March 23, 2023

Dubai Week

Complete Dubai News World

Real estate transactions in Sharjah in February were worth 2.2 billion dirhams

The Real Estate Registration Department in Sharjah announced that it registered real estate transactions totaling 2.2 billion dirhams in February.

Data from the “Mortgage and Mortgage Movement Report” published by the Real Estate Registration Department in Sharjah today showed that 2,207 transactions were recorded in various parts of the emirate last month, while the total volume of the area traded in the emirate. Sharjah reached 10.3 million square feet during that period.
Statistics from the department indicated that the total number of transactions in February reached 2,207 transactions as the number of sales transactions reached 640 transactions or 29% of the total number of transactions and the number of mortgage transactions reached 295 transactions. 13.4% of the total transactions, with a total value of 385 million dirhams, the remaining transactions are 1,272 transactions or 57.6%.

The department pointed out that these sales transactions took place in 94 areas distributed across various cities and regions of Sharjah Emirate, as these properties include residential, commercial, industrial and agricultural land.
In terms of type of real estate transactions, 191 vacant plots were traded, while built-up land transactions accounted for 193 transactions, while the number of sub-tower transactions accounted for 256 transactions out of the total transactions.

The report showed that in the city of Sharjah, Muwailih commercial area topped with 158 transactions, followed by Al Khan area with 62 transactions, followed by Al Musairah area with 42 transactions, followed by Al. Darfa region with 38 transactions.

The report indicated that among the most active areas in cash trading, Muwailih business area topped with a turnover of 415 million dirhams, followed by “Al Qarayan 3” with 286 million dirhams, followed by Al Nahda area. with 118 million dirhams, then Sajah Industrial Area with 77 million dirhams.

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