Sharjah Real Estate Achieves Record AED 40 Billion in 2024

Unprecedented 48% growth driven by increased investor confidence, population growth, and robust infrastructure

Sharjah [UAE], January 23: Sharjah’s real estate sector achieved an exceptional milestone in 2024, recording transactions worth AED 40 billion—a 48% increase compared to 2023. This marks the highest annual trading volume for the emirate since 2008, as revealed by Abdulaziz Ahmed Al Shamsi, Director-General of the Sharjah Real Estate Registration Department.

Unprecedented Investor Confidence

The record-breaking performance highlights the emirate’s appeal to a diverse pool of investors, with individuals from 120 nationalities participating in transactions. Al Shamsi credited the growth to the visionary leadership of His Highness Dr. Sultan bin Muhammad Al Qasimi and strategic urban development under Crown Prince Sultan bin Muhammad bin Sultan Al Qasimi.

“This surge reflects the emirate’s stable economic climate and an investment-friendly environment,” said Al Shamsi.

Key Factors Driving Growth

1. Population Growth and Urban Expansion: Increased demand for housing and commercial spaces, fueled by infrastructure development, has bolstered the real estate sector.
2. Diverse Ownership Opportunities: Policies allowing non-citizens and Gulf nationals to own property have significantly expanded the investor base.
3. Infrastructure Investments: Improvements in roads and public facilities have made Sharjah an attractive hub for investment and living.

Transaction Breakdown by Nationality

• Emirati citizens: AED 19.2 billion (48% of total investments)
• Arab citizens: AED 7 billion (17.5%)
• Gulf nationals: AED 2.3 billion (5.7%)
• Other nationalities: AED 11.5 billion (28.8%)

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Real Estate Highlights

• Mortgage Transactions: AED 10 billion from 2,558 deals, led by the Muwailih Commercial area with 457 transactions worth AED 2.1 billion.
• Usufruct Sales: Totaled AED 1 billion across 652 transactions, with Muwailih Commercial again leading at AED 166 million.
• Initial Sales Contracts: Reached 10,084 transactions valued at AED 12 billion, with top activity in Muwailih Commercial (3,328 deals worth AED 3.5 billion).

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Development Projects

In 2024, Sharjah registered 14 new real estate projects, including residential, commercial, and industrial developments. A total of 25 projects, licensed for ownership by all nationalities under Executive Council Resolution No. (30) of 2022, have contributed to the emirate’s sustained growth.

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Conclusion
Sharjah’s thriving real estate market reflects its robust infrastructure, progressive policies, and investor-friendly environment. As the emirate continues to attract global interest, 2025 is poised for sustained momentum in real estate transactions and development.

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Tags: Sharjah real estate, UAE property market, real estate growth, Sharjah investment, infrastructure development, foreign ownership, population growth

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