UAE: 50% Discount Offered to Sharjah Property Buyers on Registration Fee – News
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The Sharjah real estate exhibition, Acres 2024, will be held at the Expo Center Sharjah from January 17 to 20. – Stock Photo
Investors and end-users planning to purchase property in Sharjah will get a 50 percent discount on registration fees this month.
A statement issued by the Sharjah Chamber of Commerce and Industry and the Real Estate Registration Department said the discount will be offered to people who purchase properties at the Sharjah Real Estate Exhibition – Acres 2024, which will be held from January 17-20 at Expo Center Sharjah.
Abdulaziz Ahmed Al Shamsi, director general of the Sharjah Real Estate Registration Department, said the discount is part of a series of decisions made to support the real estate sector.
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“The emirate is attracting investment and capital, so the population is increasing, creating greater demand for residential units. Such demand was met and enhanced by Sharjah Executive Council Resolution No. 30 issued in November 2022, which allowed all nationalities to own real estate of all types, after obtaining approval,” he said.
“The emirate is witnessing the launch of several commercial, industrial and residential projects, reflecting the continued growth of the real estate sector in Sharjah,” he added.
The Sharjah Executive Council approved reduced buying and selling fees on real estate transactions to be implemented during ACRES 2024. Selling fees for property developers will be 0.5 percent; purchase fees for UAE and GCC nationals will be 1 percent; while other nationalities will pay only a two percent fee during the exhibition.
During the exhibition, leading real estate developers will showcase more than 372 new real estate projects from the United Arab Emirates, Oman, Jordan, Georgia, Egypt and Turkey.
The event will also feature panel discussions, workshops and specialized industry talks in Arabic and English by key industry experts and market leaders. To accommodate growing demand, exhibition space has increased by 60 percent compared to last year.
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