Sharjah deal signed for Dh690 million luxury project

DG Staff

SHARJAH 18 March 2021: Sharjah Real Estate Registration Department revealed that the top real estate acquisition deal last month was concluded between real estate development companies operating in the emirate.

The deal is valued at Dh690 million, and aims to establish a luxurious residential real estate project in an area of 19 million square feet.

No further details were released.

The department said the volume of real estate transactions in the emirate reached 1,818 transactions with a value of Dh3.5 billion in February 2021, said Wam.

Comparative figures for January 2021 or February 2020 were not released.

Abdul Aziz Ahmed Al Shamsi, Director-General of the Department, explained that the number of sales transactions in the emirate amounted to 457, which accounted for 25.1 percent of the total number, while the number of mortgage transactions reached 244, which represented 13.4 percent of the total number. The remaining 61.5 percent was for other transactions which reached 1,117.

Regarding the number of transactions according to the type of property, Al Shamsi stated that the number of Land Sales Transactions in Sharjah amounted to 170, while the number of Built-in Land Sales Transactions reached 140, and the number of Units Sold in Towers reached 147 in February.

Moreover, Al Rugaiba area recorded the highest number of sales transactions with 66, he said.

Also, he praised the turnout of women and businesswomen to invest in the emirate, noting that the value of investments made by women in the real estate sector reached Dh1 billion in 2020.

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