Sharjah is looking at creating new real estate laws. This comes as the emirate continues to see its property sector thrive.
On Tuesday, the Sharjah Executive Council (SEC) met to discuss proposals for new legislation. The laws would cover areas like renting property and renting a dispute center.
The council approved the proposed laws. They will now be sent to the Sharjah Consultative Council for further discussion.
The goal is to update rental rules to match the Emirates’ fast urban growth. New laws aim to:
- Regulate rentals better.
- Develop laws alongside real estate sector expansion.
- Streamline government procedures.
- Protect landlord and tenant rights.
- Make rental processes easier.
The council also reviewed data from a recent real estate exhibition. The 2024 Sharjah Real Estate Exhibition (ACRES) saw:
- 93 property companies take part.
- Nearly 13,000 visitors
- 691 sales transactions
- Total sales worth $354 million
From 2023 to 2024, the emirate saw a 202% jump in property sales volume. This highlights booming demand.
The council got a detailed report on ACRES 2024. This covered:
- Sales figures
- Exhibitor satisfaction feedback
- Supporting companies involved
- Workshops held
Sharjah Property sector is thriving as the emirate keeps expanding. New real estate laws aim to regulate the growing market. They will outline rental rules and dispute resolution processes. This will protect landlord and tenant rights as demand balloons.
