The real estate sector in Sharjah has recorded a 5.1 per cent growth in the total real estate transactions concluded in 2020, when compared to the previous year.
 
 As per official figures, 64,459 real estate transactions, worth AED15.9 billion, were sealed last year.
 
The real estate dealings recorded across the emirate last year included 12,248 ownership deeds, 4,644 initial sale transactions, 2,745 mortgage transactions, 39,444 ownership certificate transactions, 765 valuation transactions, and 4,613 other transactions.
 
Abdul Aziz Ahmed Al Shamsi, Director-General of the Sharjah Real Estate Registration Department, said the real estate sector in the emirate has seen a quantum leap due to the support of the leadership. 
 
"This is apart from the supportive efforts of the government that has adopted a series of stimulating decisions that helped the real estate sector not only to overcome the crisis caused by the Covid-19 pandemic but prosper and grow," he stated.
 
Reducing the fees on the sale value from four percent to two percent for non-GCC purchasers has led to a significant increase of 32.5 percent in sales sealed last year by non-GCC investors, Al Shamsi revealed.
 
"This major decision, along with the latest stimulus package, has boosted the economy of the emirate, and attracted direct foreign investments to the real estate sector," he added.
 
Al Shamsi declared that his teams spared no effort to process all transactions and perfectly provide all the services needed, while strictly observing all health, safety and security protocols.
 
Up to 3,773 sales transactions were recorded across the emirate last year, in comparison to 3,328 registered in 2019, constituting growth of 13.4 percent. These covered a total area of 56 million square feet. 
 
Most of these transactions were recorded in Sharjah city with 3,292 valued at AED4.6 billion. The transactions covered 100 areas, led by Hoshi and Al Khan that constituted 38.5 percent of the total sales transactions sealed in Sharjah city.
 
The areas of Hoshi, Al Khan, Al Nahda, Al Tai, and Al Majaz-3 recorded the highest sales, constituting 60.4 percent of the total transactions registered in Sharjah City. 
 
Most real estate projects were launched in Muwaileh, Hoshi, and Al Tai areas, whereas most residential apartments were recorded in Al Khan, Al Nahda and Al Majaz-3. However, Al Khan area recorded the highest value transactions worth AED531 million.
 
The Central Region recorded 125 sales transactions, worth AED108 million, across 40 areas. The highest transactions in the Central Region were at Al Malha and Al Taiba-2 areas with 35 transactions. These constituted 28 percent of the total transactions sealed in the Central Region. The remaining sales transactions, exactly 90, were concluded in 38 areas of the Central Region.
  
Meanwhile, Khor Fakkan city recorded 127 transactions, worth AED88 million, in 15 areas. The highest transactions recorded in the city were at Al Harrai Commercial and Al Midifi areas, with 41 transactions. 
 
These constituted 32.3 percent of the total transactions sealed in the city. The remaining transactions in the city, numbering 86, were concluded in 13 other areas.
 
Dibba Al Hisn recorded 36 sales transactions, worth AED27 million. These were sealed at five areas of Dibba Al Hisn, led by Al Shamali District with 13 transactions. These constituted 36.1 percent of the transactions concluded in the city.
 
Kalba city recorded 193 sales transactions, worth AED92 million, in 28 areas. The highest transactions recorded in the city were at Al Saf and Kalba Industrial areas with 67. These constituted 34.7 percent of the total transactions concluded in Kalba city. The remaining transactions in the city, numbering 126, were sealed in 26 areas.
 
The emirate recorded 105 usufruct transactions, worth AED129 million, last year. These were led by Al Nahda area where 56 benefit sale transactions were sealed.

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