Sharjah Real Estate Market Attracts 94 Nationalities in First Quarter of 2024

Sharjah, UAE: The real estate market in Sharjah has seen a significant boost in the first quarter of 2024, with a total of 94 nationalities investing in the emirate. According to the Sharjah Real Estate Registration Department, property transactions in the emirate reached Dh10 billion, marking a 67.1% increase from the same period last year.

Emiratis topped the list in terms of volume of transactions, with 7,628 properties, followed by Indians, Syrians, Pakistanis, and Jordanians. In terms of value, UAE citizens accounted for Dh4.4 billion of investments, while GCC citizens and Arab citizens invested Dh625.5 million and Dh2.1 billion respectively.

The total number of transactions reached 23,478, with a growth rate of 9.3% compared to the same period last year, covering 28.3 million square feet of area traded.

Abdul Aziz Ahmed Al-Shamsi, director-general of the Sharjah Real Estate Registration Department, highlighted the government’s role in supporting the real estate sector and attracting investments. He mentioned the diverse real estate projects launched by the government, participation in events like the Sharjah Real Estate Exhibition (ACRES), and the continuous efforts to revitalize the market.

The city of Sharjah witnessed the highest number of transactions, with 2,514 transactions valued at Dh3.3 billion. The Muwaileh Commercial area recorded the highest sales transactions, followed by Rawdat Al-Qart, Al-Mazairah, and Al-Khan.

Overall, mortgage transactions in Sharjah during the first quarter of 2024 amounted to 976, with a total value of Dh2.2 billion, indicating a 13.1% increase from the previous year.

With a diverse range of investors and a thriving real estate market, Sharjah continues to establish itself as a prominent investment destination in the region.