The Sharjah Executive Council (SEC) has issued a ruling allowing all nationalities to buy and use real estate in the emirate without time constraints. It provides the path for persons of all nationalities to earn unrestricted ownership in real estate projects and developments in the emirate.
The Sharjah Executive Council (SEC) now has complete control over real estate projects with no time constraints. The law permits residents of any nation to own real estate in Sharjah for any purpose. The SEC meeting on Tuesday was presided over by Sharjah’s Crown Prince and Deputy Ruler, Sheikh Sultan bin Muhammad bin Sultan Al Qasimi.
Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, presided over the meeting, which was also attended by Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah.
The new decision, based on Law No. (2) of 2022, reflects a continuation of efforts to improve the legal environment for real estate registration in the Emirate of Sharjah.
His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, made the decision based on a statute. Issued yesterday, it maintains Sharjah’s executive framework for real estate registration. Only inhabitants of the UAE and Gulf countries are permitted by law to own property in Sharjah. Real estate development zones and projects that follow the SEC’s standards are exceptions.
Initiatives for real estate registration strive to keep pace with the growth of this critical business. Furthermore, the law protects all nationalities of owners and investors by providing ownership options in a “controlled way while ensuring stability.” The council issued a second decree to govern Sharjah’s mortgage insurance sector.
The development of real estate registration legislation strives to keep up with the enormous growth in this critical and important sector, as well as to create organized options for ownership of all nationalities.
The council also published a decision governing real estate insurance mortgages in Sharjah, including the requirements and processes for registering the mortgage.