Sharjah property deals jump to Dh40 billion in 2024; citizens, expats among top investors

Sharjah property transactions jumped 48 per cent to a record Dh40 billion last year as compared to Dh27 billion in 2023 due to growing demand from local, Arab and Asian nationals. The demand is driven by the launch of new projects as well as the stability that the emirate’s real estate market offers to investors.

Lamia Al Jewaied, director of studies and research bureau at Sharjah Real Estate Registration Department, said this was the highest transaction volume in the history of emirate, attracting investors from 120 nationalities in 2024 compared to 103 in 2023.

Moreover, the number of properties traded by investors of various nationalities also increased last year to 45,676 properties, compared to 31,229 in 2023.

The UAE citizens topped the list of buyers with Dh19.2 billion, which represented 48 per cent of the total. The investments by the Gulf citizens amounted to Dh2.3 billion, while investments by Arab citizens rose to Dh7 billion. Similarly, investments by citizens of other countries achieved a record increase, which reached about Dh11.5 billion.

As for the number of properties traded by nationality, Emiratis traded 30,638 properties, followed by investors from India, Syria, Iraq, Egypt and Pakistan.

Lamia Al Jewaied revealed that the value of mortgages amounted to Dh10 billion, through 2,558 transactions carried out by 32 financing entities. Muwailih Commercial saw the highest activity, followed by Um Fanain and Tilal.