Sharjah’s real estate sector saw a volume of transactions valued at AED6.7 billion during the first quarter of 2021, with a growth rate of 84.9 percent, compared to the first quarter of 2020, according to a report issued by the Real Estate Registration Department.

The total number of transactions executed in the past three months reached 20,448 transactions, with an increase of 10.3 percent, compared to the same period last year. In addition, the total traded area in the emirate reached 60.3 million square feet.

In this context, Abdulaziz Ahmed Al-Shamsi, Director General of the Real Estate Registration Department in Sharjah, stated that the outcome of the real estate transactions in the emirate during the first quarter of 2021 is evidence of the sector’s gradual recovery. In addition, investors’ confidence was restored through the benefits of the set of incentives, facilities, and exemptions that was presented in November by the Sharjah government, represented by the Executive Council of the emirate. It also contributed significantly in supporting entities and institutions in the government and private sectors, business sectors and individuals, which also enabled them to overcome the effects of the Covid-19 crisis in a manner that ensures the continuity of economic development in various sectors.

Al-Shamsi added that the sector also benefited from the decision of the Sharjah government regarding reducing buyer fees for non-Gulf Cooperation Council citizens from 4 percent to 2 percent of the sale value, which makes it similar to Gulf citizens’ investors’ fees. This decision took effect at the beginning of last November, which encouraged investors to conduct more real estate deals in the last quarter of 2020 and the first quarter of 2021. In addition, after the significant growth of trading activity in some areas of the emirate, such as Hoshi and Rodhat Al-Qrt, and due to the projects proposed by the government in these areas, the ownership was permitted for Arab investors and owners.

Moreover, the announcement of Sharjah government about launching and implementing several major development projects in the cities of the Eastern Province also represented additional support to revitalise the sector, with plans to return to the normal conditions seen before the crisis.

Investors from 43 nationalities and different countries were involved in real estate transactions in Sharjah in the first quarter of the year, with 4,125 investors. These included 3,214 investors from the GCC countries, who traded 5,771 properties worth AED 5.3 billion, while 911 foreign investors traded 1,036 properties, at a value of AED1.4 billion.

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His Excellency Abdulaziz Ahmed Al Shamsi, Director General of the Real Estate Registration Department in the Emirate of Sharjah, revealed the volume of real estate transactions during the month of February in the emirate, as the number of transactions reached 1818 transactions with a value of 3.5 billion dirhams.

Al Shamsi explained that the number of sales transactions in the emirate amounted to 457 transactions, representing 25.1% of the number of transactions, while the number of mortgage transactions reached 244 transactions, representing 13.4% of the number of transactions, while the number of other transactions transactions reached 1117 transactions, representing 61.5%.

With regard to the number of transactions according to the type of property, Al Shamsi pointed out that the number of vacant land transactions in the Emirate of Sharjah reached 170 transactions, while the number of built land transactions reached 140 transactions, and the number of detached tower transactions reached 147 transactions during the month of February. Sales transactions, so Rugaiba registered the highest number with 66 sales transactions.

And Al Shamsi noted that last February, a major real estate acquisition deal was concluded between real estate development companies operating in the emirate at a value of 690 million dirhams in order to establish a luxury residential real estate project on an area of ​​19 million square feet, which reflects the companies’ confidence in investment and development in the emirate by offering products Unique and distinct real estate, due to the stability of economic conditions and the economic feasibility of investment.

He praised the interest of women and businesswomen to invest in the Emirate of Sharjah, explaining that the value of investments made by women in the real estate sector reached one billion dirhams in the last year 2020.

Al Shamsi stressed that the Emirate of Sharjah represents an attractive environment for investment by businessmen and women in the region, given its incentive laws for investment and the great facilities that the emirate provides to the business sector, which was positively reflected on the growth of the real estate market in the emirate during the last period despite the fact that Corona pandemic.

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Sharjah City Municipality (SCM) has undertaken a series of steps to to improve and develop the building system in the emirate, raise efficiency of buildings, and increase their quality and lifespan.

The municipality has carried out several development studies and held many engineering conferences, lectures, workshops and seminars towards this end.

Thabit Al Turaifi, Director General of Sharjah Municipality, said that the municipality is among the oldest municipalities in the country, dating back to 1927. It has a long-standing database since the first building permit was archived in 1961 that includes detailed data for each building — from the beginning of its establishment, the stages of its implementation until the stage of completion and the issuance of a certificate of completion.

The database also includes the stages of periodic maintenance for each building and the municipality procedures to ensure proper implementation. The age, condition and degree of stability of the building is verified through the information registered in the database for each building in the emirate, along with an estimate as to how long it will last.

The municipality has taken several steps to modernise and develop the engineering work system, including issuing a list of building conditions and specifications in the emirate in 2002, then updating it in 2007 and 2017. This includes the foundations and specifications of construction in the emirate according to the latest international codes.

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In implementation of the directives of His Highness Sheikh Dr. Sultan bin Mohamed Al Qasimi, Supreme Council Member and Ruler of Sharjah, the Sharjah Directorate of Town Planning and Survey (SDTPS) announced new names and administrative divisions for a number of areas in Al Suyoh and Al Rahmaniya suburbs.

According to the new amendments, the names of the areas of (Al Suyoh from 1 to 8) were changed to become (Al Rugaiba from 1 to Al Rugaiba 8), and the names of the areas (Al-Suyoh 9 to Al-Suyoh 16) were changed to areas (Al Mwarada 1 to Al Mwarada 8), also “Shagarafa” park into 4 areas from (Shagrafa 1 to Shagrafa 4), instead of Al Rahmaniya 1 to Al Rahmaniya 4), and the areas surrounding Kshisha Park were divided into areas (from Kshisha 1 to Kshisha 6) instead of Al Rahmaniya 5 to Al Rahmaniya 10). For “Sha`abiyat Al Saja`a” to “Sha`biyat Al Dafin”, and keeping the name of Mezaira’a unchanged.

The country’s response to coronavirus is a key reason for the result, a new study indicates the UAE has emerged as the 13th most preferred destination where foreign nationals would like to work, up from the 19th spot in 2018, with the country’s response to coronavirus cited as a key reason for its enhanced attractiveness.

In the same survey of approximately 209,000 people in 190 countries by Boston Consulting Group (BCG) and Bayt.com, Dubai ranked third in the city rankings, up from sixth in 2018. Abu Dhabi ranked fifth, sustaining last year’s position.

“The UAE’s status as being less impacted by the pandemic than other countries is a key factor behind its heightened appeal on the world stage, with several notable cities now considered much less appealing compared to two years ago,” said Christopher Daniel, managing director and partner, BCG Middle East.

“Dubai and Abu Dhabi are among the latest success stories in the global city ranking, solidifying their improved positions on the back of the UAE proving to be a regional haven in a year of crisis,” he added.

For Dubai specifically, respondents cited renewed Expo 2021 potential and the swift restart and support of the private sector during recent times as particular attraction points, according to Decoding Global Talent, Onsite and Virtual joint report by BCG and Bayt.com, elaborating on the study’s findings.

Abu Dhabi’s ranking has been attributed to the government’s commitment to overhaul its processes, the proximity of people to leadership, high government investment, and a new economic development strategy.

Broadly reflecting the composition of UAE’s population, 90 percent of the country’s survey participants were expats with an average age of 38.

“Given that the national workforce is heavily comprised of foreign workers, the country attracts a highly mobile workforce and 94 percent of UAE workers were also willing to work abroad in 2020 compared to 50 percent globally,” explained Daniel.

While there is now less willingness to move to a foreign country globally, respondents demonstrated a high level of enthusiasm to stay home while working for a foreign employer, with 57 percent of global respondents and 50 percent of Emirati nationals indicated they wouldn’t be willing to move for work.

“The job market has witnessed many changes over the past few months. The Covid-19 pandemic has placed companies in every industry under pressure to make the transition to virtual workplaces. As such, the vast majority of professionals and businesses have adopted remote working, enabling them to remain competitive and ensure continuity,” said Ola Haddad, director of Human Resources at Bayt.com.

“Restrictive immigration policies have already weakened the mobility trend,” said Rainer Strack, BCG senior partner and one of the authors of the study.

“Covid-19 is a new variable that is making people cautious about considering international relocation. With the rise of remote working, many may feel that they can further their careers virtually, without needing to move at all,” he continued.

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His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Executive Council of the Emirate of Sharjah, and in the presence of His Highness Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of the Executive Council, yesterday morning at the Ruler’s Office, the meeting of the Executive Council of the Emirate.
The council discussed the Real Estate Registration Department’s proposals on developing the services provided in the department, as part of its relentless endeavor to provide an appropriate and incubating environment for real estate investment.
He viewed the memorandum submitted by the Sharjah Police General Command regarding the development of police work and the improvement of the security services provided. The Council reviewed the agenda of the eleventh session of the second ordinary session of the tenth legislative session of the Sharjah Consultative Council, which will be held tomorrow, Thursday, February 18, in which it will discuss the policy of the Department of Economic Development.
The council listened to the recommendations of the advisory council on discussing the policy of the Sharjah Radio and Television Authority, and the recommendations of the Council regarding the policy of the Roads and Transport Authority, with the aim of promoting government work in local departments and institutions, and achieving the comprehensive development adopted by the emirate.
During the session, a number of issues related to the public affairs of the emirate were also discussed, and the council took appropriate decisions on them.

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His Excellency Khalifa Al Shaibani, Director General of Tilal Properties, affirmed that the “Hope Probe” has successfully reached the Red Planet which marks a new era for humanity where hope, knowledge and new discoveries will serve the world. It is an era that will become a source of inspiration for the UAE and the Arab world, where new inventions and scientific discoveries will become the norm

His Excellency’s also shared his thanks, appreciation and gratitude to the wise leadership and intelligent personnel who closely followed and monitored the the path of Probe Al-Amal and provided it with all forms of support in order to successfully complete its journey. His Excellency identifies that complete success was the sole goal and thoughts of failure never corrupted their focus on their mission.

Moreover, His Excellency Al-Shaibani stated that “The arrival of the “Hope Probe” to Mars is considered one of the biggest achievements, recorded in proud letters on our history books, for our leadership and our people, in addition to the many series of achievements made by the UAE and its important position among the ranks of the major countries in the world”.

The UAE has been ranked first in the in the region, and fourth globally in the Global Entrepreneurship Index (GEI) 2020 by the Global Entrepreneurship Monitor (GEM – NECI), climbing up from its fifth ranking in the 2019 report. The country has outperformed many of the major global economies such as the United States, Canada, the United Kingdom, Australia, European Union countries, China, Japan and South Korea in the overall rankings of the index.

The UAE achieved advanced rankings in many of the sub-indicators included in the general index structure in its 2020 version. Most notably, the country ranked second in the National Governments’ Response to the COVID-19 lockdown and its impact on the entrepreneurial sector.

The UAE also ranked high on the General Physical Infrastructure and Services indicator access with 7.3 points out of 10, outperforming United Kingdom, the United States, Spain, Austria and Germany. The country also achieved the same score on the Cultural, Social Norms and Society Support.

Furthermore, the country also ranked high in the sub indicator R&D Level of Transference, along with the Kingdom of Norway and Italy, ahead of Germany, the United States, the United Kingdom, Sweden, South Korea.

Abdulla Bin Touq Al Marri, UAE Minister of Economy, said that the achievement is a matter of great pride, which confirms the soundness of the approach and the strength of the economic policies pursued by the UAE, with the support and guidance of its wise leadership. The UAE’s fourth ranking globally in the Global Entrepreneurship Index indicates the success of national efforts made over the past decade to develop the country’s entrepreneurship sector and highlight the projects model of SMEs as a main driver of economic diversification and sustainability and raise its competitiveness at the global level.

Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs said that the country’s excellent global ranking in GEI reflects the success of its efforts and ambitious aspirations that stem from the insightful vision of its wise leadership. This indeed is a valuable addition to the country’s record of outstanding economic achievements. These efforts will continue in cooperation with the Ministry’s partners inside and outside the country to make Emirati entrepreneurs the best and most successful in the world in the coming years, he said.

GEI is one of the indicators of the UAE Vision 2021 national agenda, under the axis of ‘Competitive Knowledge Economy,’ supervised by the Ministry of Economy, with the contribution of a national team and with the participation of many stakeholders in the country. These include the Prime Minister’s Office; the Statistics and Federal Competitiveness and Statistics Cntre; the Khalifa Fund for Enterprise Development; Dubai SME; and the departments of economic development.

The report is the largest study on entrepreneurship and its activities in the world and includes a summary of the research that the Observatory conducts on global economies to evaluate the state of entrepreneurship in various countries. The report’s methodology focuses on achieving three main objectives: measuring differences in entrepreneurial activity across world economies and understanding the ecosystem of entrepreneurship; discovering the factors affecting it; and proposing policies that can help enhance the level of entrepreneurial activity in the participating countries.

The index evaluates participating countries on many sub-indicators within a flexible structure that includes aspects such as finance, government policies, and government programs for entrepreneurs, research and development and knowledge transfer, teaching entrepreneurship skills in school and university education, labor market dynamics, and supportive infrastructure and the culture and societal outlook in support of entrepreneurship, among others.

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https://sharjah24.ae/en/articles/2021/02/05/UAE-ranks-first-regionally-and-fourth-GEI-Index-2020

Khalifa Al Shaibani: The real estate sector in the Emirate of Sharjah is returning to the path of growth and recovery

His Excellency Khalifa Al Shaibani, Director-General, Tilal Properties, affirmed that the real estate sector in the Emirate of Sharjah is gradually returning to the path of growth and recovery. The package of government incentives provided exemptions and massive reductions across various services and facilities, supporting the growth and stability of the economy. This move further encouraged developers to continue working on their existing projects and complete it in their estimated time.

According to a survey conducted by Tilal Properties in cooperation with Omnes Media, 40 per cent of the public still believe that investing in the real estate sector is safe despite the current circumstances, whereas five per cent believe that investing in real estate is a safe option in terms of protecting investment. A remarkable 44 per cent of those surveyed said that the developer’s reputation is the most important factor affecting their decision to buy a property.

Al Shaibani revealed that they expect the market to improve significantly post the COVID-19 period, as the Emirate is known for providing investment security, economic stability along with zero risk factors. Tilal Properties in particular, is diligently working towards completing several of its projects. Currently, the Naseem villas and residential complexes built in Tilal City is nearing 90 per cent completion and will boast of several state-of-the-art services and facilities, emulating the highest standards of quality. The project is scheduled to be open to the public towards the end of this year.

The Emirate enjoys a diverse economy across many sectors, including, gas, tourism, education, healthcare and logistics services. Besides, its strategic location and strong infrastructure have contributed to strengthening its investment position in the UAE and abroad. Sharjah is also distinguished by a vast and rich history, with culturally and educationally symbolic edifices located throughout the emirate, including museums and traditional markets. The Emirate is also home to several luxurious urban developments located on its coasts and lakes, offering breathtaking panoramic views to its residents. Some of these include the Al Mamzar neighbourhood, Al Khan and Khalid Lake located in the city centre.

Al-Shaibani further stated that, despite the current circumstances caused by the outbreak of COVID-19, work across several large real estate projects and modern high-rise towers continue in full swing. The real estate market has recorded a strong recovery in the post- COVID-19 period, resuming several of its big projects, including launching of one of its finest skyscraper. The goal is to transform the Emirate into a unique residential and tourist hub, which boasts of attractions for individuals across all age groups.

Khalifa Al Shaibani: The real estate sector in the Emirate of Sharjah is returning to the path of growth and recovery

His Excellency Khalifa Al Shaibani, Director-General, Tilal Properties, affirmed that the real estate sector in the Emirate of Sharjah is gradually returning to the path of growth and recovery. The package of government incentives provided exemptions and massive reductions across various services and facilities, supporting the growth and stability of the economy. This move further encouraged developers to continue working on their existing projects and complete it in their estimated time.

According to a survey conducted by Tilal Properties in cooperation with Omnes Media, 40 per cent of the public still believe that investing in the real estate sector is safe despite the current circumstances, whereas five per cent believe that investing in real estate is a safe option in terms of protecting investment. A remarkable 44 per cent of those surveyed said that the developer’s reputation is the most important factor affecting their decision to buy a property.

Al Shaibani revealed that they expect the market to improve significantly post the COVID-19 period, as the Emirate is known for providing investment security, economic stability along with zero risk factors. Tilal Properties in particular, is diligently working towards completing several of its projects. Currently, the Naseem villas and residential complexes built in Tilal City is nearing 90 per cent completion and will boast of several state-of-the-art services and facilities, emulating the highest standards of quality. The project is scheduled to be open to the public towards the end of this year.

The Emirate enjoys a diverse economy across many sectors, including, gas, tourism, education, healthcare and logistics services. Besides, its strategic location and strong infrastructure have contributed to strengthening its investment position in the UAE and abroad. Sharjah is also distinguished by a vast and rich history, with culturally and educationally symbolic edifices located throughout the emirate, including museums and traditional markets. The Emirate is also home to several luxurious urban developments located on its coasts and lakes, offering breathtaking panoramic views to its residents. Some of these include the Al Mamzar neighbourhood, Al Khan and Khalid Lake located in the city centre.

Al-Shaibani further stated that, despite the current circumstances caused by the outbreak of COVID-19, work across several large real estate projects and modern high-rise towers continue in full swing. The real estate market has recorded a strong recovery in the post- COVID-19 period, resuming several of its big projects, including launching of one of its finest skyscraper. The goal is to transform the Emirate into a unique residential and tourist hub, which boasts of attractions for individuals across all age groups.

Khalifa Al Shaibani, Director-General, Tilal Properties, confirmed in statements that the real estate sector in Sharjah is witnessing a remarkable recovery, highlighting the strength and durability of the emirate’s economy. Real estate is a true measure of any macro-economy, and Sharjah has been the first choice for a lot of real estate investors and buyers, especially as properties boast of attractive prices and several other lucrative offers.

He said that currently approximately AED 60 billion worth projects are under construction, making Sharjah an ideal destination for investors and traders wishing to enter the real estate field and take advantage of the rewarding investment opportunities provided by the emirate. Besides providing attractive investment opportunities, Sharjah has constantly contributed towards the nation’s economic growth and enjoys the reputation of providing some robust infrastructure facilities that emulate highest standards of safety and economic stability.

The Emirate enjoys a diverse economy across many sectors, including, gas, tourism, education, healthcare and logistics services. Besides, its strategic location and strong infrastructure have contributed to strengthening its investment position in the UAE and abroad. Sharjah is also distinguished by a vast and rich history, with culturally and educationally symbolic edifices located throughout the emirate, including museums and traditional markets. The Emirate is also home to several luxurious urban developments located on its coasts and lakes, offering breathtaking panoramic views to its residents. Some of these include the Al Mamzar neighbourhood, Al Khan and Khalid Lake located in the city centre.

Al-Shaibani further stated that, despite the current circumstances caused by the outbreak of COVID-19, work across several large real estate projects and modern high-rise towers continue in full swing. The real estate market has recorded a strong recovery in the post- COVID-19 period, resuming several of its big projects, including launching of one of its finest skyscraper. The goal is to transform the Emirate into a unique residential and tourist hub, which boasts of attractions for individuals across all age groups.