A bird's eye view of Sharjah.
PHOTO BY ARCHIVE
The Ruler of Sharjah has amended the law on real estate ownership in the emirate, limiting the right to own real estate in the emirate to Emiratis and GCC citizens, with some exemptions.
An exemption will be granted in cases where ownership is done in agreement with the Sharjah ruler; if the property ownership is by inheritance with legal notification; if the owner assigns new ownership of the property to a first-degree relative in accordance to the law; or if the property ownership is in real estate development areas and projects approved by the Sharjah Council.
Expatriates or foreign nationals, or companies owned by foreign nationals do not have the right to own real estate in Sharjah, but they will be allowed to have a 100-year lease on the property after registering with the Sharjah Real Estate Registration Department.
Under the updated law, a person who owns real estate in the emirate must inform the Real Estate Registration Department of any change in the ownership, and correct any contravening situation in case of adding a partner or transferring ownership to persons who are not entitled to own real estate in Sharjah. ICA/Expat Media
Saudi Arabia: 7 most expensive megaprojects that will change the world
Dubai to build world’s first 3D-printed mosque by 2025
The Dubai Mall announces new name, but it’s ‘unofficial’
Filipina dies after being hit by car in Dubai Hills
‘Silent killer’ carbon monoxide poisoning spikes during winter: Dubai Police
Dubai residents can now get marriage licence in 24 hours
Big Ticket Abu Dhabi: Nepali expat wins Dh23 million for group of 21
Dubai Marathon to be held at Expo City Dubai
Dh675 helicopter ride in Dubai a must-try
Over 2,000 to join Spinneys Dubai 92 Cycle Challenge, registration still open
Get free ride in Dubai with cashback scheme
28 arrested in Dubai over Dh32 million worth of drugs
Abu Dhabi: Meet stars attending Middle East Film & Comic Con 2023