The developing real estate market in Sharjah: 19 billion dirhams in 9 months of 2023

As a result of the analysis of real estate transactions in the Emirates, a growth of 14.6% was observed over the last nine months of the current year, amounting to over 19 billion dirhams. Abdullah Al-Zarouni, the director of the Real Estate Department at the Sharjah Registration Department, reported that the total volume of transactions in the real estate market in the Emirates reached 19 billion dirhams, which is a 14.6% increase compared to the same period last year. At the same time, the volume of mortgages amounted to 4.4 billion dirhams.

According to Al-Zarouni, around 60,000 transactions have been made in the last nine months. A significant portion of real estate transactions in Sharjah took place in the Muwaileh commercial area, where 1,164 transactions were completed for a total amount exceeding 1.5 billion dirhams.

In addition, Al-Zarouni noted that in the last nine months, investors from 97 nationalities around the world have invested in the Emirates. This highlights the importance of laws that protect property owners' rights, which have successfully attracted investors. At the same time, citizens of the United Arab Emirates have invested approximately 11.1 billion dirhams in 15,857 real estate properties.