In 2024, the value of real estate transactions in Sharjah surged by nearly 48 percent, driven largely by increased foreign investment. This growth comes three years after the emirate updated its real estate laws to attract a broader range of investors.

According to a report by Savills real estate agency, the number of nationalities investing in Sharjah rose from 103 in 2023 to 120 in 2024, with a notable increase in participation from Asian buyers. The total value of real estate transactions reached approximately $11 billion last year, marking a substantial year-on-year increase.

Shane Breen, head of Sharjah and the Northern Emirates at Savills, highlighted that major developers like Alef and Arada have responded to this demand by launching large-scale community projects such as Masaar, Hayyan, and Aljada, which have all reported strong sales.

As property prices in Dubai rise, many buyers are now considering Sharjah as a more affordable alternative, particularly in well-connected areas like Aljada, Al Zahia, and Maryam Island. Breen noted that affordability is a critical factor, especially for families and mid-tier investors who seek better value while remaining close to Dubai.

Recent data from ValuStrat indicated that the average cost of buying an apartment in Dubai increased by 24 percent, while villas saw a rise of 32 percent. With expatriates making up about 1.6 million of Sharjah’s 1.8 million population, many of whom work in Dubai, the appeal of Sharjah as a housing option continues to grow.

While Emiratis remain the largest buying group in Sharjah, there is a shift toward a more diverse investor base. Developers are now tailoring their offerings to meet the preferences of international buyers. Rohit Bachani, co-founder of Merlin Real Estate, remarked on the emirate’s transformation, stating that Sharjah is now seen as a viable alternative to the soaring costs in Dubai, supported by improved connectivity via national highways.