Construction & Real Estate
From The Report: Sharjah 2017
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As the third-largest economy of the seven emirates that make up the UAE, Sharjah has a large population and a strategic location for regional connectivity, as well as significant real estate activity, all of which contribute towards an expanding construction sector. The emirate has several major real estate projects under construction, many of which are mixed-use developments that could have a big impact on the emirate’s property market. The opportunities available in Sharjah today have drawn the interest of many more companies from the rest of the UAE, and from other GCC countries, to get involved in the near future, further opening the emirate to outside investments.

Articles from this Chapter

Overview

Steady growth: The sector is benefitting from ongoing public works as well as strong demand for residential property
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As the third-largest of the seven emirates that make up the UAE, Sharjah has a large population and a strategic location for regional connectivity, as well as significant real estate activity, all of which contribute towards an expanding construction sector. The emirate has several major real estate developments under construction, many of which are mixed-use developments that could help to radically transform the landscape in the emirate (see analysis). The opportunities available in Sharjah nowadays…

Analysis

Landmark projects: Several large mixed-use developments are taking shape
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Sharjah is attempting to step out of the shadow of its larger neighbour, Dubai, with the development of a number of major signature projects that could significantly reshape its construction landscape. Many of these projects are mixed use, with master plans involving residential properties, commercial spaces, large-scale shopping malls and, in some cases, hotels and even an amusement park. Waterfront View Several large-scale, mixed-use developments are under construction, pointing to a new trend…

Overview

Attractive market: As demand for property remains strong, an increasing number of developments are under way
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It is difficult to overstate the importance of real estate to Sharjah – along with business services, real estate accounts for 21% of the emirate’s economic activity, with residential real estate forming a large chunk of that. While prices have fluctuated over recent years, and dropped in 2016, occupancy rates have remained at almost 100%, showing the strength of demand in the market. Meanwhile, with the recent regulation changes that now allow non-UAE nationals to buy property on a leaseholder…

Analysis

Welcoming all: Foreigners are now allowed to invest in leasehold property in specified developments
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With leasehold ownership regulations for foreign nationals in place and property more competitively priced than in Dubai, Sharjah is set to succeed in attracting significant international investors to its real estate sector. Until the recent global financial crisis, Sharjah’s rules prevented anyone who was not an UAE national from owning real estate in the emirate. These restrictions were then relaxed to allow GCC nationals to buy leaseholds. In 2014, for the first time, Sharjah passed a law…