In March 2023, real estate transactions worth 1.7 billion AED were registered in Sharjah

Sharjah's landmark initiative to grant the right to freehold real estate, launched a few months ago, caused a real estate boom, as a result of which the value of real estate transactions in the emirate increased in tandem with a surge in demand.

According to official data, in March 2023, 3,386 transactions worth 1.7 billion AED were registered throughout the emirate.

Real estate market analysts said that the decision of the Sharjah Executive Council (SEC) in November 2022 was a key turning point for the real estate sector, triggering a boom cycle of freehold. The SEC ruling allows all nationalities full ownership of real estate projects without time limits. This step allows citizens of any country to own real estate of all types and purposes in Sharjah.

116 purchase and sale transactions were made in Muwailih district in Sharjah, which put it in the first place. Al-Rigaibah district came in second with 38 deals, followed by Zahirah and Al-Khan districts with 68 deals.