Sharjah records $1.14 billion real estate transactions in Q3 2019

Sharjah records $1.14 billion real estate transactions in Q3 2019

Real estate transactions have recorded AED4.2 billion in the Emirate of Sharjah during Q3 of 2019, while the total areas covered in the “sales transactions” in the emirate reached 882.6km2, according to Sharjah Real Estate Registration Department, SRERD.

Director-general of the SRERD, Abdulaziz Ahmed Al Shamsi, said that the emirate has recorded 14, 974 real estate transactions in Q3 2019, which is 31.4% higher than the 11,393 transactions recorded during the same period last year.

According to the news agency, Wam, real estate transactions in Sharjah included 646 sales transactions; 1,453 initial sale contracts; 210 evaluations; and 694 mortgage transactions, among others.

Most of the real estate transactions were recorded in the Sharjah city branch, which accounted for 96.9% of the total transaction value recorded in the Q3 2019.

Investors from 41 nationalities have invested in the real estate sector in Sharjaah between July-September 2019.

Al Shamsi added: “GCC nationals’ real estate investments in the Emirate of Sharjaah recorded around AED3.5bn, while the real estate investments of other nationalities valued at about AED700m. The Emirate of Sharjaah has become an attractive market for local and foreign investors due to the directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, who pays much attention to the real estate sector.”