Sharjah’s real estate sector is flourishing, recording an impressive AED 28 billion in transactions over the first nine months of 2024—a staggering 47 percent increase compared to the same period last year.
This remarkable growth, amounting to 69,078 total transactions, marks a 16.5 percent jump in transaction volume year-on-year.
Diverse Investor Base
Sharjah’s property market continues to attract a diverse base of investors, with participation from 114 nationalities during this period. UAE nationals contributed AED 13.7 billion across 22,908 properties, while citizens of other Gulf Cooperation Council (GCC) nations invested AED 1.7 billion in 1,166 properties. Arab investors from other countries brought in AED 5.1 billion, with 4,651 properties, and international investors from non-Arab countries contributed AED 7.5 billion through 4,587 properties.
Positive Indicators
The latest report from the Sharjah Real Estate Registration Department highlights several positive indicators. There were 17,000 sales, usufruct, and preliminary contract transactions, up from 11,000 transactions over the same period last year. The total value of real estate mortgages reached AED 7.5 billion, with 3,229 transactions recorded.
Continuous Support
Abdul Aziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department, credited the growth to continuous support from Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the sustained follow-up by Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah. Al-Shamsi stated, “The advantages of real estate investment in the emirate had a positive impact on the sector.” He highlighted investor confidence, sustained by numerous development projects and incentives allowing ownership by non-citizens and GCC nationals.
Additionally, Al-Shamsi noted, “The constant increase in real estate transactions reflects the confidence of investors in Sharjah’s real estate market, and their admiration of the emirate’s holistic development.” Increased demand for title deeds, property subdivision, and sales transactions, as well as a rise in initial contract transactions, underscore the emirate’s attractiveness, he said. “Such positive growth results witnessed by Sharjah’s real estate herald further growth in the future of real estate.”
New Projects
During this period, eight new real estate projects were registered, spanning towers and commercial-residential complexes.
Highest traded areas
The number of sales transactions in various areas of the emirate reached 9,216 transactions, while the total area traded in sales transactions amounted to 88.2 million square feet, and the total number of traded areas was 220 areas during the first nine months of this year.
Sharjah city accounted for the largest share, with 8,311 transactions in 120 areas, and with a trading volume of AED 10.3 billion, led by “Muwailih Commercial” as the highest area in terms of the number of sales transactions and trading volume, which amounted to AED 2.2 billion through 1,980 transactions, followed by “Rawdat Al-Qart” area with 839 transactions, Tilal with 676, and Al-Khan with 615 transactions.
Residential Real Estate
Residential properties dominated Sharjah’s real estate transactions, with 7,657 sales accounting for an 83.1 percent increase over last year. Commercial properties came next, with 758 transactions, and with an increase rate of 8.2 percent, followed by industrial properties with 653 transactions, an increase rate of 7.1 percent, then agricultural properties with 148 transactions and an increase rate of 1.6 percent.