AED 13.4 billion in real estate turnover in Sharjah in the first half of 2023

The real estate sector in the Emirate of Sharjah reached a transaction volume of AED 13.4 billion during the first half of this year, an increase of 19.2% compared to last year. This was revealed in the annual report of the Sharjah Real Estate Department, which was published by the Real Estate Registration Department.

Director General of Sharjah Real Estate Registration Department Abdulaziz Ahmed Al Shamsi said that the real estate sector continues to play an important role in the Emirati economy, as well as in the country's economy as a whole. He noted that the share of real estate in Sharjah's total gross domestic product is 9.3% or AED 13.3 billion.

Al Shamsi also noted that the Sharjah government has always supported and promoted the real estate sector in a bid to enhance its reputation as an attractive investment destination. He stressed that the Real Estate Registration Department is fulfilling its responsibilities to regulate the real estate market in the Emirate, protecting the rights of owners and encouraging investors to take advantage of the opportunities offered by this sector.

The report also indicates that the number of real estate sales transactions in different areas of Sharjah amounted to 4187 and the total area of sold properties was 43 million square feet. The majority of transactions took place in Sharjah city, with Mueileh and Mazeirah being the most popular areas.

In addition, the success of the real estate exhibition in Sharjah "Akers 2023", which showcases the leading real estate companies and agencies in the Emirate, has been noted.

The report also indicates that residential properties (3,332 transactions) were the most in demand in the first half of this year, followed by industrial (410 transactions) and commercial (373 transactions) properties. The total number of properties sold in Sharjah amounted to 4187, including land plots, apartments and constructed buildings.

The report also provides data on the nationality of investors who have invested in Sharjah real estate. A total of 88 nationalities from around the world are involved in investing in the Emirate. The UAE has the largest number of investors (7,033 investors), as well as nationals of other Arab countries (1,824 investors).