According to the Sharjah Real Estate Registration Department, the city of Sharjah recorded Dh10 billion in property transactions in the first quarter of 2024, up 67.1% from the same period the previous year. This growth in demand is attributed to the emirates’ decision to permit non-GCC nationals to purchase real estate.
With 7,628 properties, Emiratis topped the list in terms of volume, followed by Indians (683), Syrians (484), Pakistanis (275), and Jordanians (227).
UAE citizens made investments totaling Dh4.4 billion, while GCC citizens made investments totaling Dh625.5 million. Arab nationals invested dh2.1 billion.
During the first quarter of 2024, investments were made in Sharjah by 94 different nationalities.
The Sharjah Real Estate Registration Department released data showing that there were 23,478 transactions in total, 9.3% more than during the same period last year even though 28.3 million square feet were exchanged overall.
According to Abdul Aziz Ahmed Al-Shamsi, director-general of the Sharjah Real Estate Registration Department, the Sharjah government has consistently been the first to offer the real estate industry in the emirate all types of support and assistance, and it has been eager to bolster its standing as a prestigious investment destination.
Al-Shamsi pointed out that “the diversity of real estate projects launched by the government in various regions of the emirate, in addition to its establishment, sponsorship, and participation in many events and exhibitions, such as Sharjah Real Estate Exhibition (ACRES), have all contributed to highlighting the many investment opportunities that Sharjah abounds, enhancing confidence in the real estate field in the emirate, succeeding in attracting foreign direct investments, new developers, and continuously revitalizing the market.”
With 2,514 transactions totaling Dh3.3 billion and occurring in 94 areas, the city of Sharjah accounted for the largest portion. With 481 sales transactions totaling more than Dh725.5 million, Muwaileh Commercial Area ranked highest in terms of sales transactions. Rawdat Al-Qart, Al-Mazairah, and Al-Khan were the next highest-ranking areas.
In the first quarter of this year, there were 976 mortgage transactions in all of Sharjah’s regions, valued at Dh2.2 billion. This represents a 13.1% increase over the same period the previous year.