UAE: Sharjah property demand surges post-expat approval for freehold purchases

The real estate landscape in Sharjah has undergone substantial growth in recent years, and according to a senior official, the sector continues its upward trajectory, having not yet reached its peak. Lamia Al Jewaied, the head of the studies and research bureau at the Sharjah Real Estate Registration Department, identified several key drivers behind this growth, including robust infrastructure development, investor-friendly legislation, and Sharjah’s strategic central location. A pivotal moment in this trajectory occurred with the enactment of a law in late 2022, permitting non-GCC nationals to own property in specific freehold areas.

Al Jewaied underscored that Sharjah’s real estate market is still in the growth stage of the economic cycle. This sustained expansion is being propelled by the introduction of numerous projects offering a diverse range of units to cater to the preferences of different buyers. The global appeal of these projects has attracted investors from various countries.

During the Acres 2024 exhibition at the Expo Centre in Sharjah, Al Jewaied highlighted that property buyers are currently benefiting from a substantial 50% discount on real estate registration fees. This attractive incentive is expected to contribute to high property sales during the exhibition.

Abdulaziz Ahmed Al Shamsi, director-general of the Sharjah Real Estate Registration Department, previously emphasized the correlation between the emirate’s population growth, increased demand for residential units, and its ability to attract investments and capital. The November 2022 Sharjah Executive Council Resolution No. 30, which granted all nationalities the right to own various types of real estate, played a pivotal role in meeting this escalating demand.

Al Jewaied further observed that specific nationalities, including Indians, Pakistanis, and Syrians, display a keen interest in investing in Sharjah’s industrial land, recognizing it as one of the premier areas in the region. In summary, the real estate sector in Sharjah remains dynamic, with positive trends expected to persist, affirming the emirate’s status as a thriving hub for property investment and development.