UAE: Sharjah proposes real estate law changes amidst property surge

Asma Ahmed - | UAE

As the real estate market in Sharjah keeps on rising, the emirate is thinking of passing new regulations to control the industry.

As the property market in Sharjah continues to thrive, the emirate is contemplating new regulations to control the real estate sector. At Tuesday's Sharjah Executive Council (SEC) meeting, real estate legislation was presented under the chairmanship of the Crown Prince and Deputy Ruler of Sharjah, Sheikh Sultan bin Mohammed bin Sultan Al Qasimi.

Legislation to create the Rental Disputes Center and regulate real estate leasing in the emirate has been approved by the Council. Sending these drafts to the Sharjah Consultative Council for their review is the next stage. The Council deliberated on a bill that would establish rental regulations in the Emirate during its meeting.

The goal of this new proposed law is to simplify government processes, safeguard the rights of all parties involved, make life easier for landlords and tenants, and standardize rental regulations in line with real estate demand and urban development.

The report on the ninth session of the Sharjah Real Estate Exhibition (ACRES 2024) has been examined by the council. The event was attended by 93 real estate businesses. Real estate transactions hit 1.3 billion UAE dirhams ($354 million).

Nearly 13,000 people stopped by the show, and 691 people bought something. Sales volume increased significantly, by 202%, between 2023 and 2024, according to the research.

An extensive report, including sales transaction figures and the outcomes of the exhibitors' satisfaction survey, was sent to the Council. The paper went on to mention the participating institutions and businesses, as well as the workshops that took place during the show.

About Author

Asma Ahmed
Asma Ahmed
1499 Total posts

Read Also

Abu Dhabi announces that traffic on some roads will be diverted until June 9

It has been announced by Abu Dhabi that certain routes will be closed till June 9 due to traffic congestion.

Dubai: Statement from the Roads Authority regarding amending traffic times and new lanes

The Roads and Transport Authority and the Dubai Police General Headquarters have revised the schedule for truck traffic on Sheikh Mohammed bin Zayed Road, specifically the segment between Ras Al Khor Street and the Emirate of Sharjah, in both...

A yellow alert was issued for UAE residents due to the weather in the coming hours

A yellow notice has been issued for UAE citizens because of the expected weather in the next several hours.

UAE Airlines issued a new statement regarding international flights to some destinations

UAE Airlines published this announcement about international flights to various destinations.

UAE earthquake: The residents of the Emirates feel an earthquake in some areas

Residents in several regions of the United Arab Emirates have reported feeling the effects of an earthquake.

UAE visa: The UAE will provide new types of long-term visas in 2024

The United Arab Emirates (UAE) will begin offering new sorts of long-term visas in the year 2024.

Abu Dhabi Police warns residents of new scams

The Abu Dhabi Police Department is warning residents about new frauds.

The UAE announces a heavy fine of up to 100 thousand dirhams

The UAE Ministry of Human Resources and Emiratization (MoHRE) said on Friday that more than 1,370 private enterprises will be subject to severe penalties after it was discovered that they had broken the Emiratization regulations.

The UAE imposes fines of up to DH 100,000 on 1,300 companies for Emiratisation violations

The United Arab Emirates (UAE) levies fines of up to DH 100,000 on 1,300 businesses for violations of the Emiratization law.

The UAE announces the deaths of two policemen while performing their duties in Abu Dhabi.

The United Arab Emirates (UAE) reported that two police officers died while performing their duties in Abu Dhabi.

Dubai Police issued special instructions to vehicle owners today.

The Dubai Police Department sent special instructions to car owners today during the President's Cup Finals.

Emirates Airlines provides new job opportunities for residents and gives its employees 20-week bonuses

Emirates Airlines offers new job opportunities to residents and offers 20-week incentives to its employees.

A resident in Dubai wins a million dollars

A woman received a million dollars after using her husband's financial gift to buy a duty-free ticket to Dubai.

The UAE employees take a long holiday on Eid al-Adha

On the occasion of Eid al-Adha, the employees of the UAE take a lengthy vacation.

Airline offers are available in the Emirates on the occasion of the Eid Al-Adha holiday

On account of the Eid al-Adha festival, the Emirates of the United Arab Emirates are offering special deals on airline tickets because of the Eid al-Adha festival.

The UAE announces a single visa that allows its holders to travel to 6 countries for work and leisure

The UAE announced the availability of a single visa that entitles its holders to business and leisure travel to six nations.

The steps to extend a UAE visa: documents and fees required to renew a Dubai visa

The procedures for extending a UAE visa include the necessary paperwork and costs.

The UAE Police explains to employees the procedures for filing complaints against abusive co-workers

Employees receive instructions from the UAE Police on the procedures to follow when filing complaints against abusive coworkers.

The UAE announces a new 10-year blue residency permit

The United Arab Emirates has declared a permanent residence for environmentalists.

New UAE Blue Visa: A new visa for UAE residents for 10 years

The Blue Visa, a new visa for citizens of the United Arab Emirates, is available.

Emirates Airlines Offers Valentine Day Treats and Special Services Onboard