The Sharjah real estate market performed strongly in October 2024, with a record high transaction value of $1.19 billion (approximately Dh4.4 billion) and a high volume of transactions.

According to the Real Estate Transactions report by Sharjah's Real Estate Registry, 4,883 transactions totaling Dh4.4 billion were completed during the month, covering 14 million square feet.

In terms of transaction types, there were 1,415 sales transactions, or 29 per cent, spread across 126 districts in Sharjah, covering a wide range of property types; 443 mortgage transactions, or 9.1 per cent, valued at Dh1.3 billion; and 3,025 other transactions, or 61.9 per cent.

Sharjah skyline. Photo credit: Department of Statistics and Community Development (DSCD)

In terms of property types, there were 693 transactions for land, 450 for tower units and 272 for built-up land.

There were highlights in each of the regions. “The 'Al Mamza' area stood out with the highest number of real estate transactions recorded, with land valued at Dh62 million and mortgages on vacant land valued at Dh386 million, also the highest in the same month.

The 'Muwailih Commercial' area led the way in the number of sales transactions with 257, while 'Al Khan', 'Muzeirah' and 'Tilal' were the most successful in the same month. Al Khan”, ‘Muzeirah’, ‘Tilal’ with 106, 92 and 81 transactions respectively.

In the ranking of the regions with the highest volume of transactions, the “Muwailih Commercial” region topped the list with Dh258.6 million, while the “Tilal”, “Al Sajaa”, “Industrial” and “Al Sajaa” regions led with Dh258.6 million. The “Tilal”, “Al Sajaa” and “Al Khan” districts followed with volumes of Dh161.6 million, Dh130.5 million and Dh83.2 million, respectively.

In the central region, “Al Qasimia City” was the center of sales transactions, with a total of 193 transactions, accounting for the majority of the total of 226 sales transactions in the central region, with a value of Dh133.6 million, making it the region with the highest volume of transactions in the central region.

The “Khorfakkan” area recorded 23 sales transactions, with the “Al Harai industrial zone” and the “Al Harai commercial zone” tied for the highest number of transactions with five each. The “Hay Al Zubara” area recorded the highest number of transactions, amounting to 2 million dirhams.

There were 19 sales transactions in the city of “Kalba”, with “Sur Kalba Commercial” and “Al Tarif 5” each having the highest number of transactions at three. The “Al Tarif 1” area had the highest number of transactions, amounting to 4.1 million dirhams.