This month, end-users and investors who are planning on purchasing property in Sharjah will receive a discount on registration fee of 50%.
The Sharjah Chamber of Commerce and Industry and Real Estate Registration Department issued a statement.
They said that the discount would be given to people purchasing property at the Sharjah Real Estate Exhibition – Acres 2024, which will take place at Expo Center Sharjah from January 17th to 20th.
Sharjah Real Estate Registration Department’s director-general, Abdulaziz Ahmed Al Shamsi, said that the discount is one of the measures taken for supporting the real estate sector.
He said that there was an increase in population in Sharjah due to higher capital and investments, which means the demand for residential units has increased.
In November 2022, the Sharjah Executive Council Resolution No. 30 had been issued for meeting and enhancing this demand.
This had permitted all nationalities to buy real estate of all kinds, once they get the approval. Various residential, industrial and commercial projects have been launched in the emirate.
He said that this was a reflection of the continuous growth in Sharjah’s real estate sector.
The reduced buying and selling fees that has been approved by the Sharjah Executive Council on real estate transactions will go into effect during ACRES 2024.
Real estate developers will charge a selling fee of 0.5%, while 1% purchasing fee would be applicable to GCC and UAE nationals. A 2% fee would be applicable to people of other nationalities during the exhibition.
The exhibition will showcase over 372 new real estate projects from major real estate developers in Turkey, Jordan, Oman, Egypt, Georgia and the UAE.
Workshops, panel discussions and specialized industry talks in both English and Arabic by market leaders and key industry experts would also be included in the event.
As compared to last year, the exhibition space has increased 60% in order to keep up with the increased demand.
Sharjah Chamber of Commerce and Industry (SCCI)’s director-general, Mohammed Ahmed Amin Al Awadhi, said that the real estate sector in Sharjah is part of its economic diversification strategy.
This is due to the fact that a wide urban renaissance characterizes the emirate, which has allowed it to strengthen its position as one of the top global destinations.
Chairman of the Organizing Committee of Acres and chairman of the SCCI’s Representative Committee of the Real Estate Sector Business Group, Saeed Ghanem Al Suwaidi, also spoke on the matter.
He said that the event would showcase hundreds of real estate projects, both from inside and outside the country.
During the four days of the event, people will be able to enjoy exclusive and competitive real estate offers.
He went on to say that this offered an excellent opportunity to local, foreign and Arab investors and businessmen.