Wednesday , January 27 2021

AED worth 14.6 billion real estate transactions in Sharjah for 9 months



Abdul Aziz Ahmed Al Shamsi, General Director of the Real Estate Registration Department in Sharjah, said that the number of transactions reached 37,748 transactions in the past year, while by the end of September last year, it reached 40,028 transactions, representing an increase of 6% in relation to the number of transactions last year.

Growth was attributed to the motives, investment opportunities, diversification and financial services provided by the emirate to individuals and investors in accordance with the directives of His Majesty Sheikh dr. Sultan bin Mohammed Al-Qassimi, a member of the Supreme Council and the ruler of Sharjah, which contributed to the growth of this vital sector. The most efficient sector in the country.

He pointed out that the emirate has become a favorite destination for family tourism in the region and strives to consolidate its recognizable position as a destination for life and work by families and trying to combine originality and modernity in patterns and ways of life and life.

Al Shamsi emphasized that the Emirate of Sharjah has become an attractive paradise for investors from and outside of the United Arab Emirates, thanks to leading a wise leadership to provide an incubator for real estate investment, which is one of the most important pillars that supported the emirate's arrival in the highest stages of prosperity and prosperity .

He added that the real estate sector managed to gain the trust of local, Arab and foreign investors over the past years due to legal frameworks that regulate the real estate sector and legislation systems that have contributed to providing a secure real estate investment environment guaranteed by right dealers and covering all sectors of the sector; his activities across the emirate.

He pointed out that the legal environment regulating the real estate sector in the Emirate of Sharjah witnessed significant development of legislation in order to meet the needs of the market, which positively reflects on attracting large international companies to invest in the sector. He emphasized the importance of some recent decisions in some areas such as the right to own / What helped open the door to new investors that significantly contributed to the growth of the market.

The main branch was the largest trading volume during the measurement period, worth more than 13,789 billion dirhams, followed by Al Dhaid affiliates with a turnover of more than 526,956 million dirhams. The volume of trade in Khorfakkan reached 160 million dirhams and Kalba branch offices 124.894 million dirhams.

Last July was the biggest turnover of more than 2,715 billion dirhams. The trading volume in February reached around 1.865 billion dirhams.

Total transactions amounted to 40,028 different transactions, while transactions in securities amounted to 11,747 transactions, while mortgage transactions 2,436 transactions, while other transactions amounted to 28,845 transactions.

They analyzed transactions of ownership during the first nine months of 2018, in the amount of 11,747 transactions by the branch. The Main Branch issued these transactions with a total of 9,994 transactions, and the rest was distributed to 680 transactions in the Kalba Branch, 563 transactions in the Khorfakkan Branch and 510 transactions in the Al Dhaid Branch.

The total number of mortgage transactions in different regions amounted to 2,436 transactions in the value of 8.8 billion dirhams, and the main branch office received 2.091 transactions, followed by Dahid branch with 164 transactions, Khorfakkan with 98 transactions, while the number of transactions in Kalba reached 83 transactions.

These results reflect the confidence of the banks operating in UAE in the real estate sector in the emirate and its ability to attract investors and increase the volume of their investments and highlight the large urban development evidenced by the emirates.

And Sharjah Citi bought the majority of sales transactions after witnessing 2,075 transactions sold in 101 areas at the top of commercial areas in Khan and Alnahda and Almajaz 3 B 875 transactions. Khan experienced the largest number of transactions for 402 transactions. Moih's commercial space is the highest value of the turnover of 588 million dirhams.

The Central Region testified 74 transactions in 24 areas, led by Sohaila Commercial, Al Zaid Agricultural and Al Madam Trading, while Khorfakkan and Dibba Al Hossn witnessed 99 sales transactions in 20 areas where Al-Harri's Commercial Area had 22 transactions , followed by the Industrial Zone Al-Harai with 18 transactions. They sell transactions in 26 regions, followed by an industrial zone with 30 transactions, and then with the Serbian Armed Forces with 20 transactions.

By classification of sales transactions by type of property, the largest share of the population is made, accounting for 67.9% of the total number of assets, followed by commercial real estate by 18%. Industrial real estate accounted for 11.8%.

By type of trading, industrial land was "undeveloped" at the top of the total volume of transactions for 12 million square meters. Regarding the number of traffic real estate, residential apartments were above 687 apartments, and then a residential area with a total of 369 properties. Built with a total of 330 facilities, then a commercial space with 258 properties.

In terms of investors, 43 nationalities from all over the world invested in the emirate, and in the first nine months of this year 13,100 properties were traded, and the GCC citizens invested 12.6 billion dirhams, trading 11,763 properties, while the citizens of other countries traded 1,364. The size of investment in real estate is two billion dirhams.

VAM / Alija Al Ali / Avad Al Mokhtar / Assem Al Khouli

© Copiright Emirates Nevs Agents (VAM) 2018.


Source link