The real estate market in Sharjah witnessed the highest monthly real estate transaction volume during October, continuing its strong growth in 2024.
According to a report issued by Sharjah Real Estate Registration Department, the October 2024 real estate market reached AED4.4bn ($1.2bn) across 4,883 transactions, with a total of 14 million square feet.
In detail, the report’s statistics revealed that the total number of transactions reached 4,883, with sales transactions accounting for 1,415, representing 29 per cent of the total number of transactions.
Sharjah real estate
As for mortgage transactions, they reached 443, representing 9.1 percent of the total transactions, with a value of AED1.3bn ($354m).
Lastly, the number of other transactions reached 3,025, representing 61.9 per cent of the total number of Sharjah real estate transactions.
The sales transactions occurred across 126 areas distributed across the various cities and regions of Sharjah, and these properties included residential, commercial, industrial, and agricultural lands.
In terms of the type of traded property, there were 693 transactions for land, 450 for units sold in towers and 272 for the built-in lands’ transactions.
Al Mamzar area recorded the highest real estate deal on a land valued at AED62m ($16.9m). The area also recorded the highest mortgage transaction during the same month on a vacant land valued at AED386m ($106m).
The total number of sales transactions reached 1,145, and Muwailih Commercial area continued lead the list of areas with the highest number of sales transactions, recording 257 transactions, followed by Al Khan area with 106, Muzeirah area with 92, and Tilal area with 81 transactions.
As for the areas with the highest trading volume, Muwailih Commercial area also topped the list with a trading volume of AED258.6m ($70.4m), followed by Tilal area with AED161.6m ($44m), Al Sajaa Industrial area with AED130.5m ($36.5m), and Al Khan area with AED83.2m ($22.7m).
In the Central Region, the total sales transactions reached 226 with the majority in Al Qasimia City with 193 transactions, which was also the highest area in terms of trading volume, amounting to AED133.6m ($36.4m).
As for Khorfakkanit recorded 23 sales transactions, with Al Harai Industrial District and Al Harai Commercial District leading the list with five transactions each.
The highest area in terms of trading volume was Hay Al Zubara area which recorded AED2m ($544.6m).
Finally, and in Kalba city, 19 sales transactions took place, led by the areas of Sur Kalba Commercial and Al Tarif 5 with three transactions each, while Al Tarif 1 area was the highest area in terms of trading volume, which amounted to AED4.1m ($1.1m).
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