Sharjah real estate transactions valued at AED16.6 billion in Jan-Sep 2022

Sharjah real estate transactions valued at AED16.6 billion in Jan-Sep 2022

SHARJAH, 10th November, 2022 (WAM) -- Sharjah Real Estate Registration Department (SRERD) issued a report on the results of real estate transactions for the period ending 30th September, 2022, revealing that cash trading volumes of the emirate's real estate transactions amounted to AED 16.6 billion.

65,314 total transactions were carried out, distributed among the various cities and regions of Sharjah, including 5,335 sales transactions in 184 areas, with a total area of more than 42.6 million square feet.

The report showed that 79 different nationalities traded on 20,280 properties, and the value of Gulf nationality investments amounted to AED 12.2 billion; investments of other nationalities amounted to AED 4.4 billion, while the value of mortgages reached close to AED 6.6 billion.

Abdul Aziz Ahmed Al Shamsi, Director-General of SRERD, said, "The real estate market in the Emirate of Sharjah has achieved an upward recovery and positive growth in sales transactions during the first three quarters of 2022, in addition to the launch of new real estate projects. Despite the continued volatility of international oil prices and its impact on the business sector, real estate remains a steady economic component, capable of self-sustaining business activities, vitality, and attractiveness by businessmen and investors.”

Al Shamsi highlighted