Registration fees for investors and end-users planning to purchase real estate in Sharjah will be reduced by fifty percent this month.
According to a statement that was released by the Real Estate Registration Department and the Sharjah Chamber of Commerce and Industry, the discount will be made available to individuals who are interested in purchasing property during the Sharjah Real Estate Exhibition – Acres 2024, which will take place at Expo Centre Sharjah from January 17 to January 20.
The goal of this discount
Director-general of the Sharjah Real Estate Registration Department Abdulaziz Ahmed Al Shamsi stated that the discount is an implementation of a sequence of measures intended to bolster the real estate industry.
Due to the fact that the emirate is attracting investments and capital, the population is growing, which in turn leads to an increase in the demand for residential units. Such demand was satisfied and strengthened by the Sharjah Executive Council Resolution No. 30 issued in November 2022, which permitted all nationalities to acquire real estate of all kinds, after gaining the approval,” he said.
Launching residential, commercial and industrial projects
"A variety of residential, commercial, and industrial projects are being inaugurated in the emirate, reflecting the continuous expansion of Sharjah's real estate market," he continued.
Discounted fees for buying and selling real estate
The Sharjah Executive Council has given its approval to the implementation of reduced fees for buying and selling real estate transactions, which will take place during the ACRES 2024 administration. When it comes to the exhibition, the selling fees for real estate developers will be 0.5 percent, the purchasing fees for nationals of the United Arab Emirates and the Gulf Cooperation Council will be 1 percent, and other nationalities will only be required to pay a modest two percent fee.
During the course of the exhibition, major real estate developers from the United Arab Emirates, Oman, Jordan, Georgia, Egypt, and Turkey will present more than 372 new real estate projects.
The event will also feature panel discussions, seminars, and specialised industry speeches in both Arabic and English by important industry experts and market leaders. In order to handle rising demand, the display space has risen by 60 per cent compared to previous year.
