Sharjah Issues Decision Allowing All Nationalities to Own Real Estate
- Publish date: Thursday، 22 December 2022
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Sharjah Executive Council (SEC) issued a decision allowing all nationalities to own real estate of all kinds without limitation of time in real estate development areas and projects.
The meeting was chaired on Tuesday by H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of the Sharjah Executive Council (SEC), in the presence of H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah.
تنفيذي الشارقة يصدر قراراً يجيز التملك المطلق وغير المقيد بزمن لكافة الجنسيات في مناطق ومشاريع التطوير العقاريhttps://t.co/E57sDKZKLB pic.twitter.com/6lOUvDXpr7
— sharjahmedia (@sharjahmedia) November 1, 2022
Based on Law No. (2) of 2022, which was issued yesterday, the decision represents a continuation of efforts to enhance the legal framework for real estate registration in the Emirate of Sharjah.
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The development of real estate registration legislation aims to keep pace with the significant growth in this vital and important sector and to provide opportunities for ownership of all nationalities in an organised manner.
The council also issued a decision regulating the insurance mortgage of real estate in the Emirate of Sharjah, including the conditions and procedures for registering the mortgage.
This article was previously published on UAE Moments.To see the original article, click here