The total value of real estate investments implemented in the first six months of 2016 amounted to AED12.1 billion, while the total number of real estate transactions carried out by the Department during the same period reached 25,474, Abdul Aziz Ahmed Al Shamsi, General Director of the Sharjah Real Estate Registration Department, has revealed. Al Shamsi indicated that May 2016 witnessed a record increase of 114 per cent in the total volume of real estates trading, which stood at AED3.4 billion, compared with AED1.6 billion in the same period of 2015.
As many as 25,474 real estate transactions were executed during the first half of 2016, compared with 25,850 transactions in the same period last year. These included 14,411 ownership certificates transactions, 8,165 title deed transactions, 1,943 mortgage transactions and 955 valuation transactions, which showed a remarkable increase of 35.8 per cent over the same period last year.
According to the first half data and statistics, a slight change took place in the number of transactions and trading volume, despite the continuing economic slowdown and political instability in the region in general, Al Shamsi said. This indicates that property prices have not changed substantially in comparison with the same period last year, creating a convenient atmosphere of confidence among investors and owners.
Total real estate transactions in first half of 2016
Transaction
Number
Percentage
Ownership Certificates
14,411
56.6
Title deeds
8,165
32
Mortgage
1,943
7.6
Valuation
955
3.8
Total
25,474
100
The title deed transactions conducted in the first half of 2016 were classified under 21 types of transactions, most notably sorting transactions at 1,783, sales transactions at 1,860 and initial sales contracts at 1,236, with the rest varying between charitable donation transactions, absolute, limited or mortgage-based ownership transactions, and waiver, bequeathing, modification, installation (changing land use) and initial sales contract attestation transactions, among others.
It is noted that the charitable donation granted from the government and limited restricted ownership transactions rose from 20 in the first half of 2015 to 198 in the first half of 2016, up by 890 per cent, and so did the installation changing land use transactions, which surged by 1200 per cent to 208 in comparison with 16 only in the first half of 2015. Other kinds of transactions witnessed slight ups and downs with minor changes.
While 1,137 mortgage transactions were conducted in the first half of this year, up by 42.5 per cent over the same period last year, redemption transactions rose to 306, up by 30.2 per cent, and mortgage-increase transactions fell by 57.5 per cent to 500, over the same period of 2015.
Meanwhile, a total of 1,860 sales transactions were conducted in the Emirate of Sharjah, including 1,665 transactions in Sharjah City, accounting for 89.5 per cent of the total transactions.
These sales transactions covered 102 areas in Sharjah City, with Al Khan maintaining its lead with 240 sales transactions, followed by Al Majaz 3 with 173 transactions, Sajaa Industrial Area with 159 transactions, Al Nahda with 111 transactions and Muwaileh Commercial District with 105 transactions. The remaining 877 transactions were carried out in other areas in the city.
In Khorfakkan and Dibba Al Hisn, some 95 sales transactions were conducted in 19 areas, led by Khorfakkan's Al Haray Commercial Area with 23 transactions, followed by Al Haray Industrial Area with 16 transactions, and Al Bardi 2 with 12 transactions.
As for Kalba, 100 sales transactions were accomplished, including 24 in Kalba Industrial Area and 19 in Sour Kalba Commercial Area. The remaining transactions were conducted in 20 other areas in the city.
Residential areas accounted for the majority of sales transactions implemented in the first half of 2016. As many as 1,048 transactions were conducted in the residential sector, accounting for 56.3 per cent, compared with 405 transactions in commercial areas, accounting for 21.7 per cent, 358 transactions in industrial areas, accounting for 19.2 per cent and 49 transactions in agricultural areas, accounting for 2.6 per cent.
Sharjah's sales transactions by type of area in first half of 2016
Type of Area
Number
Percentage
Residential sector
1,048
56.3
Commercial sector
405
21.8
Industrial sector
358
19.3
Agricultural sector
49
2.6
Total
1,860
100%
As far as the classification of traded land and property is concerned, a total area of approximately 39.2 million square feet was sold, including idle and built-up land plots. The idle industrial land that was sold spanned an area of 12.6 million square feet and comprised 262 real estates, while the built-up industrial land covered 2.3 million square feet, encompassing 96 real estates.
Some 278 real estates of idle commercial lands spanning a total area of 1.9 million square feet were sold, whereas the real estates of built-up commercial lands totalled 108 and covered an area of 643,000 square feet.
As many as 198 real estates of idle residential land plots, occupying an area of 9.2 million square feet, were sold, as compared with 281 real estates of built-up land plots with an area of 2.7 million square feet.
The total area of traded agricultural land was 9.1 million square feet and comprised 49 land plots.
As many as 405 apartments with a total area of 525,000 square feet were traded during the first half of 2016, and so were 175 residential parking lots covering an area of 24,000 square feet. The remaining 26 real estates, covering a total area of 14,000 square feet, varied between residential studios, shops, offices and warehouses.
Sharjah's sales transactions by type of property in first half of 2016
Type of property
Number of sold real es
Africa Stories
22/04/2024
Tonight on House of Zwide: Funani informs Isaac about Nkosi seeing his hijacker ...
22/04/2024
Tonight on Scandal: The carpet is pulled out from under NhlamuloDon't miss Monday, 22 April's riveting episode of South African soapie Scandal! on e.tv ...
22/04/2024
LGBTQ writers asked to submit their storiesWriters have been asked to submit their short stories (up to 20, 000 words) for an upcoming anthology called Just LG...
22/04/2024
[Watch] Queen of hip-hop Lil2Hood thanks ParisProducer and DJ Lil2Hood (Flash.Wrldwide) has proved that she's a queen of modern hip-hop. Lil2Hood thanked Pa...
22/04/2024
Isaac Mutant: HemelBesem gave me R2, 500'Cape town rapper Isaac Mutant claims he was paid less than everyone else's fee for the use of his music in Sho...
22/04/2024
Afrikaans (free) television shows you can STILL watchAfrikaans television shows are making a comeback through AfriForumTV. However, not everyone wants to see sh...
22/04/2024
Tonight on Smoke and Mirrors: Virginia learns Sonto and Sakhile slept togetherDon't miss Monday, 22 April's riveting episode of South African soapie Smo...
22/04/2024
Tonight on Skeem Saam: Kgosi reveals the details of what he witnessed Lehasa doi...
21/04/2024
Gqeberha: The Empire' loses more viewers on DStvTshedza Pictures' isiXhosa telenovela Gqeberha: The Empire' lost more viewers in March and was plac...
21/04/2024
Youngins' fans praise actor Thabiso Ramotshela as MahlatseSouth Africans praise former The River' actor Thabiso Ramotshela, who plays Mahlatse in Showm...
20/04/2024
Skeem Saam: Friday's episode, 19 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soa...
19/04/2024
Tonight on Smoke and Mirrors: Thandiswa panics when she learns of possible evide...
19/04/2024
Tonight on Skeem Saam: Khwezi stares death in the faceDon't miss Friday, 19 April's riveting episode of South African soapie Skeem Saam on SABC 1 on DSt...
19/04/2024
Tonight on House of Zwide: Faith refuses to talk to Zola and to discuss the matt...
19/04/2024
Skeem Saam: Thursday's episode, 18 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African s...
19/04/2024
Prison Journalism: Tragic story of Jerry's life and crimesDavid van Nek was incarcerated in Pollsmoor Prison from 2013 until 2015 and participated in the re...
19/04/2024
House of Zwide' Spoiler: Soka dates Mampho and OnaThe House of Zwide' May teasers reveal that Soka will date both Ona and Mampho and get caught. Will h...
19/04/2024
Beer: Seven celebrities talk about their loveBeer is one of the world's most popular beverages. We asked several celebrities about their favourite brews or ...
19/04/2024
Tonight on Scandal: Tlhogi cannot believe what she hears from TapsDon't miss Friday, 19 April's riveting episode of South African soapie Scandal! on e.t...
18/04/2024
Tonight on Smoke and Mirrors: Caesar almost finds Thandiswa with the bloody wedd...
18/04/2024
Taylor Swift's The Tortured Poets Department' set to drop on FRIDAYTaylor Swift will release her highly anticipated record The Tortured Poets Departme...
18/04/2024
Tonight on Skeem Saam: Lehasa puts his plan to eliminate Khwezi in motionDon't miss Thursday, 18 April's riveting episode of South African soapie Skeem ...
18/04/2024
Prison Journalism: April's experiences of black boudoirThabo Mthembu was incarcerated in Pollsmoor Prison from 2014 to 2019. Read Thabo's story
by Tha...
18/04/2024
Prison Journalism: Can gangsterism and violence be reduced in prison?Dean Mashimbwe, a Zimbabwean migrant residing in Cape Town, was incarcerated at Pollsmoor C...
18/04/2024
Software making music: How DJs are doing itSoftware plays a big part in music production, recording, and performances. Here's what DJs are using, and how yo...
18/04/2024
Tonight on House of Zwide: Zanele later blindsides an unwitting Faith into meeti...
18/04/2024
Debut author stuns with international bestselling thriller Anna O'Matthew Blake burst onto the book scene with his bestseller Anna O', a deliciously d...
18/04/2024
Skeem Saam: Wednesday's episode, 17 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African ...
18/04/2024
Watch: Trailers for the best Afrikaans movies ever madeDon't know what to watch? Here are some of the best Afrikaans movie trailers ever made, including Too...
17/04/2024
Isitha: The Enemy' is the second-watched TV show on e.tvE.tv's popular telenovela, Isitha: The Enemy' secured second place on the channel with over...
17/04/2024
Tonight on Scandal: Dintle reels in the line but it seems she's the only one...
17/04/2024
Trailer debate: What's the BEST South African movie?The trailer debate is on! We'd like to spark the debate What's your favourite South African mov...
17/04/2024
Tonight on Skeem Saam: Lewatle and Pax are punished for their misdeedsDon't miss Wednesday, 17 April's riveting episode of South African soapie Skeem Sa...
17/04/2024
Tonight on House of Zwide: Isaac tells Funani he has no leads on Nkosi's hij...
17/04/2024
Ster-Kinekor to cut 236 jobs, close THESE nine cinemas in South AfricaSter-Kinekor has announced plans to lay off almost a third of its 728 employees and close ...
17/04/2024
Disney and National Geographic celebrate Earth MonthDisney's storytelling prowess merged with National Geographic's legacy of exploration to celebrate E...
17/04/2024
Prison Journalism: How have you changed as a person while in prison?Jeffrey Shockley is a writer serving a life sentence in the State Correctional Institution-F...
17/04/2024
Tonight on Smoke and Mirrors: Thandiswa is determined to solve Dikeledi's su...
17/04/2024
Smoke and Mirrors: Tuesday's episode, 16 April 2024 [VIDEO]Stay up to date with the latest episodes of your favourite South African soapie on The South Afri...
17/04/2024
Skeem Saam: Tuesday's episode, 16 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African so...
17/04/2024
Scandal!: Tuesday's episode, 16 April 2024 [video]Stay up to date with the latest episodes of your favourite South African soapie on The South African websi...
17/04/2024
Sibongile and The Dlaminis' gains first position on DStvRhythm World's popular telenovela Sibongile and The Dlaminis' is the most-watched TV show o...
17/04/2024
House of Zwide: Tuesday's episode, 16 April 2024 [VIDEO]Stay up to date with the latest episode of South African soapie House of Zwide on The South African ...
16/04/2024
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
16/04/2024
Tonight on House of Zwide: Zanele feels Sandile's not a true friend anyway i...
16/04/2024
Tonight on Skeem Saam: Evelyn learns about the full scale of her son's troub...
16/04/2024
Tonight on Smoke and Mirrors: Caesar and Jaxon finally receive the moment they h...
16/04/2024
Smoke and Mirrors: Monday's episode, 15 April 2024 [VIDEO]Stay up to date with the latest episodes of your favourite South African soapie on The South Afric...
16/04/2024
Skeem Saam: Monday's episode, 15 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soa...
The total value of real estate investments implemented in the first six months of 2016 amounted to AED12.1 billion, while the total number of real estate transactions carried out by the Department during the same period reached 25,474, Abdul Aziz Ahmed Al Shamsi, General Director of the Sharjah Real Estate Registration Department, has revealed. Al Shamsi indicated that May 2016 witnessed a record increase of 114 per cent in the total volume of real estates trading, which stood at AED3.4 billion, compared with AED1.6 billion in the same period of 2015. 
