Sharjah's Real Estate Boom in 2024

In 2024, Sharjah's real estate market achieved a record-breaking AED 40 billion in transactions, marking a 48% growth from 2023. This is the highest trading volume since 2008, driven by a diverse range of investors from 120 nationalities. Abdulaziz Ahmed Al Shamsi, Director-General of the Sharjah Real Estate Registration Department, highlighted the emirate's attractive investment environment and stable economy as key factors.

Support and Growth

The growth is supported by His Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, and Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler. The increase in transactions, including title deeds and sales, reflects investor confidence. Population growth and urban expansion have also boosted demand, alongside infrastructure investments.

Investment Breakdown

Emirati citizens led investments with AED 19.2 billion, followed by other Gulf citizens with AED 2.3 billion, Arab citizens with AED 7 billion, and other nationalities with AED 11.5 billion. Emirati investors traded 30,638 properties, with significant contributions from Indian, Syrian, Iraqi, Egyptian, and Pakistani investors.

Mortgage and Sales Highlights

Mortgage transactions totaled AED 10 billion, with "Muwailih Commercial" leading in volume. Usufruct sales reached AED 1 billion, with "Muwailih Commercial" again topping the list. Initial sales contracts were valued at AED 12 billion, with "Muwailih Commercial" leading in transactions.

New Projects and Future Outlook

Fourteen new projects were registered, including residential, commercial, and industrial uses. The number of licensed projects increased to 25, supporting continued growth into 2025, aided by a resolution allowing non-citizens and Gulf nationals to own real estate in Sharjah.