{"id":9804,"date":"2018-11-11T13:53:35","date_gmt":"2018-11-11T09:53:35","guid":{"rendered":"http:\/\/www.middleeastevents.com\/blog\/?p=9804"},"modified":"2018-11-11T13:53:35","modified_gmt":"2018-11-11T09:53:35","slug":"property-transactions-hit-aed14-6-billion-in-9-months","status":"publish","type":"post","link":"https:\/\/www.middleeastevents.com\/blog\/property-transactions-hit-aed14-6-billion-in-9-months\/","title":{"rendered":"Property Transactions Hit AED14.6 Billion In 9 Months"},"content":{"rendered":"

Sharjah Real Estate Registration Directorate (SRED) has revealed that real estate transactions reached AED 14.6 billion<\/strong> in the Emirate in the first nine months of this year, reaffirming Sharjah market\u2019s attractiveness and ability to compete with global investment destinations.<\/p>\n

The booming sector is witnessing a thorough and incessant growth and expansion based on an advanced infrastructure and powerful legislation that boost investment and trade movement in the \u2018Smiley\u2019 Emirate.<\/p>\n

As per the latest real estate transactions report of the Sharjah Real Estate Registration Directorate, the 2,415<\/strong> real estate deals sealed covered 40 million<\/strong> square feet at 171<\/strong> different areas, while the mortgages transactions amounted to AED 8.8 billion<\/strong>,<\/p>\n

Significant growth and investment incentives<\/strong><\/p>\n

H.E Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Directorate, said 37,748<\/strong> real estate transactions were registered in the Emirate of Sharjah last year.<\/p>\n

\u201cThe 40,028<\/strong> transactions recorded until the end of last September registered a growth of 6%<\/strong> as compared to those real estate transactions processed last year.\u201d<\/p>\n

Al Shamsi added that this growth is due to the lucrative incentives and big investment opportunities offered.<\/p>\n

\u201cThis is apart from the diversity of the options available, let alone the financing facilities provided to individuals and investors in pursuance of the directives of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah.<\/p>\n

Transactions per branch<\/strong><\/p>\n

The main branch witnessed the largest real estate transactions that stood at more than AED 13,789 billion<\/strong>, followed by Al Dhaid branch with over AED 526,956 million<\/strong>, while Khor Fakkan transactions reached AED 160 million <\/strong>against around AED 124,894 million<\/strong> in Kalba branch.<\/p>\n

Nonetheless, records show that last July witnessed the largest transactions that exceeded AED 2,715 billion<\/strong> in comparison to AED 1,865 billion<\/strong> February.<\/p>\n

Transaction in detail<\/strong><\/p>\n

The 40,028<\/strong> transactions registered in the first nine months of this year included 11,747<\/strong> title deed transactions, 2,436<\/strong> mortgage transactions, and 28,845<\/strong> other transactions<\/p>\n

Title deed transactions per branch<\/strong><\/p>\n

The biggest of the 11,747<\/strong> title deed transactions recorded in the first nine months of 2018 was at the main branch which issued 9,994<\/strong> title deeds.<\/p>\n

These are compared to 680<\/strong> title deed transactions in the Kalba branch, 563<\/strong> in Khor Fakkan branch, and 510 <\/strong>in Al Dhaid branch.<\/p>\n

Mortgage transactions reflect banks\u2019 trust in real estate sector<\/strong><\/p>\n

The biggest of the registered 2,436<\/strong> mortgage transactions, valued at AED8.8 billion<\/strong>, was at the main branch which processed 2,091<\/strong> mortgage transactions, followed by Al Dhaid branch with 164<\/strong> transactions, and 98<\/strong> in Khor Fakkan, and 83<\/strong> in Kalba.<\/p>\n

Sales transactions by region<\/strong><\/p>\n

Most transactions; exactly 2,075<\/strong> sales, were recorded in 101<\/strong> areas in Sharjah city, led by commercial areas in (Al Khan, Al Nahda and Al Majaz-3) that witnessed 875<\/strong> transactions; most of which (402<\/strong>), were in Al Khan, while the highest transaction was recorded at Muwailah commercial area against AED 588 million<\/strong>.<\/p>\n

These were in comparison to 74<\/strong> transactions of 24<\/strong> areas in the Central Region, led by Sohaila Commercial Area, Al Dhaid Agricultural Area and Al Madam Commercial Area.<\/p>\n

Khor Fakkan and Dibba Al Hisn witnessed 99<\/strong> transactions in 20<\/strong> areas, led by Al Harri Commercial Area with 22<\/strong> transactions, followed by Al Harri Industrial Area with 18<\/strong> transactions. Kalba city came next with 120<\/strong> transactions in 26<\/strong> areas, led by the Industrial Area with 30<\/strong> transactions, followed by Al Saf area with 20<\/strong> transactions.<\/p>\n

Residential properties on the top<\/strong><\/p>\n

Residential properties ranked first in terms sales transactions, though. They accounted for the largest share of the sales transactions by up to 67.9%<\/strong> of the total number of properties, followed by commercial properties which stood at 18%<\/strong> as compared to 11.8%<\/strong> for industrial properties, and 2.3%<\/strong> for agricultural properties.<\/p>\n

As for unbuilt industrial lands, they constituted most of the transactions conducted in terms of total area with about 12 million<\/strong> square feet. As for built properties dealings, residential apartments came first with 687 <\/strong>apartments, followed by residential lands with 369<\/strong> properties, residential built lands with 330<\/strong> properties, and commercial lands with 258<\/strong> properties.<\/p>\n

Investors from 43 nationalities<\/strong><\/p>\n

Investors from 43<\/strong> nationalities worldwide were involved in the reported real estate transactions spanning 13,100<\/strong> properties in the Emirate of Sharjah in the first nine months of the year.<\/p>\n

However, the GCC nationals came on the top with investment in 11,763<\/strong> properties, worth AED 12.6 billion<\/strong>, while other nationals traded in 1,364<\/strong> properties valued at AED 2 billion<\/strong>.<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Sharjah Real Estate Registration Directorate (SRED) has revealed that real estate transactions reached AED 14.6 billion in the Emirate in the first nine months of this year, reaffirming Sharjah market\u2019s attractiveness and ability to compete with global investment destinations. The booming sector is witnessing a thorough and incessant growth and expansion based on an advanced […]<\/p>\n","protected":false},"author":1,"featured_media":9805,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/9804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/comments?post=9804"}],"version-history":[{"count":1,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/9804\/revisions"}],"predecessor-version":[{"id":9806,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/9804\/revisions\/9806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media\/9805"}],"wp:attachment":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media?parent=9804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/categories?post=9804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/tags?post=9804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}