Sharjah property market shows strength with deals valued at AED11.2 billion in first half of 2022
News: 29 July 2022
Demand for real estate in Sharjah remains resilient, with property valued at AED11.2 billion sold in the first six months of the year.
Data released by Sharjah Real Estate Registration Department showed that 75 nationalities had invested in local property during the same period, highlighting the increased demand in the Emirate’s fast-growing real estate market from around the world.
The most active district in terms of transactions was Muwaileh Commercial, which is where the Aljada megaproject, currently being developed by Arada is based.
The news reflects Arada’s own sales performance in the first half of the year, which grew by 30% to reach AED1.49 billion.
Ahmed Alkhoshaibi, Group CEO of Arada, said: “Sharjah’s property market continues to go from strength to strength, thanks to a robust regulatory regime and continued government investment into local services and infrastructure, which is helping to drive market demand for modern, well-designed integrated communities.
“As Sharjah’s largest developer, we project a strong second half of the year, with ongoing buyer healthy demand boosted by the Emirate’s well-deserved reputation for good governance, stability and value.”
Arada is currently on track to hit its full-year sales target of AED3 billion, which would be a 25% increase on the same period last year.
