Latest news with #OmarAl-Mansouri
Zawya
02-05-2025
- Business
- Zawya
$235mln in real estate trading value in Sharjah's Central, Eastern Regions during Q1
SHARJAH - Sharjah Real Estate Registration Department revealed that the trading value of transactions in the Central and Eastern regions of Sharjah has amounted to AED861.6 million during the first quarter of 2025, achieving a remarkable growth of 159.2% compared to the same period last year. According to the real estate transactions report issued by the department, a total of 6,493 transactions were recorded across its branches. The total number of sales transactions in the Central and Eastern regions amounted to 308 with a total area of 11.3 million square feet, which marked a growth rate of 11.9% compared to the previous year. Omar Al-Mansouri, Director of Branches Department at Sharjah Real Estate Registration Department, stated, 'The real estate in the Central and Eastern regions has achieved remarkable growth and rapid prosperity in recent years, which is due to several strategic factors established by the Sharjah government as part of its comprehensive development vision. The advanced infrastructure projects, the development of road networks, and the expansion of governmental and digital services have contributed to attracting investors and enhancing customers' confidence in these promising areas.' Al-Mansouri added, 'The facilities provided to investors, including legislative and regulatory incentives and the provision of an attractive and safe business environment, have played a major role in stimulating demand for real estate ownership, both for residential and investment purposes. For example, we are witnessing an increasing demand from citizens and residents for real estate ownership in cities like Khor Fakkan, Kalba, Al-Dhaid, and Dibba Al-Hisn, due to their high quality of life, picturesque landscapes, and proximity to major centres.' Regarding future prospects, Al-Mansouri explained, "We expect the real estate growth pace in these two regions to continue, supported by ambitious development plans in line with Sharjah's future vision, which aims to enhance the balance between economic, social, and environmental development and open new horizons for diversified and sustainable real estate investment. We, at the Real Estate Registration Department, remain committed to supporting this trend by providing flexible and smart services that facilitate procedures and expedite real estate transactions for investors, developers, and citizens alike." In detail, Al-Mansouri stated that the trading value in the four branches accounted for 6.6% of the total trading value in Sharjah. In the Central region, the trading value reached AED621.4 million, representing 4.7%, while it reached AED178.8 million in Khor Fakkan, representing 1.4%, AED57.7 million in Kalba, representing 0.4%, and AED3.7 million in Dibba Al-Hisn, representing 0.1% of the total trading value across the branches. The value of mortgage transactions in the Central and Eastern regions has reached AED84.8 million through 118 transactions. These included 47 mortgage transactions in Kalba city, 40 in the Central Region, 28 in Khor Fakkan, and 3 mortgage transactions in Dibba Al-Hisn. Regarding the number of initial sales contracts in the Central and Eastern regions during the first quarter of 2025, they reached 355 contracts, valued at AED504.3 million. The Central Region branch conducted 312 contracts out of the total, while 43 contracts were conducted in Khor Fakkan.
Sharjah 24
01-05-2025
- Business
- Sharjah 24
AED 861.6 M in RE Trading Value in Central, Eastern Regions in Q1
New Horizons for Real Estate Investment Omar Al-Mansouri, Director of Branches Department at Sharjah Real Estate Registration Department, stated: 'The real estate in the Central and Eastern regions has achieved remarkable growth and rapid prosperity in recent years, which is due to several strategic factors established by the Sharjah government as part of its comprehensive development vision. The advanced infrastructure projects, the development of road networks, and the expansion of governmental and digital services have contributed to attracting investors and enhancing customers' confidence in these promising areas.' Al-Mansouri added: 'The facilities provided to investors, including legislative and regulatory incentives and the provision of an attractive and safe business environment, have played a major role in stimulating demand for real estate ownership, both for residential and investment purposes. For example, we are witnessing an increasing demand from citizens and residents for real estate ownership in cities like 'Khor Fakkan', 'Kalba', 'Al-Dhaid', and 'Dibba Al-Hisn', due to their high quality of life, picturesque landscapes, and proximity to major centers.' Regarding future prospects, Al-Mansouri explained, "We expect the real estate growth pace in these two regions to continue, supported by ambitious development plans in line with Sharjah's future vision, which aims to enhance the balance between economic, social, and environmental development and open new horizons for diversified and sustainable real estate investment. We, at the Real Estate Registration Department, remain committed to supporting this trend by providing flexible and smart services that facilitate procedures and expedite real estate transactions for investors, developers, and citizens alike." The Central Region records highest trading value of AED 621 million. In detail, Al-Mansouri stated that the trading value in the four branches accounted for 6.6% of the total trading value in Sharjah. In the Central region, the trading value reached AED 621.4 million, representing 4.7%, while it reached AED 178.8 million in 'Khor Fakkan', representing 1.4%, AED 57.7 million in 'Kalba', representing 0.4%, and AED 3.7 million in 'Dibba Al-Hisn', representing 0.1% of the total trading value across the branches. Branch Sales Transactions Furthermore, Al-Mansouri indicated that the number of sales transactions in the Central region has reached 207 across 25 different areas, and with a total value of AED 184.2 million. The 'Industrial Area 1' in Al-Qasimia suburb accounted for the largest share, with 59 transactions, representing 28.5% of the total. It was followed by 'Al-Blida' area with 41 transactions, and the 'Industrial Area 2' in Al-Qasimia suburb with 26 transactions. Additionally, the number of transactions in 'Khor Fakkan' reached 57 across 16 areas, and with a value of AED 60.7 million. 9 of these transactions were conducted in 'Hay Al-Haray Commercial', representing 15.8% of the total sales transactions in the city, and followed by 'Hay Al-Harai Industrial' and 'Hay Shgair', with 7 transactions each. In 'Kalba' city, the number of transactions reached 41, carried out across 14 areas, and with a total value of AED 24.9 million. 12 of these transactions were recorded in "Al-Tarif 5" area, representing 29.3% of the city's total sales transactions. "Kalba Industrial" and "Sur Kalba Commercial" areas came next, with 5 transactions each. Meanwhile, sales transactions in 'Dibba Al-Hisn' were distributed across three areas, with 3 transactions worth AED 2 million. 118 of Mortgage Transactions The value of mortgage transactions in the Central and Eastern regions has reached AED 84.8 million through 118 transactions. These included 47 mortgage transactions in 'Kalba' city, 40 in the Central Region, 28 in 'Khor Fakkan', and 3 mortgage transactions in 'Dibba Al-Hisn'. 355 of Initial Sales Contracts Regarding the number of initial sales contracts in the Central and Eastern regions during the first quarter of 2025, they reached 355 contracts, valued at AED 504.3 million. The Central Region branch conducted 312 contracts out of the total, while 43 contracts were conducted in 'Khor Fakkan'.
