The total number of transactions executed in the past three months reached 20,448 transactions, with an increase of 10.3 per cent compared to the same period last year

Sharjah’s real estate sector saw a volume of transactions valued at Dh6.7 billion during the first quarter of 2021, with a growth rate of 84.9 per cent, compared to the first quarter of 2020, according to a report issued by the Real Estate Registration Department.

The total number of transactions executed in the past three months reached 20,448 transactions, with an increase of 10.3 per cent compared to the same period last year. In addition, the total traded area in the emirate reached 60.3 million square feet.

Abdulaziz Ahmed Al Shamsi, director-general of the Real Estate Registration Department in Sharjah, said that the outcome of the real estate transactions in the emirate during the first quarter of 2021 is evidence of the sector’s gradual recovery.

In addition, investors’ confidence was restored through the benefits of the set of incentives, facilities, and exemptions that was presented in November by the Sharjah government, represented by the Executive Council of the emirate. It also contributed significantly in supporting entities and institutions in the government and private sectors, business sectors and individuals, which also enabled them to overcome the effects of the Covid-19 crisis in a manner that ensures the continuity of economic development in various sectors.

Al Shamsi added that the sector also benefited from the decision of the Sharjah government regarding reducing buyer fees for non-Gulf Cooperation Council citizens from four percent to two per cent of the sale value. This decision took effect at the beginning of last November, which encouraged investors to conduct more real estate deals in the last quarter of 2020 and the first quarter of 2021.

Abdulaziz Ahmed Al Shamsi, director-general of the Real Estate Registration Department in Sharjah, said that the outcome of the real estate transactions in the emirate during the first quarter of 2021 is evidence of the sector’s gradual recovery.

In addition, investors’ confidence was restored through the benefits of the set of incentives, facilities, and exemptions that was presented in November by the Sharjah government, represented by the Executive Council of the emirate. It also contributed significantly in supporting entities and institutions in the government and private sectors, business sectors and individuals, which also enabled them to overcome the effects of the Covid-19 crisis in a manner that ensures the continuity of economic development in various sectors.

Al Shamsi added that the sector also benefited from the decision of the Sharjah government regarding reducing buyer fees for non-Gulf Cooperation Council citizens from four percent to two per cent of the sale value. This decision took effect at the beginning of last November, which encouraged investors to conduct more real estate deals in the last quarter of 2020 and the first quarter of 2021.