Historic growth: Sharjah real estate records Dh40 billion transactions in 2024
Unprecedented 48% growth driven by investors from 120 nationalities
Sharjah’s real estate sector achieved unprecedented success in 2024, with transactions hitting an all-time high of Dh40 billion – a 48 percent increase compared to the previous year.
The exceptional performance, the largest in the emirate’s history since 2008, reflects a dynamic and competitive real estate market that continues to attract investors globally.
Director General of the Sharjah Real Estate Registration Department, Abdulaziz Ahmed Al-Shamsi, highlighted the emirate’s thriving market, attributing the growth to its stable economic climate and diverse investment opportunities. In 2024, the number of nationalities investing in Sharjah grew from 103 to 120, signalling the emirate’s growing appeal to global investors.
Investor-friendly policies
Sharjah’s government has been instrumental in fostering the real estate sector's growth. Under the leadership of Sheikh Dr Sultan bin Muhammad Al Qasimi and Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, the emirate has implemented supportive policies and infrastructure projects that enhance investor confidence.
Al-Shamsi noted a significant rise in demand across various transactions, including title deeds, sales, and real estate project unit transfers. Initial contract transactions also surged, driven by increased interest in development projects.
Population growth spurs demand
Sharjah’s expanding population and urban development played a crucial role in the sector’s success. Investments in infrastructure projects, such as roads and public facilities, made the emirate an attractive hub for housing and investment. The emirate's real estate market saw a notable rise in both residential and commercial property demands, catering to a growing and diverse population.
Investors from 120 nations
In 2024, Sharjah’s real estate market attracted investors from 120 nationalities, compared to 103 the previous year. This growth highlights the emirate’s strategic appeal to international buyers. A total of 45,676 properties were traded by investors of various nationalities, a significant jump from the 31,229 properties traded in 2023.
Infrastructure strength, diverse real estate options, and the decision allowing non-citizens and Gulf nationals to own property in Sharjah have been pivotal in this growth.
Emiratis lead investments
Emirati citizens led the way in Sharjah’s real estate activities, with investments totalling Dh19.2 billion, representing 48% of the overall trading volume. Gulf nationals contributed Dh2.3 billion (5.7%), while Arab citizens accounted for Dh7 billion (17.5%). Investments by citizens of other countries reached Dh11.5 billion, making up 28.8% of the total.
In terms of property trades, Emiratis topped the list with 30,638 transactions. Indian investors followed with 2,698 properties, while Syrian, Iraqi, Egyptian, and Pakistani investors were also prominent contributors.
Dh10 billion in mortgages
The value of mortgage transactions in Sharjah reached Dh10 billion across 2,558 deals facilitated by 32 financing entities. The “Muwailih Commercial” area led the mortgage activity with 457 transactions worth Dh2.1 billion, followed by “Umm Fanain” with 352 transactions totalling Dh657 million.
Usufruct sales hit Dh1 billion
Usufruct sales in Sharjah amounted to Dh1 billion across 652 transactions in 11 regions. The “Muwailih Commercial” area remained a hotspot, leading with 178 transactions worth Dh166 million, followed by “Umm Fanain” and “Al-Khan.”
14 new projects
Sharjah registered 14 new real estate projects in 2024, spanning residential, commercial, and industrial sectors. These included 9 complexes and 5 towers. Furthermore, 25 real estate projects have been licensed for ownership by all nationalities since the issuance of the Executive Council Resolution No. 30 in 2022.
In 2024 alone, 8 projects received approvals, a testament to Sharjah’s commitment to meeting growing real estate demands.