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CityScape Dubai 2018

Reaffirming significant growth in FDI inflows into Emirate’s property market

Sultan bin Ahmed Al Qasimi: Investment environment of Sharjah stable, safeguarded against regional headwinds

Sharjah witnessing infrastructure development boom as per highest world standards

Tilal City reflects Sharjah Government’s ambitious vision, providing significant investment, homeownership opportunities

 

Sharjah-October 6th-2018

“The real estate sector in the Emirate of Sharjah is witnessing significant growth from (FDI) Foreign Direct Investment” – Sheikh Sultan Bin Ahmed Al Qasimi, Chairman of Tilal Properties. “It’s now the destination of choice for many who come to invest from all over the world”.

Al Qasimi added, “Undoubtedly, interest in the real estate market of Sharjah is primarily attributed to the support provided by the Emirate’s Government; who promote the real estate investment scene, and to the policies and strategies that have been adopted to provide a modern and refined infrastructure that meet international standards and specifications”

“The UAE has made impressive strides in a short span of time, injecting FDIs into the real estate sector, now becoming one of the key investment hubs across the region and globally. The real estate sector, which at present is witnessing unprecedented growth and mobility, has proved to be one of the top-performing sectors in the Emirate of Sharjah”

“Today, Sharjah offers sophisticated services, and a government-implemented incentive policy that is attractive to both Emirati and foreign investors,” added the Tilal Properties Chairman, who also citied; “The stable and safe, investment-friendly environment of the Emirate, which, has not been impacted by the regional challenges and will continue to be safeguarded against headwinds”

“Sharjah is constantly working on developing its infrastructure in accordance with the highest international standards” Sheikh Sultan further noted that the sound economic policies set by the Government will ensure positive business returns, concurrently boosting investor confidence which subsequently further stimulates Sharjah’s economy.

Tilal City is a first-of-its-kind, mixed use development in Sharjah that offers the unique opportunity to purchase or lease land and build property within the region. The 25-million square-foot project is also Sharjah’s first master-planned community, which has been carefully designed to create a conducive living and work environment for the community to prosper. When completed, the development will be home to around 65,000 residents.

To date, 87 percent of the first phases of Zones A and C of the project, have been sold. An impressive demand, that further substantiates investor confidence in the Emirate’s business environment.

For the first time ever, 100-Year Leaseholds are available to non-Arab UAE residents. All Arab nationals residing in the UAE can purchase land at Tilal City on a freehold basis under the new ownership laws in the country.

Khalifa Al Shaibani, Director-General of Tilal Properties, noted “There is no doubt that the laws approved recently by the UAE Cabinet have significantly contributed to stimulating the real estate market in the UAE in a way that strengthens the business community and accelerates investments across various economic sectors”.

With regards to the performance of the real estate market in the country, Al Shaibani also said, “Given the current volume of supply throughout the Emirates, its exciting to have such a large number of developments nearing completion for market. We can safely say that the best way to ensure the ongoing success of our projects, is to continue to provide high quality products at competitive prices. All whilst maintaining the regulation of robust laws and legislation that efficiently manage properties on the market”

“Sharjah has succeeded in establishing a solid regulatory system through an investment-conducive environment, with the Government of Sharjah tirelessly working to ensure sustainable growth in this vital sector. The newly introduced legislation ensures better regulation of landlord-tenant relationships in terms project development as well as marketing and ownership. Subsequently, this establishes a solid ground to offer investors lucrative prospects, while ensuring Sharjah continues to answer market needs and meet the many requirements for successful growth in this real estate”.

Tilal Properties is a joint venture between Sharjah Asset Management and Eskan Real Estate Development. The mega-development Tilal City, is one of mixed-use. The first of its kind in the Emirate to offer a unique opportunity to both purchase land and build within Sharjah’s first master-planned community.

Tilal City, a contemporary construction project, is divided into five zones, each with a distinctive character and purpose. It offers 25 million square feet and 1,850 plots of land for residential and mixed-use buildings, along with independent villas.

 

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