INDIANS AND PAKISTANIS TOP IN SHARJAH PROPERTY INVESTMENT

Key Drivers of Market Growth

Policy Changes and Increased Accessibility

The recent policy change allowing non-GCC nationals to purchase properties has significantly boosted the real estate market in Sharjah. This inclusivity has attracted a diverse range of investors, enhancing the overall investment landscape.

Leading Investors by Nationality

The latest data reveals that Emiratis lead in property acquisitions with 7,628 transactions, followed by Indian nationals at 683, Syrians at 484, Pakistanis at 275, and Jordanians at 227. This diverse participation underscores Sharjah's growing appeal as a global investment hub.

Investment Values and Demographics

Substantial Investments by UAE Nationals

In terms of investment value, UAE nationals invested a substantial AED 4.4 billion. GCC citizens contributed AED 625.5 million, while investments from Arab nationals stood at AED 2.1 billion. A total of 94 nationalities participated in Sharjah’s property market in early 2024, reflecting its broad international appeal.

Transaction Volume and Area

The overall number of property transactions in Sharjah reached 23,478, representing a growth of 9.3% compared to last year, with a total traded area of 28.3 million square feet. This increase indicates a robust and expanding market.

Government Support and Market Confidence

Proactive Government Initiatives

Abdul Aziz Ahmed Al-Shamsi, Director-General of the Sharjah Real Estate Registration Department, reiterated the government’s proactive support for the real estate sector. He emphasized Sharjah’s role as a premier investment location, highlighting the variety of real estate projects initiated across the emirate and the government’s active involvement in events like the Sharjah Real Estate Exhibition (ACRES).

Boosting Investor Confidence

These initiatives showcase the diverse investment opportunities available in Sharjah and bolster confidence in the local real estate market. The government’s continuous support and engagement play a crucial role in driving market growth.

City-Specific Insights

High Activity Zones in Sharjah

The city of Sharjah itself saw the most activity, with 2,514 transactions across 94 zones, accumulating a value of AED 3.3 billion. The Muwaileh Commercial area was particularly active, leading with 481 sales transactions valued at over AED 725.5 million, followed by Rawdat Al-Qart, Al-Mazairah, and Al-Khan.

Mortgage Transactions on the Rise

Mortgage transactions also saw an upward trend, totaling 976 in the first quarter—an increase of 13.1% over the previous year—with a collective value of AED 2.2 billion. This growth portrays Sharjah’s escalating appeal as a key destination for real estate investments.