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Sharjah real estate trade value increases by 37% in third quarter

Sharjah saw a 37.2% increase in the value of real estate trade in the third quarter of 2017 at $2.2bn (AED8.2bn), as compared to the same period in 2016

Sharjah, UAE.
Sharjah, UAE.

Sharjah saw a 37.2% increase in the value of real estate trade in the third quarter of 2017 at $2.2bn (AED8.2bn), as compared to the same period in 2016.

According to figures released by the Sharjah Real Estate Registration Department, the total traded areas reached 3 million square metres while the Al Khan area led in volume with 162 transactions.

The total number of transactions stood at 11,853 in the third quarter of 2017, of which 2,384 were ownership certificates and 811 were sales transactions, Abdul Aziz Al Shamsi, director-general of the department, said.

''Mortgage transactions reached 894, including 482 transactions valued at AED3.4 billion,'' he said.

''Sector-wise, residential, commercial, industrial and agricultural transactions in the same period totalled 483,181, 123 and 24, respectively,'' Al Shamsi added.

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