Sharjah rakes in $517m in real estate sale transactions

Sharjah's real estate transactions in June totaled more than 6 million square feet. (Shutterstock)

• Sales accounted for 29.6 percent of 2,521 total transactions

DUBAI: There were 747 real estate sale transactions in Sharjah in June, totaling AED1.9 billion ($517 million), the Emirates News Agency reported.
This figure includes 358 mortgage transactions worth AED764 million.
“Despite being impacted by the global economic conditions since last February, the sector has maintained an upward momentum in growth and a positive recovery pace. It has benefited from the increased appetite of investors to conduct real estate transactions,” said Abdulaziz Ahmed Al-Shamsi, director-general of the Sharjah Real Estate Registration Department. “Companies and individuals seek to invest in real estate as it is a safe haven for capital and an ideal way to achieve a decent lifestyle.”
The total number of transactions amounted to 2,521, with sale transactions accounting for 29.6 percent of this figure and mortgage transactions accounting for 14.2 percent.
The remaining 1,416 transactions accounted for 56.2 percent of the total.
Sharjah's real estate transactions in June totaled more than 6 million square feet and included residential, commercial, industrial, and agricultural land. There were 239 transactions (32 percent) for vacant land.
Built land accounted for 177 transactions (23.7 percent), while separated towers accounted for 331 transactions (44.3 percent).