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Business and Economy News United Arab Emirates Property News

Sharjah Completes $1.4bn in Real Estate During Q1

Data from Sharjah Real Estate Registration Directorate (SRERD) show transactions reached $5.2 billion during the first quarter of this year.

The city saw 13,195 transactions, which included 1,131 sales across 122 areas covering over 10 million square feet.

WAM reported the investors came from 31 different nationalities across the globe with 996 mortgages transactions worth AED2.97 billion.

This data shows that the Emirates has become a safe environment for local and foreign investors, which all comes back to the directives of Sheikh Dr Sultan bin Mohammed Al Qasimi, Ruler of Sharjah.

Abdul Aziz Ahmed Al Shamsi, director-general of SRERD, said: This has made the real estate sector in the emirate more attractive to local, Arab and foreign investors,”

The main portion of sales came from residential property sales followed by commercial, industrial and lastly agriculture properties.

Real estate deals totalled AED22.5 billion last year with 54 million square feet and 48 different nationalities from investors worldwide.

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