In six months, real estate worth $3.6 billion was sold in Sharjah

During the first half of the year, AED 13.4 billion ($3.6 billion) worth of real estate was sold in Sharjah. In many ways, this was facilitated by foreign investment in real estate from representatives of 88 countries.

According to Sharjah Real Estate Registration Department, a total of 40,843 transactions were made in six months. At the same time, out of AED 13.4 billion, about AED 4.1 billion ($ 1.1 billion) falls on mortgage transactions.

Most of the real estate was purchased in Sharjah. The transactions were about AED 5.4 billion ($1.47 billion) were made here. The most popular areas were Muwaileh Commercial, Mezair'ah, Al-Khan and Hoshi.

The head of Real Estate Registration Department, AbdulAziz Ahmed Al-Shamsi, said that the real estate sector attracted investors from 88 different countries. Among foreigners, citizens of the following countries have acquired the most property:

Syria - 633;

India - 473;

Saudi Arabia - 302;

Jordan - 282;

Iraq - 248.

Analysts note that the rapid growth of Sharjah real estate market is associated with the permission of foreigners of all nationalities to own property. The emirate authorities made such a decision at the end of 2022.