Sharjah Real Estate Market Soars with AED3.1 Billion in Transactions in February 2024

The real estate market in Sharjah is on fire, with a whopping $844 million in transactions recorded in February 2024. According to the latest Real Estate Transactions and Mortgages Movement report released by the Sharjah Real Estate Registration Department, a total of 4,458 real estate transactions took place, showcasing the emirate’s robust performance in the real estate sector.

The continuous growth and prosperity of the real estate sector in Sharjah have attracted a diverse range of local, Arab, and international funds and investments for development projects. Investors have reaped high returns on their investments, thanks to the government’s unwavering support and incentives provided to real estate developers and entrepreneurs.

Out of the total transactions conducted in February, sales transactions accounted for 23.5%, mortgage transactions for 8%, and other types of real estate transactions for 68.5%. The sold properties included residential, commercial, industrial, and agricultural lands, covering a total area of 8.7 million square feet.

The top-performing areas for sales transactions were “Muwailih Commercial,” with 213 transactions and a trading volume of AED382 million, followed by “Rawdat Al-Qart,” “Al-Mazairah,” and “Al-Khan” areas. The Central Region, city of Khor Fakkan, and Kalba also saw significant real estate activity, with high transaction numbers and trading volumes.

The success of the real estate market in Sharjah reflects the booming economy and growing investor confidence in the emirate’s development projects. With a slew of incentives and support from the government, the real estate sector is poised for further growth and prosperity in the coming months.