Sharjah: ASAS Real Estate, the real estate division of Sharjah Islamic Bank, has introduced a significant development in its Al Saja'a Industrial Land project. This new initiative allows expatriate investors of all non-Arab nationalities to obtain 100-year leasehold ownership. Additionally, it offers freehold ownership specifically for Arab investors.
According to Emirates News Agency, this initiative aims to attract expatriate investors by leveraging the project's strategic location and promising returns. The leasehold ownership is accessible to all nationalities without exception, provided the investor holds a valid UAE residency. This move underscores Sharjah's dedication to equitable investment opportunities and enhances the competitiveness of its real estate market.
Ahmed Al Amiri, General Manager of ASAS Real Estate, stated that the introduction of the 100-year leasehold feature is a response to the increasing demand for Al Saja'a Industrial Land. It provides expatriate investors with flexible entry points into Sharjah's real estate and industrial sectors. Al Amiri highlighted that this development strengthens the project's role as a catalyst for economic growth by attracting new investor demographics and bolstering industrial activities in the region. The initiative complements the existing freehold ownership option for Arab investors, thereby enhancing investor diversification and boosting regional competitiveness.
Al Amiri further mentioned that the 100-year leasehold feature marks a significant advancement in promoting real estate diversification. It encourages expatriate capital investment in a vital sector contributing to the local economy. Additionally, the initiative reflects the growing openness of Sharjah's property laws, enhancing the emirate's attractiveness as an investment destination both nationally and regionally. This is attributed to its secure investment environment, modern infrastructure, and wide range of options catering to investor needs.
Al Amiri emphasized that the project aligns with ASAS Real Estate's vision of supporting Sharjah's economic and real estate development. It aims to expand investor opportunities to achieve their goals in a safe and stimulating environment. The project offers competitively priced industrial land starting at AED 1,045,000, with plot sizes ranging from 9,500 to 30,000 square feet.