UAE Sharjah's real estate transactions in June valued at Dh1.9 billion

According to a report by the Sharjah Real Estate Registration Department (SRERD) for June, a total of 747 real estate sales transactions in 106 locations of the Emirate of Sharjah were completed with a cash value totaling Dh1.9 billion, with a total area exceeding 6 million square feet.

358 mortgage transactions totaling Dh764 million are included in the statistics.

Director General of SRERD Abdulaziz Ahmed Al Shamsi remarked, "Despite being affected by the state of the world economy since last February, the industry has continued to grow and recover at a steady clip. It has benefited from investors' greater desire to engage in real estate deals. Because real estate is a safe sanctuary for money and a great way to live comfortably, businesses and individuals choose to invest in it."

"These results are in line with the strategic vision of the Emirate of Sharjah in the areas of economic and social development, improving financial sustainability, boosting the macroeconomy, and providing adequate housing for both citizens and residents, something that embodies what was recently confirmed by H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, when he said that housing has a special value, as it allows people to live in a safe and comfortable environment.

The department completed 2,521 transactions all over the past month, with 747 of those being sales and accounting for 29.6% of the total. Mortgage transactions made up 358, or 14.2% of all transactions, while the remaining transactions made up 1,416, or 56.2%.

Residential, commercial, industrial, and agricultural areas made up more than 6 million square feet of real estate sales in the emirate in June.

There were 239 transactions involving vacant land, broken down by type of property (32 percent). As opposed to separated towers, which accounted for 331 trades, built lands represented 177 transactions (or 23.7%). (44.3 percent).