The Emirate of Sharjah achieved real estate transactions amounting to 3.6 billion dirhams, during the first quarter of the current year 2020.
According to the Emirates News Agency, the total number of transactions reached 18,537 transactions, and real estate transactions in the emirate were divided into 129 regions, with a total area of 8.9 million square feet.
His Excellency Abdulaziz Ahmed Al Shamsi, Director General of Sharjah’s Real Estate Registration Department said that the real estate sector in the emirate is based on a strong base thanks to the directives of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and the follow-up of His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, President The Executive Council, which was keen to build a real estate sector capable of overcoming various circumstances and challenges, to confirm the emirate's central position in the region, and to remain at the top of the list of investor interests as an attractive destination for real estate investment.
Al Shamsi valued the stimulus package and decisions recently approved by the Sharjah government to support government and private agencies, business sectors and individuals, which included a 3-month exemption from annual fees for economic establishments, and decisions also included all aspects of institutional and community work without exception, to demonstrate that Sharjah is a stimulating and supportive environment for business, and attractive For foreign and direct investments, which contributes to strengthening its regional lead and global position by providing the appropriate climate for investors, and the best environment for customers inside and outside the country.
Al Shamsi explained that the number of transactions of title deeds amounted to 3,204 transactions, initial sale contracts transactions 883, and mortgage transactions 750, while the number of valuation transactions reached 234 transactions.
He added that the number of sales transactions in various regions of the emirate during the first quarter reached 729 transactions, the city of Sharjah acquired the largest share of them with 632 transactions that took place in 75 regions, with a value amounting to 967,402,709 dirhams, and topped by the Khan, Nahda and Al Tayy areas, which are the areas where the projects are concentrated Detachment.
As for the central region, the number of sales transactions in it reached 20 transactions that took place in 19 different regions, at a value of 11,630,311 dirhams, and with regard to the city of Khor Fakkan, 32 transactions were carried out in 13 regions of the city, at a value of 26,180,557 dirhams, and the number of transactions in the city of Kalba reached 40 transactions in 18 regions With a value amounting to 15,830,000 dirhams, while 5 transactions were made in Dibba Al-Hisn in 4 regions with a value of 3,623,500 dirhams.
Al Shamsi stressed that residential real estate topped the number of transactions in the real estate sector during the first quarter of the year, as the number of transactions reached 507 transactions, accounting for 69.5% of the total transactions, followed by industrial real estate with 101 transactions and a rate of 13.9%, and commercial real estate was replaced in Third place, with a percentage of 13.3%, was conducted through 97 transactions, and agricultural real estate came in last place with a percentage of 3.3%, which was conducted through 24 transactions.
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