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Sharjah real estate investment tops $4bn in 9M 2018

GCC nationals top list of investors for first nine months of this year

Sharjah's property market has seen billion-dollar investments so far in 2018 [representational image].
Sharjah's property market has seen billion-dollar investments so far in 2018 [representational image].

Property transactions in Sharjah hit $3.97bn (AED14.6bn) for the first nine months of 2018, according to figures released by Sharjah Real Estate Registration Directorate (Sred).

Some 43 nationalities from all over the world were involved in the deals, encompassing 13,100 properties in the emirate. Sred added that GCC nationals came on the top, with investment worth $3.4bn (AED12.6bn) in 11,763 properties.

The latest report by Sred showed that the deals covered properties spanning 372ha at 171 different areas, while the mortgages transactions amounted to $2.4bn (AED8.8bn).

Abdul Aziz Ahmed Al Shamsi, director general of SRED, said 37,748 real estate transactions were registered in Sharjah last year.

“The 40,028 transactions recorded until the end of September [2018] registered a growth of 6%, as compared to those real estate transactions processed last year.”

READ: HH Sheikh Sultan reviews construction plans of Sharjah Mosque

Al Shamsi added that this growth is due to the lucrative incentives and big investment opportunities offered by developers in Sharjah. 

The 40,028 transactions registered in the first nine months included 11,747 title deed transactions, 2,436 mortgage transactions, and 28,845 other transactions.

Residential properties ranked first in terms of sales transactions, accounting for 67.9% of the total, followed by commercial (18%), industrial (11.8%), and agricultural (2.3%) properties.

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Construction Week - Issue 751
Oct 13, 2019