Not by Dubai alone: the emirate of Sharjah is gaining popularity

Analysts at Kalinka Ecosystem analyzed the real estate market of Sharjah - the third largest emirate in the UAE. In the 1st quarter of 2024, based on data from the Sharjah Real Estate Registration Department, the total volume of real estate transactions in Sharjah reached 10 billion AED, which is 67% more than the same period last year. 

Residential real estate transactions made up the largest share - there were 2242 in the 1st quarter, which is 80% of the total volume. The second most popular are commercial real estate transactions – 254, followed by industrial transactions (237). Finally, agricultural operations (38 transactions) account for 1% of the total number. 

Real estate in the emirate is gaining increasing popularity among foreign buyers. Thus, in the first three months of the year, property in Sharjah was purchased by investors from 94 countries. The ranking of foreign buyers has been distributed as follows: India (683 deals), Syria (484 deals), Pakistan (275 deals), Jordan (227 deals). 

"Sharjah Emirate possesses high investment potential, which is facilitated by a favorable business environment, convenient transport accessibility, the growth of the start-up industry, and the sale of real estate at attractive prices," said Andrey Revenko, General Director of Kalinka Middle East. – "And even though Russians are not in the TOP-5 among foreign buyers, as many have refocused on the domestic market, they confidently enter the top ten, as it was three years ago in the Dubai market."