The northern emirate of Sharjah has witnessed a 37.2 per cent increase in the value of real estate trade, which hit Dh8.2 billion ($2.23 billion), during the third quarter compared to the same period in 2016, said a report.

Mortgage transactions reached 894, including 482 transactions valued at Dh3.4 billion ($925 million), stated Emirati news agency Wam, citing figures released by the Sharjah Real Estate Registration Department.

The total number of transactions stood at 11,853 in the third quarter, of which 2,384 were ownership certificates and 811 were sales transactions, said the report.

Sector-wise, the residential transactions topped the list at 483 followed by commercial (181), industrial (123) and agricultural at 24, it stated.

The total traded areas surged to 34,304 million sq ft with the Al Khan area topping the list with 162 transactions, it added.