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SHARJAH / WAM
The real estate sector in Sharjah achieved a trading value of AED13.4 billion during the first half of 2023, with an increase of 19.2 percent compared to the same period last year. According to the semi-annual report issued by the Sharjah Real Estate Registration Department on the real estate in the emirate, there were 40,843 transactions in the first half of 2023, and the value of real estate mortgages amounted to AED4.1 billion.
Abdulaziz Ahmed Al-Shamsi, Director-General of Sharjah dex Estate Registration Department, said, “The real estate sector in Sharjah continues to be one of the most important economic pillars in the emirate and it continues to accumulate achievements and overcome challenges thanks to the great support of our wise government led by HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Executive Council of Sharjah, and their keenness to support the growth of this vital sector, and ensure its ability to overcome all circumstances.â€
He also highlighted the success of the real estate sector in Sharjah in attracting investors from 88 different nationalities during H1 thanks to the incentives and facilities adopted by the government during the last period.
Sales Transactions by Regions
The total area traded in Sales transactions during the first half of this year was 43 million square feet.
Moreover, the number of Sales transactions in the various regions of the emirate during H1 2023 reached 4,187 transactions, with a value of AED5.7 billion. The city of Sharjah accounted for the largest share of the transactions, with 3,794 transactions which took place in 106 areas, and with a total value of AED5.4 billion. Muwaileh Commercial area, Mezair’ah, Al-Khan, and Hoshi areas topped the list in Sharjah city. As for the Benefit Sale transactions, they reached 355, with a total value of AED497 million.
Residential transactions continue to lead
By classifying sales transactions according to the type of property, residential real estate transactions acquired the largest share, with 3,332 transactions, representing 79.6 percent of the total number of transactions. Next, industrial real estate recorded 410 transactions, representing 9.8 percent, followed by commercial real estate with 373 transactions, representing 8.9 percent, while agricultural real estate ranked fourth with 72 transactions, representing 1.7 percent of the total number of transactions.
In terms of the number of traded properties, the total number of properties traded in Sharjah reached 4,187 properties. The Residential Lands topped with 1,327 properties, followed by the Residential Apartments with 1,293 properties, then by the Residential Built-in Lands with 498 properties.
Investors from 88 nationalities
In terms of investors, 88 nationalities invested in Sharjah during H1 2023. The number of Emirati investors reached 7,033, and the number of Gulf countries’ investors reached 525. Moreover, the number of Arab investors reached 1,824, and the number of investors from other countries reached 1,278.
The total investment of Emirati investors amounted to AED8.8 billion with 10,877 properties, and the total investment of GCC investors, excluding Emiratis, reached AED 697.9 million with 672 properties. As for the investment of Arabs, it amounted to AED2 billion with 2,023 properties, while the total investment of investors from other countries was AED2 billion, with 1,181 properties.
As for the highest nationalities which traded in Sharjah, they were, respectively: UAE nationals with 10,877 properties, Syria with 633, India with 473, Saudi Arabia with 302, Jordan with 282, and Iraq with 248 Real Estate.