This month, investors and end users who intend to purchase real estate in Sharjah will receive a 50% discount on registration fees.
The discount is available to buyers at the Sharjah Real Estate Exhibition – Acres 2024, which takes place at Expo Centre Sharjah from January 17 to 20, according to a statement from the Real Estate Registration Department and the Sharjah Chamber of Commerce and Industry.
The discount is one of several choices made to assist the real estate industry, according to Abdulaziz Ahmed Al Shamsi, director-general of the Sharjah Real Estate Registration Department.
“The emirate is attracting investments and capital, hence the population is increasing, resulting in increased demand for residential units. Such demand was met and enhanced by the Sharjah Executive Council Resolution No. 30 issued in November 2022, which allowed all nationalities to own real estate of all kinds, after getting the approval,” he said.
“The emirate is witnessing the launch of various commercial, industrial, and residential projects, which reflects the continuous growth of the real estate sector in Sharjah,” he added.
Reduced buying and selling fees on real estate transactions were approved by the Sharjah Executive Council and will be incorporated during ACRES 2024. Real estate developers will pay a 0.5% selling fee, while UAE and GCC nationals will pay a 1% purchasing fee. Other nationalities will only be required to pay a 2% fee to attend the exhibition.
Major real estate developers from the UAE, Oman, Jordan, Georgia, Egypt, and Turkey will exhibit over 372 new real estate projects during the exhibition.
In addition, the event will include workshops, panel discussions, and specialized industry talks by prominent market leaders and industry experts in both Arabic and English. The exhibition space has expanded by 60% over the previous year to meet the increased demand.
The real estate industry, according to Mohammed Ahmed Amin Al Awadhi, director-general of the Sharjah Chamber of Commerce and Industry (SCCI), is one of the pillars of the emirate’s economic diversification strategy because Sharjah is known for a broad urban renaissance that has enhanced its standing as a top travel destination worldwide.
Saeed Ghanem Al Suwaidi, chairman of the Representative Committee of the Real Estate Sector Business Group at (SCCI), and chairman of the Organising Committee of Acres said hundreds of new real estate projects from inside and outside the country would be displayed, providing competitive and exclusive real estate offers during its four days. He went on to say that this is a fantastic chance for Arab, international, and local investors and businesspeople.