Real estate transactions totalled Dh24.2 billion ($6.58 billion) in the Emirate of Sharjah in 2019 increasing by 7.3 per cent in comparison to 2018, a media report said.

A total of 61,357 transactions were recorded in 2019, increasing by 13.4 per cent in comparison to 2018, reported Emirates news agency Wam, citing the Sharjah Real Estate Registration Department (SRERD) annual report.

SRERD director-general Abdulaziz Ahmed Al Shamsi stated that 11,535 title deeds transactions, worth Dh9.6 billion, were recorded in all the regions of the emirate. "Other transactions recorded 3,760 mortgage transactions, worth Dh14.6 billion, 963 valuation transactions, and 5,272 initial sales transactions,” he said.

The Sharjah real estate market provides a wide variety of investment opportunities for investors along with financing facilities offered by the banks. The prices of the properties have become affordable for all investors in the market, he noted.

“Up to 3,328 sales transactions were recorded in all parts of the Emirate of Sharjah. Most of these were recorded in Sharjah city where 2,963 sales transactions, worth Dh4.8 billion, were recorded in 105 different areas," he said.

Most of Sharjah city real estate sales transactions were recorded in Muwaileh Commercial, Al Khan, Al Nahda and Hoshi areas. "However, the highest number of the Sharjah city real estate sales transactions recorded last year was in Muwaileh Commercial Area where 567 deals, worth Dh1.2 billion were recorded," Al Shamsi explained.

Up to 117 sales transactions totalling Dh73.4 million were recorded in 15 different areas of Khor Fakkan, predominantly in Al Harai's industrial and commercial areas, Al Shamsi explained. He went on to say that up to 114 sales transactions, worth Dh103 million, were recorded in 39 different areas of the Central Region, most of which were recorded in Al Tayba-2 and Seeh Al Saddah.

Up to 110 sales transactions, worth Dh49.3 million, were recorded in 21 areas of Kalba city recorded, mainly in the industrial areas of Kalba and Al Saf, the department director-general continued, adding that Dibba Al Hisn city also recorded 24 sales transactions, valued at Dh18 million across five different areas.

Records show that sales transactions of 3,328 properties, 46.3 million sq ft in area, were registered in the Emirate of Sharjah over the past year.

According to Al Shamsi, 69.4 per cent of the transactions were related to residential properties, followed by commercial properties at 15.9 per cent, industrial (11.8 per cent) and agricultural (2.9 per cent). As for the classification of properties in the Emirate of Sharjah, residential properties ranked the highest in terms of sales transactions, where residential apartments have recorded 1,213 units and lands have recorded 895 properties.