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LAWS AND LEGISLATION THAT PROMOTE THE VALUES OF INVESTMENT IN SHARJAH REAL ESTATE

25 Dec 2017


In the past few years, the Emirate of Sharjah has enabled the leadership of His Highness Sheikh Dr. Sultan bin Mohammed Al Qassimi, Member of the Supreme Council and Ruler of Sharjah, to follow His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah. The most important pillars that supported the arrival of the emirate to the highest stages of development and prosperity. 
The real estate sector has succeeded in gaining the confidence of investors over the past years due to the legal frameworks governing the real estate sector and the system of legislations that have contributed to creating a safe environment for real estate investment that guarantees the rights of dealers and covers all branches and activities of the sector.
The legal environment governing the real estate sector in the Emirate of Sharjah has witnessed remarkable developments in its legislations in line with the needs of the markets. This has been reflected in the attraction of major international companies and the remarkable growth of the market. The most important of these is the right to own property and to use the real estate, and the recent approval of the right of ownership of non- In the state in some real estate projects approved by the government.


Officials and heads of real estate companies and experts stressed the importance of specialized laws and regulations to regulate the real estate market to attract safe investments, which is reflected in the economic growth in general and the increase in gross domestic product, pointing out that Sharjah has succeeded in guaranteeing the rights of dealers in the real estate market and keep abreast of all the latest developments in this sector and intervention To address any weaknesses through sound legal solutions. 
Attractive environment

Advisor to the Department of Real Estate Registration in Sharjah, Advisor Humaid Alabbar, said that the emirate's leadership has succeeded in enhancing the elements of creating an attractive environment for real estate investment through the strength and strength of the legislations and laws regulating the operations of the real estate and investment market. 
Alabbar pointed to the provision and diversification of investment opportunities, and work to establish a strong infrastructure, with the associated monitoring of budgets required, which reflected the creation of an attractive environment for investment.
Alabbar pointed to the issuance of the Executive Council Resolution No. 26 of 2014 on the right of ownership and use of real estate, the recent approval of the right of ownership of non-resident Arabs and the right of use for foreigners who are not resident in the State in some real estate projects approved by the government. Encouraging investment in Sharjah and attracting more new investors and entrepreneurs who have not previously benefited, and contributing to the revitalization of the local economy and the promotion of economic development. 
Alabbar added that the existence of this legislation within the control of real estate transactions according to legal frameworks limit the transactions that were conducted in the subcontractors by those who are not entitled to use the purchase of property through informal agencies, and does not reserve their rights as beneficiaries


The Advisor to the Real Estate Registration Department said that Sharjah is represented by its legislation and laws as an attractive and safe environment for real estate investment and a forum for money and business. The businessmen contribute through their projects in the service of man before the place. He pointed out that Sharjah has succeeded in attracting large projects amounting to billions of dirhams during The past three years have varied between residential, commercial and industrial. 
Alabbar added that the projects are proceeding at a balanced pace in which the supply is commensurate with the level of demand and the needs of the market, and this can be attributed to the efforts of the Department on the one hand and to the new development projects that address the need of the real estate market, including residential, commercial and industrial units.

Urban renaissance

Sultan Al Shukra, CEO of Sharjah Oasis Real Estate Development Company, said that the projects announced in Sharjah confirm that the emirate is experiencing a real estate boom with a demand for investment in various real estate activities. This demand is strongly supported by the infrastructure and legislation that contributed to the existence of a real estate market In the Emirate of Sharjah, so we see that the rise in prices or decline is in accordance with reasonable rates compared to other markets even during the global financial crisis, the real estate market in Sharjah proved a great ability to resist the challenges. 
He added that the laws governing the real estate market in Sharjah have been developed in a proactive manner, so that it was able to address any future problems that may occur in the real estate sector or investment in general.
Sultan Al-Shukra stressed that the strong belief in the strength of the real estate sector in Sharjah has led the company to develop one of the largest real estate projects in the Emirate, Sharjah Waterfront City, the most beautiful place. He noted that the real estate sector is a key pillar in the growth and development of Sharjah. Dr. Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, in providing a safe, stable and attractive environment for real estate investment. 
He explained that the laws and regulations that allowed foreigners and residents of the UAE to buy property in areas where the government allows it. Under the new laws, non-Arab nationals were allowed to own 100% of the properties in the system of usufruct in government-approved projects, increasing the demand for real estate projects and investment in the sector, which led to an increase in economic growth rates in the emirate.
He stressed that all companies are working to achieve the interests of the investor and the sector, pointing out the need for companies of this size to be able to meet the needs of the Emirate of Sharjah real estate, pointing to the reflection of Sharjah's legislative and regulatory environment 

Opportunities

Khalife Al Shaibani, General Manager of Talal Real Estate Company, stressed the importance of the real estate sector in the emirate in the past few years. The most important of these was the ability to win the confidence of investors from all over the world. On the map of real estate investment in the region through close cooperation between public and private sector institutions to ensure smooth procedures and speed of delivery. The directives of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, Abundant environment suitable for investors under implementation, so as to ensure safe investment environment and ensure return on investment.
Shibani explained that the real estate market has become characterized by a variety of investment opportunities. The Government of Sharjah has established a solid infrastructure, which has been reflected in the various laws, regulations and facilities for investors to make this market one of the most active markets in the region, praising in this regard the role played by Executive Council of the Emirate of Sharjah under the chairmanship of HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and the Council's prominent role in overcoming difficulties for investors.
Dr. Faisal Ali Mousa, Chairman of FAM Holding, said: "The real estate sector in Sharjah is characterized by strength, robustness and maintaining the required balance between supply and demand, which clearly showed investor confidence in Sharjah and its real estate sector." The projects announced in Sharjah During the past year and the current year confirms that the emirate is witnessing a renaissance of real estate in the presence of demand to invest in various real estate activities, and this demand is strongly supported by the infrastructure and legislation that contributed to the existence of a healthy real estate market in the emirate of Sharjah, and expressed confidence that the next few years Will be an important station for the real estate scene in Sharjah, which comes as a result of the regulations and legislation that contribute to the acceleration of real estate growth.

He praised the vision of His Highness the Ruler of Sharjah to encourage and attract investments and support the emirate's economic standing. He pointed out that the growing investment fundamentals in Sharjah are supporting the aspirations of many investors. 
Al-Azza: The most stable in terms of prices 
Shadi Al-Azza, Chief Executive Officer of Al Majaya, said: "The real estate sector in Sharjah is one of the most stable sectors in terms of prices and attractive to different categories of investors. The emirate has a distinctive geographic location, modern infrastructure, high-quality service facilities, and a safe environment that makes it a favorite place to stay, visit and work. 
Issa Ataya: Investor looking for a safe environment
Mr. Issa Attaya, General Manager of Group A, affirmed the stability of the return on real estate investment in the emirate of Sharjah in the context of the safe investment environment provided by the Emirate, referring to the "Walkway" project implemented by the company in Sharjah. The emirate, where the project has achieved record sales in various units, which confirms the great growth experienced by the real estate sector in the emirate. 
Attaya stressed that the high volume of investment in the real estate sector in the emirate of Sharjah confirms the interest enjoyed by this sector in the emirate of interest from investors from around the world