The Sharjah real estate market witnessed significant growth in 2024. The transaction volume reached 40 billion dirhams; a 48 percent increase compared to 2023.
Publish dateFriday 24 January 2025 - 08:49
According to Amac News: Abdulaziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Authority, said that this is the highest transaction volume the market has seen since 2008.
This reflects the increase in the number of investors of different nationalities and their demand for purchasing various types of properties. Al Shamsi said that the sector has managed to attract investors from 120 nationalities from around the world, an increase from 103 nationalities in 2023.
In addition, the number of properties traded by investors of different nationalities also reached 45,676 properties last year, an increase from 31,229 properties in 2023.
In terms of transaction volume by nationality, investments by Emirati citizens reached about AED 19.2 billion, accounting for 48% of the total.
Investments by other Gulf citizens reached AED 2.3 billion, accounting for 5.7%, and investments by Arab citizens reached AED 7 billion, accounting for 17.5% of the total.
Similarly, investments by citizens of other countries reached a record AED 11.5 billion, accounting for 28.8% of the total value of investments.
Regarding the number of properties traded by nationality, Emirati investors traded 30,638 properties, followed by Indian investors with 2,698 properties, Syrian investors with 1,761 properties, Iraqi investors with 1,012 properties, Egyptian investors with 957 properties, and Pakistani investors with 865 properties.
As for the areas with the highest number of loan transactions, Muwailah Commercial was at the top with 457 transactions worth AED 2.1 billion, followed by Umm Faneen with 352 transactions worth AED 657 million, Tiyal with 247 transactions worth AED 611 million, and Al Khan with 155 transactions worth AED 1.4 billion.
Overall, usufruct sales transactions reached 652 transactions across 11 areas, with a total value of AED 1 billion. Muwailah Commercial also topped the list with 178 transactions worth AED 166 million, followed by Umm Faneen with 104 transactions worth AED 186 million, and then Al Khan with 93 transactions worth AED 82.5 million.
Initial contract transactions reached 10,084, with a value of AED 12 billion. As for the areas with the highest number of transactions, Muwailah Commercial also topped the list with 3,328 transactions and a transaction value of AED 3.5 billion, followed by Al Qasimia City with 1,168 transactions worth AED 825 million, and then Teal with 861 transactions and a transaction value of AED 2.9 billion.
Looking at the real estate project statistics, 14 new projects were registered in Sharjah last year, covering residential, commercial and industrial uses, including 9 complexes and 5 towers. In addition, 20,197 properties were transacted in real estate development projects in the emirate in 2024.
To meet the growing demand for real estate units in the emirate, the number of projects approved by the Sharjah Real Estate Development Projects Approval Committee for all nationalities has reached 25 projects.
This reflects the increase in the number of investors of different nationalities and their demand for purchasing various types of properties. Al Shamsi said that the sector has managed to attract investors from 120 nationalities from around the world, an increase from 103 nationalities in 2023.
In addition, the number of properties traded by investors of different nationalities also reached 45,676 properties last year, an increase from 31,229 properties in 2023.
In terms of transaction volume by nationality, investments by Emirati citizens reached about AED 19.2 billion, accounting for 48% of the total.
Investments by other Gulf citizens reached AED 2.3 billion, accounting for 5.7%, and investments by Arab citizens reached AED 7 billion, accounting for 17.5% of the total.
Similarly, investments by citizens of other countries reached a record AED 11.5 billion, accounting for 28.8% of the total value of investments.
Regarding the number of properties traded by nationality, Emirati investors traded 30,638 properties, followed by Indian investors with 2,698 properties, Syrian investors with 1,761 properties, Iraqi investors with 1,012 properties, Egyptian investors with 957 properties, and Pakistani investors with 865 properties.
As for the areas with the highest number of loan transactions, Muwailah Commercial was at the top with 457 transactions worth AED 2.1 billion, followed by Umm Faneen with 352 transactions worth AED 657 million, Tiyal with 247 transactions worth AED 611 million, and Al Khan with 155 transactions worth AED 1.4 billion.
Overall, usufruct sales transactions reached 652 transactions across 11 areas, with a total value of AED 1 billion. Muwailah Commercial also topped the list with 178 transactions worth AED 166 million, followed by Umm Faneen with 104 transactions worth AED 186 million, and then Al Khan with 93 transactions worth AED 82.5 million.
Initial contract transactions reached 10,084, with a value of AED 12 billion. As for the areas with the highest number of transactions, Muwailah Commercial also topped the list with 3,328 transactions and a transaction value of AED 3.5 billion, followed by Al Qasimia City with 1,168 transactions worth AED 825 million, and then Teal with 861 transactions and a transaction value of AED 2.9 billion.
Looking at the real estate project statistics, 14 new projects were registered in Sharjah last year, covering residential, commercial and industrial uses, including 9 complexes and 5 towers. In addition, 20,197 properties were transacted in real estate development projects in the emirate in 2024.
To meet the growing demand for real estate units in the emirate, the number of projects approved by the Sharjah Real Estate Development Projects Approval Committee for all nationalities has reached 25 projects.
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Source : news agency wam
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