Sharjah Real Estate Sector Remains Most Stable in e...

Thanks to the balanced and farsighted policies of Sharjah's leadership, the Emirate continues to witness an unprecedented boom in various sectors, including the real estate sector. This sector managed to gain the confidence of investors over the past years, representing a safety valve for the market, said HE Khalifa Al Shaibani, Director General of Tilal Properties, Director General of United Investment and Director General of Basma Group.

Thanks to the balanced and farsighted policies of Sharjah's leadership, the Emirate continues to witness an unprecedented boom in various sectors, including the real estate sector. This sector managed to gain the confidence of investors over the past years, representing a safety valve for the market, said HE Khalifa Al Shaibani, Director General of Tilal Properties, Director General of United Investment and Director General of Basma Group.

Commenting on the various big-ticket real estate projects unveiled by the Emirate, including by Tilal Properties and Sharjah Holding, recently, Al Shaibani said: Thanks to the wise leadership of HH Sheikh Dr Sultan bin Mohamed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of HH Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, Sharjah has been witnessing a boom in various sectors, including the real estate sector. This sector managed to gain the confidence of investors over the past years, representing a safety valve for the market. Sharjah's real estate market had been the least affected by the economic crisis that hit the world a few years ago for many reasons, including the balance of supply and demand and the confidence of investors in Sharjah's market, as well as market prices, which managed to remain within a reasonable range.

He said that the real estate market in Sharjah is among the most stable in the region, thanks to the confidence of investors, the valuable opportunities it offers, the laws that regulate it, and Sharjah's modern infrastructure and prestigious international status.

Legal Safeguards for Buyer and Seller

Lauding the adequate legal protection that protect both the seller and buyer, he said, There is no doubt that laws regulate the real estate market and guarantee the rights of all the parties involved, including developers and investors. The Sharjah Executive Council recently issued a resolution that allows foreign investors the right to own properties in Sharjah for up to 100 years. Fortunately, this resolution came into effect with the launch of Tilal City project, which was welcomed by investors and heralded the beginning of a new era in the future of Sharjah's promising real estate sector.

Tilal Properties

Talking about Tilal Properties, he said it was launched in November 2014 as a joint venture between Sharjah Asset Management and Eskan Real Estate Development LLC. One of its first project was the flagship Tilal City. Tilal Properties took upon itself to develop quality projects in the Emirate. Covering an area of 25 million square feet along Emirates Road, Tilal City is the first model community of its kind in Sharjah. It is also the first development available on a 100-year leasehold basis for all nationalities.

Upcoming Projects

Speaking about the upcoming projects in Sharjah, he said Tilal Properties will soon unveil Tilal Mall project, the first of its kind in Sharjah. The consultant has been selected and the designs finalised. The project will constitute a leap in the retail market and cater to the shopping needs of residents in Tilal City and neighboring areas in particular and in Sharjah and neighbouring Emirates in general, he said.

Talking about the Sharjah Expo Hotel, he said the necessary designs have been completed and approvals obtained. On-site work will commence within the next three months to result in an architectural masterpiece and a new hotel stay experience for both business and leisure guests. Thanks to its strategic location, Sharjah Expo Hotel is set to serve business executives visiting the various exhibitions held at Expo Centre Sharjah, as well as guests of the Chamber of Commerce and Industry, which is a strategic partner in the project, he added.

The Majlis Grand Mercure Sharjah Resort and Spa is also seeing final touches being put on its architectural designs and construction is scheduled to begin in the third quarter of this year. The project is expected to result in a tourist attraction and a unique hotel stay experience by the sea.

Sharjah Holding

Sharjah Holding is another landmark initiative which came about as a strategic partnership between the Government of Sharjah and Majid Al Futtaim Properties. The desire was to create a new community focussed real estate developer that could combine the leadership's bold vision of a modern Sharjah with the technical and market know-how required to make this a reality. This mission has already started to bear fruit with the launch of Matajer, the neighbourhood retail concept, and Al Zahia, an integrated residential community in the heart of new Sharjah.

Matajer, the Neighbourhood Shopping Centre

Matajer is a neighbourhood shopping centre concept that brings high quality retail brands and services to your community. Anchored by a leading supermarket chain, and featuring a range of high quality retail and food and beverage brands, Matajer brings the design, quality and ambiance that consumers have come to expect from the Majid Al Futtaim shopping malls to local communities. Sharjah Holding values its relationship with retailers and seeks to ensure long term success for all parties. First Matajer opened at Al Quoz in September 2011 and many more Matajer centres are coming up.

Al Zahia Community

Al Zahia is an integrated mixed-use community, featuring a range of villas, apartments and commercial

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