Value of real estate transactions in Sharjah amounted to USD 953 million in February

Value of real estate transactions in Sharjah amounted to USD 953 million in February

February saw 1,818 transactions for various types of property.

According to Sharjah Real Estate Registration Department, 1,818 transactions with a value of USD 953 million were registered in the emirate in February 2021.

The Department Director-General Abdul Aziz Ahmed Al Shamsi explained that the number of sales transactions in the emirate was 457, which represented 25.1 percent of the total number. The number of mortgage transactions amounted to 244, which accounted for 13.4 percent of the total number. The remaining 61.5 percent comprise other transactions that reached 1,117.

As for the number of transactions in terms of the type of property, the number of land sales transactions reached 170, the number of built-in land sales transactions amounted to 140 and the number of units sold in apartment blocks reached 147 in February. The highest number of sales transactions was registered in Al Rugaiba area, with 66 in total.

Moreover, in February, a major real estate acquisition deal was concluded between real estate development companies operating in the emirate. It is valued at USD 187 million and meant to establish a luxurious residential real estate project covering an area of 19 million square feet.

It is also worth noticing, that more women and businesswomen started to invest in the emirate. The value of investments made by women in the real estate sector reached USD 272 million in 2020.

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