Sharjah's Real Estate Sector Generated Over $1 Billion in Transactions | Kanebridge News
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Sharjah’s Real Estate Sector Generated Over $1 Billion in Transactions

Wed, Feb 21, 2024 4:08pmGrey Clock 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.



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Tonino Lamborghini Unveils New Luxury Residences in Ras Al Khaimah

Tonino Lamborghini recently revealed a new luxury project comprising 241 units in Ras Al Khaimah, developed in partnership with Arista Developments.

Tue, May 21, 2024 2 min

Named the Tonino Lamborghini Residences, this project promises a fresh take on luxury living with its iconic design, cutting-edge amenities, and stunning sea views.

Set on Al Marjan Island, the development is adding 241 high-end units to the area’s real estate offerings, all reflecting the sleek, Italian elegance associated with the Lamborghini name.

These residences are designed to impress, featuring modern architecture that harmonizes with the scenic surroundings and interiors marked by meticulous craftsmanship and top-quality finishes.

Living in this one of the project’s units means access to a range of upscale amenities: a state-of-the-art fitness center, multiple swimming pools, beautifully landscaped gardens, and dedicated areas for children’s play. The complex also offers a business center with a conference room, an outdoor BBQ area, and a chic café, catering to all aspects of high-end living.

Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, expressed excitement about the introduction of Tonino Lamborghini Residences to Al Marjan Island, noting the project’s blend of sustainable construction and smart home technologies. This integration, he mentioned, guarantees a luxurious lifestyle equipped with the finest modern amenities, reflecting the exquisite Italian craftsmanship. He is confident that this new venture with Arista Developments will significantly boost the allure of Al Marjan Island as a top lifestyle destination in Ras Al Khaimah for both investors and residents.

Tonino Lamborghini, President of the Tonino Lamborghini brand, said: “We are delighted to be among the pioneers in this remarkable new destination in one of the seven emirates of the UAE. Our heartfelt gratitude and recognition go to H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for his visionary leadership and foresight, and for embracing innovative strategies to revitalize a region full of potential.”

Mr. Arthur Chu, Chairman of Arista Developments, highlighted the project’s ambition to capture the essence of the Tonino Lamborghini brand in every aspect of its design. He described the development of a prestigious residential tower on Al Marjan Island that will reflect the lifestyle and beauty synonymous with Lamborghini. From the sharp, well-defined lines of the exterior to the elegantly designed interior common areas, every detail is crafted to showcase the brand’s distinctive elegance and sophistication. Chu emphasized that the interior designs, personally crafted by Tonino Lamborghini, aim to fully immerse residents in the Italian brand’s luxurious identity.

The variety in housing options is vast, ranging from one and two-bedroom apartments to duplexes, sea view villas, signature villas, and exclusive penthouses.

The collaboration between Tonino Lamborghini and Arista Developments blends iconic Italian style with expert real estate craftsmanship. This venture marks Lamborghini’s first introduction to Ras Al Khaimah and represents a commitment to setting new standards in luxury and modern living.

 

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