UAE In September, Real Estate Transactions Increased to Dh1.9 billion

Comments Off on UAE In September, Real Estate Transactions Increased to Dh1.9 billion
UAE In September, Real Estate Transactions Increased to Dh1.9 billion

The traded properties covered more than 3.9 million square feet and included residential, industrial, commercial, and agricultural lands.

A total of 2,299 real estate transactions took place during September, with a real estate trading value of Dh1.9 billion, according to a monthly report published by the Sharjah Real Estate Registration Department (SRERD). Approximately 677 of the total transactions were real estate sales in various parts of the Emirate of Sharjah.

2,299 Transactions Were Recorded.

2,299 different types of real estate transactions were recorded in the past month, according to data provided by the SRERD. These include 677 sales transactions, which account for 29.4% of all trades, and 299 mortgage transactions, which account for 13.1% of all transactions and are worth Dh608 million. 1,323 transactions, or the remaining 57.5% of the total, comprised various transactions.

Properties Were Sold In 90 Different Areas Throughout Sharjah.

According to the data, sales transactions took place in 90 different locations across Sharjah. More than 3.9 million square feet of residential, commercial, industrial, and agricultural land were involved in the real estate trade.

Tower unit sales accounted for 297 transactions, or 43.9% of all trades. Following this, 198 land sales (which accounted for 29.2%) and 182 sales of built land (which accounted for 26.9%) were recorded.

Muwaileh Commercial: The Best in Trades.

With 172 sales, Muwaileh Commercial stayed at the top of the list of Sharjah’s “most traded areas,” based on the report. Meanwhile, 78 transactions were recorded in the Al Khan area, 41 transactions in the Al Rigayba area, and 38 transactions in the Um Fanain area.

Muwaileh Commercial also had the highest financial trading value in Sharjah, with Dh164.9 million in total trade value. Al Nahda and Um Fanain were the next two to complete transactions, each totalling Dh76.7 million and Dh52.3 million, respectively. Al Rifaah eventually stated that the total amount was Dh52 million.

In the central region, the commercial districts of Al Madam, Al Faw Agricultural, Suhaila 3, and Al Madam Industrial saw most of the seven sales transactions.

In terms of money, real estate transactions were worth the most in Al Madam Commercial ($3 million), the Al Belaida area ($2.7 million), and the Refada area ($2.5 million). Al Faw Agricultural transactions totalled Dh1.6 million.

Al Zubara and Al Haray industrial areas, Al Baradi 2, and Al Mudeife ranked first in terms of the volume of sales transactions in the city of Khorfakkan, with a total of 10 trades. Al Mudeife was one of the areas with the highest value of real estate transactions totalling Dh1.8 million.

This was followed by Al Loleya, valued at Dh1.5 million, Al Baradi 2, valued at Dh1.2 million, and Al Zubara, valued at Dh899,000. In the city of Kalba, the commercial area of Soor Kalba, Industrial Kalba, and Al Saaf recorded 12 sales transactions. The highest trading value was recorded in the Al Baraha area at Dh3.5 million, followed by Hay Al Kala at Dh3.2 million. The Industrial area was ranked second, with a value of Dh2.9 million, and the Al Ghail area was ranked last, with a value of Dh1.8 million.