areas in terms of monetary value as concerned, Al Madam Commercial recorded the highest trading value of Dh3 million, followed by the Al Belaida area with a total of Dh2.7 million, while the Refada area recorded real estate deals worth Dh2.5 million. Al Faw Agricultural deals recorded Dh1.6 million.

Regarding sales transactions carried out in the city of Khorfakkan, Al Zubara and Al Haray industrial areas, Al Baradi 2, and Al Mudeife came first for the number of trades, with a total of 10 transactions. In the case of the highest areas in real estate trading value, the Al Mudeife area acquired transactions worth Dh1.8 million.

This was followed by the Al Loleya area with a value worth Dh1.5 million, Al Baradi 2 with a value of Dh1.2 million, and the Al Zubara Industrial Area with Dh899,000.

In the city of Kalba, the commercial area of Soor Kalba, the area Industrial Kalba, and Al Saaf recorded 12 sales transactions. The Al Baraha area witnessed the highest trading value of Dh3.5 million, followed by Hay AlKala, with a value of Dh3.2 million. This was followed by the Industrial area with a value of Dh2.9 million, and finally, the Al Ghail area with a recorded trading value of Dh1.8 million.

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