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Sharjah generated transactions worth AED 14.7 billion in the real estate market in the first six months of 2019, according to data from the Sharjah Real Estate Registration Directorate (SRERD). In all, 27,588 deals were recorded in the market.
Most of the property deals took place in Sharjah City, with 1,704 sales transactions covering 91 areas, out of a total 1,893 sales deals. The most popular areas were Muwaileh Commercial Area, followed by Al Khan and Al Nahda.
Residential transactions accounted for 69.7% of the total transactions recorded, with commercial properties at 17.8%, industrial properties at 10% and agricultural properties at 2.5%.
GCC nationals were the biggest investors in Sharjah’s property market during the period spending AED 11.8 billion, compared to AED 2.8 billion by investors from other nationalities. In all, investors from 37 nationalities invested in real estate in the emirate during the period.
Abdul Aziz Ahmad Al Shamsi, director-general of the SRERD said, “Most of the real estate dealings recorded in the emirate of Sharjah over first six months of the year were in May with dealings worth over AED 6 billion.”
Cavendish Maxwell is the MENA region’s leading firm of property consultants and chartered surveyors. If you are looking for professional real estate consultation or advice on property related matters, please view our services.
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