The Sharjah Real Estate Registration Department reported that the total value of real estate transactions in Sharjah, during the past year, amounted to 40 billion dirhams, achieving a growth rate of 48% compared to 2023.
She revealed in press statements, on the sidelines of a press meeting, which she held yesterday, to announce the main results of the real estate sector during the year 2024, recording the highest trading volume achieved by the real estate sector in the emirate since 2008, in addition to attracting investors from 120 nationalities, pointing out that the new real estate projects, Population growth, high demand, and facilities available in the emirate’s markets are factors that supported the growth of total real estate transactions.
The Director General of the Sharjah Real Estate Registration Department, Abdulaziz Ahmed Al Shamsi, said that the emirate witnessed an increase in demand for real estate as a result of population growth and urban expansion, while this demand coincided with large investments in infrastructure projects, such as developing roads and public facilities, which made real estate in Sharjah is more attractive for housing and investment.
He added: “The total value of real estate transactions in the emirate during the year 2024 amounted to 40 billion dirhams, an increase of 48%, compared to 2023, achieving the highest growth rates in trading volume since 2008.”
He continued: “The Emirate of Sharjah witnessed a noticeable increase in the number of investing nationalities, recording 120 nationalities in 2024, compared to 103 nationalities in 2023. The number of properties traded by investors of various nationalities also increased to 45,676 properties, compared to 31,229 properties in 2023”.
Al Shamsi attributed attracting investors of different nationalities to several factors, most notably the strength of the infrastructure in the emirate, the diversity of the real estate product, and the decision for non-citizens and Gulf nationals to own real estate in the Emirate of Sharjah.
Regarding the investments of the country’s citizens, Al Shamsi said: “The total investments of UAE citizens amounted to about 19.2 billion dirhams, representing 48% of the total number of investments during the past year, while the investments of Gulf nationals amounted to 2.3 billion dirhams, or 5.7%, and the investments of Arab citizens also increased. To seven billion dirhams, equivalent to 17.5% of the total, and the total investments of citizens of other countries amounted to about 11.5 billion dirhams, constituting a percentage 28.8% of the total value of investments.
He continued: “With regard to the number of properties traded, Emirati investors topped the list with 30,638 properties, followed by investors from India with 2,698 properties, then investors from Syria with 1,761 properties, investors from Iraq recorded 1,012 properties, investors from Egypt 957 properties, and investors from From Pakistan 865 properties.
He added: “According to registered statistics, the number of new real estate projects registered during the past year reached 14 projects with residential, commercial and industrial uses, pointing out that the number of projects licensed by the Real Estate Development Projects Approval Committee in the emirate for all nationalities to own has risen to 25 projects.” Real estate since the issuance of the decision, including eight projects that received approval during the year 2024, and varied between complexes and towers for various residential, commercial and industrial uses. Taking advantage of Executive Council Resolution No. (30) of 2022 regarding non-citizens and Gulf nationals owning real estate in the Emirate of Sharjah, which played an important role in supporting and sustaining the real estate sector over the past 12 months.
He stated that the value of real estate mortgages amounted to 10 billion dirhams, which were completed through 2,558 mortgage transactions, through 32 financing agencies. As for the highest areas in terms of the number of mortgage transactions, the “Muwaileh” commercial area topped the list with 457 transactions, with a value amounting to 2.1 billion dirhams.
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