Sharjah records 4 billion AED property sale in May 2024
This remarkable spike marks a significant leap from the previous month's figures, showcasing a dynamic and thriving sector
Sharjah: In a groundbreaking turn of events, the Sharjah Real Estate Registration Department's latest report unveils a staggering 4 billion dirhams surge in real estate transactions during May 2024. This remarkable spike marks a significant leap from the previous month's figures, showcasing a dynamic and thriving sector in Sharjah.
With a total of 9,454 transactions documented, including sales covering 13.3 million square feet, the report paints a vivid picture of the emirate's flourishing real estate market. Sales transactions accounted for 13.2% of the total, with mortgage transactions following closely at 6.1%, totaling a value of 1.4 billion dirhams. The remaining transactions, representing 80.7% of the total, contribute to the robust momentum driving Sharjah's real estate landscape forward.
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A premier destination for local, Arab, and foreign investors
Spanning 111 areas encompassing residential, commercial, industrial, and agricultural properties, the trading frenzy highlights Sharjah's diverse investment opportunities. Leading the charge is the bustling "Muwailih Commercial" area, setting the pace with a staggering AED 399.7 million in trading value, followed closely by other prominent areas like "Tilal" and "Um Fanain."
The cityscape of Sharjah emerges as a hotbed of real estate activity, with key regions such as "Al-Madina Al-Qasimia" and "Al-Bardi 4" in Khorfakkan witnessing notable transactions and trading volumes, further solidifying the emirate's position as a magnet for investors seeking lucrative ventures.
As the real estate market in Sharjah continues to thrive, fueled by its strategic location, sustainable growth, and competitive edge, it reinforces the emirate's status as a premier destination for local, Arab, and foreign investors, fostering economic diversification and prosperity on a global scale.