AED11.2 bn worth of Real Estate transactions in Sharjah 2022

AED11.2 bn worth of Real Estate transactions in Sharjah 2022

SHARJAH, 27th July, 2022 (WAM) -- The semi-annual report issued by the Sharjah Real Estate Registration Department (SRERD) revealed that the value of real estate trading during the first six months of 2022 amounted to AED 11.2 billion.

The total number of sales transactions amounted to 3,327, with a total value of AED4.1 billion, of which AED3.9 billion were in the city of Sharjah alone. The sale of usufruct transactions amounted to 141 worth AED243 million, while mortgages recorded a value of AED5.3 billion. Investors from 75 different nationalities executed real estate deals during this period.

Abdulaziz Rashid Al Saleh, Director of the Sharjah Real Estate Registration Department, said, "The real estate sector in Sharjah continues to improve at an accelerating pace, taking advantage of the competitive opportunities enjoyed by investors despite any challenges, mainly due to the increase in the volume and number of transactions in the residential sector, as well as the launch of a number of major real estate development projects, which motivates investors to expand the transactions and conduct real estate deals, considering real estate the safest and most appropriate haven for their investments in light of the relative increase in inflation rates."

Reflecting on the first half of