ABU DHABI: Sharjah Real Estate Registration Department revealed that the cash trading volume has reached AED332.4 million in the department’s four branches in Al-Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba.

In a report on the real estate performance in the regions and cities of Sharjah, the department stated that the total number of transactions in these branches has reached 6,732, with a total area of 10.1 million square feet during the first quarter (Q1) of 2024.

Omar Al-Mansouri, Director of Branches Department at Sharjah Real Estate Registration Department, said, “Over the past years, the real estate sector in the Central and Eastern regions has witnessed a continuous development which expanded the economic horizons and offered promising opportunities. In addition, the two regions enjoy special attention from our wise government through the launch of many real estate and development projects, especially in tourism, which attracted investors from inside and outside the UAE, and was reflected in the growth and prosperity of the sector during the last period, as it is evident in the results of this report.”

Al-Mansouri added, "Sharjah government's interest in the continuous development of infrastructure and legislation has had a positive impact in supporting and developing the real estate sector in the emirate with its regions and cities”.

In the report details, Al-Mansouri stated that the trading volume in the four branches has represented 3.3% of the total trading in Sharjah’s real estate. The total cash trading in the Al-Dhaid branch reached AED 146.2 million, representing 1.5% of the total trading. While it reached AED 114.8 million in the Khor Fakkan branch, at a rate of 1.1%,. In Kalba, it reached AED 62 million, which represented 0.6%. As for the Dibba Al-Hisn branch, it recorded AED 9.3 million of cash trading, which represented 0.1% of the total trading of the branches.

Moreover, and according to the Department’s report, Al-Mansouri explained that the four branches carried out 143 mortgage transactions, with a total value of AED 130.3 million.