Sharjah’s Real Estate Sector Generated Over $1 Billion in Transactions
2 min
The real estate market in Sharjah has shown remarkable growth, with the Sharjah Real Estate Registration Department reporting transactions worth AED3.9 billion ($1.06 billion) in January 2024. This represents a notable increase from the AED2 billion reported in January 2023, reflecting improved investor confidence in the region’s property market and a strong start to the year.
The volume of transactions in January 2024 increased to 5,412, a significant leap from the 2,999 transactions recorded in January 2023. This increase highlights the escalating interest and activity within Sharjah’s real estate sector.
The breakdown of January 2024’s transactions reveals that sales transactions covered 16.3% of the total, with 879 sales recorded. Mortgage transactions made up 5.3%, amounting to AED548.1 million, while the rest, 78.4%, involved various other real estate transactions.
The real estate deals covered a wide range of assets, including residential, commercial, industrial, and agricultural properties. Sales were recorded across 106 areas in different parts of Sharjah, demonstrating the extensive reach of the market’s activity.
Among the traded properties, there were 358 land deals and 282 built-in land transactions. Tower unit sales accounted for 239 of the total transactions.
Certain areas in Sharjah stood out for their real estate activity in January 2024. Muwailih Commercial led in sales transactions with 122 deals. In the central region, Al-Madina Al-Qasimia recorded the highest trading volume with 46 transactions valued at AED32 million. Khor Fakkan’s Hay Al-Haray Industrial area and the Hayawa 4 district were notable for their trading volumes, with AED3.2 million recorded in Hayawa 4. In Kalba, Al-Tarif 5 saw the highest trading volumes, reaching AED1.5 million.
Muwailih Commercial also led in trading volume with AED164.1 million, followed by the Al-Sajaa Industrial area with AED152.5 million, and then Al-Khan and Al-Mamzar with significant trading volumes as well.
This rush in Sharjah’s real estate transactions highlights the growing dynamism and appeal of its property market, indicating a positive outlook for both investors and the regional economy.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
A bold new corporate restructure to achieve its ambitious $27 billion portfolio goal
2 min
Omniyat, a distinguished name in Dubai’s ultra-luxury real estate sector, has embarked on a transformative journey by unveiling a new corporate structure under the newly formed Omniyat Group. This strategic move aims to unify and drive success across its various branded companies, setting an ambitious target of a AED100 billion ($27 billion) total group portfolio over the next five years.
This announcement signifies a pivotal moment for Omniyat Group, reaffirming its dedication to reshaping the real estate landscape not only in Dubai but across the broader region. As part of its growth strategy, Omniyat plans to significantly expand its footprint in the ultra-luxury real estate segment, aiming for a total portfolio value of AED50 billion.
Established in 2005 by Executive Chairman Mahdi Amjad, Omniyat was conceived with the vision of revolutionizing the Dubai property market through the creation of unique living experiences. The company has consistently elevated the standards in real estate, driven by a policy of strategic diversification that has enabled it to explore various market segments.
In line with this strategy, Omniyat Group is set to announce a new real estate company in Q3 2024. This new venture will be part of a commitment to invest AED50 billion in new real estate divisions targeting multiple market segments. This initiative underscores Omniyat’s ongoing commitment to understanding market demands and delivering on its bold vision to be “the best in class, in every class.”
By continuously evolving and adapting to market needs, Omniyat Group stands poised to lead the future of real estate in the region, setting new benchmarks in luxury and innovation.
Commenting on the launch, Amjad said: “Nineteen years ago, I founded Omniyat with a clear mission to achieve the unprecedented in Dubai’s real estate sector. A city of superlatives, Dubai is globally renowned for its remarkable story of progress and achievement, and we wanted to bring iconic projects to Dubai’s skyline that stood apart for their design, innovation, and artistry.”
“Encouraged by the UAE’s robust growth and long-term vision and inspired by the success of our ultra-luxury brand, I am establishing Omniyat Group to invest in other brands and companies to address different segments of the UAE’s strong growing real estate market with an uncompromising principle of ‘Best in class, in every class’ we address.”
“Today, Omniyat Group has been announced to drive forward our mission to elevate the people at the heart of our business and contribute to a better life and environment for all stakeholders, employees, clients, and their loved ones,” he stated.
“Guided by an unwavering commitment to excellence, we will continuously strive to raise standards and curate experiences that make life better, in every sector we engage in,” he added.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
