(MENAFN- Al Madar Communications) Sharjah-April-2024
The report issued by Sharjah Real Estate Registration Department showcasing the real estate performance in the regions and cities of Sharjah, it was revealed that the cash trading volume has reached AED 332.4 million, and were carried out through the department’s four branches in Al-Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba. Moreover, the total number of transactions in these branches has reached 6,732, with a total area of 10.1 million square feet during the first quarter of 2024.
Omar Al-Mansouri, Director of Branches Department at Sharjah Real Estate Registration Department, said, “Over the past years, the real estate sector in the Central and Eastern regions has witnessed a continuous development which expanded the economic horizons and offered promising opportunities. In addition, the two regions enjoy special attention from our wise government through the launch of many real estate and development projects, especially in tourism, which attracted investors from inside and outside the UAE, and was reflected in the growth and prosperity of the sector during the last period, as it is evident in the results of this report.”
Al-Mansouri added, "Sharjah government's interest in the continuous development of infrastructure and legislation has had a positive impact in supporting and developing the real estate sector in the emirate with its regions and cities”.
“Al-Dhaid” records the highest turnover
In the report details, Al-Mansouri reported that the trading volume in the four branches has represented 3.3% of the total trading volume of Sharjah’s real estate. The total cash trading volume in “Al-Dhaid” branch reached AED 146.2 million, representing 1.5% of the total trading volume. While it reached AED 114.8 million in “Khor Fakkan” branch, at a rate of 1.1%, and in “Kalba”, it reached AED 62 million, which represented 0.6%. As for “Dibba Al-Hisn” branch, it recorded AED 9.3 million of cash trading volume, which represented 0.1% of the total trading volume of the branches.
Mortgage transactions
Moreover, and according to the Department’s report, Al-Mansouri explained that the four branches carried out 143 mortgage transactions, with a total value of AED 130.3 million.
Sales transactions
As for the Sales transactions, Al-Mansouri said that “Al-Dhaid” city branch has recorded 126 transactions that took place in 27 different areas, and with a total value of AED 120.1 million. “Al-Madina Al-Qasimia” accounted for the largest share of these sales, with 70 transactions, which represented 55.5% of the total sales transactions, while the remaining 56 transactions were distributed across other 26 areas.
Al-Mansouri added that the number of transactions in “Khor Fakkan” has reached 87, which took place in 20 areas, and with a total value amounting to AED 51.3 million. The areas of “Al-Bardi 4 District” and “Al-Harai Industrial District” accounted for 27.6% of these transactions.
As for the number of transactions carried out in “Kalba”, Al-Mansouri pointed out that they have reached 34 transactions, which took place in 14 areas of the city, and with a value of AED 23.4 million. These sales transactions were concentrated in “Sur Kalba Commercial” and “Al-Turaif 5” areas, as they constituted 35.3% of the total sales transactions in the city.
Finally, the Director of the Branches Department at Sharjah Real Estate Registration Department revealed that sales transactions in the city of “Dibba Al-Hisn” reached 10 transactions and were distributed across 3 areas, with a total value of AED 7.7 million, 8 transactions of them or 80%, took place in “Hay Al-Shamali”.
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