Sharjah, a thriving hub of real estate activity, has witnessed a remarkable surge in property transactions, soaring to Dh10 billion in the first quarter of 2024. This surge marks a substantial 67.1% increase compared to the same period last year, signaling a robust demand that shows no signs of slowing down. The pivotal shift came as the emirate opened its doors to non-GCC nationals, enabling them to partake in the burgeoning real estate market, as announced by the Sharjah Real Estate Registration Department.
Diverse Investment Landscape
Emiratis Lead the Pack
Emirati nationals have emerged as the frontrunners in real estate acquisitions, accounting for a staggering 7,628 properties. This dominance underscores their confidence in the local market and the lucrative opportunities it presents.
Indian Investors Make Strides
Following closely behind, Indian investors secured 683 properties, showcasing their growing interest and trust in Sharjah’s real estate prospects.
Synergistic Investments from Various Nationals
Syrians, Pakistanis, and Jordanians also made significant strides in Sharjah’s real estate landscape, collectively acquiring hundreds of properties, further diversifying the investor pool.
Impressive Investment Figures
UAE Citizens Lead in Investment Value
UAE citizens led the charts in terms of investment value, pumping Dh4.4 billion into the market. This substantial contribution solidifies their role as key players in driving the emirate’s real estate growth.
GCC Citizens and Arab Nationals Follow Suit
GCC citizens and Arab nationals also made noteworthy investments, injecting Dh625.5 million and Dh2.1 billion, respectively, into Sharjah’s burgeoning real estate sector.
Global Participation
In a testament to Sharjah’s appeal on the global stage, a total of 94 nationalities participated in the real estate market during the first quarter of 2024, showcasing its international allure and investment-friendly environment.
Promoting Growth and Stability
Abdul Aziz Ahmed Al-Shamsi, the director-general of the Sharjah Real Estate Registration Department, emphasized the government’s unwavering support and commitment to nurturing the real estate sector. He highlighted the diverse array of government-backed projects across the emirate, coupled with strategic initiatives such as the Sharjah Real Estate Exhibition (ACRES), aimed at showcasing Sharjah’s vast investment potential and fostering confidence among investors.
Regional Dynamics
Sharjah City: A Prime Investment Destination
Sharjah City emerged as the focal point of real estate activity, witnessing a staggering 2,514 transactions across 94 areas, with a total value of Dh3.3 billion. The bustling Muwaileh Commercial area claimed the top spot in sales transactions, with over 481 transactions valued at more than Dh725.5 million.
Growing Mortgage Market
The first quarter of 2024 also saw a notable uptick in mortgage transactions, totaling 976 transactions with a value of Dh2.2 billion. This surge, marking a 13.1% increase from the previous year, underscores the growing confidence in Sharjah’s real estate market and its potential for sustained growth.
In conclusion, Sharjah’s real estate sector continues to thrive, propelled by robust investor confidence, government support, and a diverse portfolio of investment opportunities. With a strategic focus on innovation and sustainability, Sharjah remains poised to emerge as a global real estate powerhouse, attracting investors from around the world.Contact us
