Sharjah real estate sector witnesses impressive growth

Sharjah: Sharjah real estate sector has witnessed an impressive growth during the third quarter. A growth rate of 22.7 percent was recorded in property transaction.

According to a report published in Khaleej Times, 16,781 deals worth Dh5.7 billion were registered during July-September quarter.

Abdulaziz Ahmed Al Shamsi, director-general of Sharjah Real Estate Registration Department has been quoted saying that the Sharjah real estate sector has returned to pre-COVID level.

Shamsi said that the growth in the sector has been achieved due to the support received from His Highness Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Executive Council of Sharjah.

During the quarter, the ownership deed and sales transactions increased by 34.4 percent and 52.5 percent when compared to the same period in the last year.

A total of 990 mortgage transactions valued at Dh2.4 billion took place during the third quarter.