UAE: Sharjah slashes property registration fee during real estate exhibition
Sharjah Real Estate Exhibition – Acres 2025: Investors and end users who wish to buy and sell properties in Sharjah will enjoy a 50 per cent off on the state charges.
Buyers and sellers will have to pay two per cent, rather than four per cent registration and transaction fee during the exhibition which will be held from January 22 to 25 at Sharjah Expo Centre said Saeed Ghanem Al Suwaidi, chairman of the Representative Committee of the Real Estate Sector Business Group at Sharjah Chamber of Commerce and Industry (SCCI).
He said the exhibition is proving larger each year because of the rules regarding freehold and 50 per cent discount on registration for purchasing and selling of homes in the four-day exhibition.
"There are opportunities like this for new investors, end-users and exhibitors. We have seen launch so many new projects in Sharjah by Arada, Alif, IFA and more which were never done before. There is also more demand since freehold was introduced in Sharjah a couple of years back," Al Suwaidi added.
"The Sharjah Executive Council’s (SEC) announcement to cut the sale and purchase fee on the deals that will take place at Acres 2025 will go a long way towards making more companies move into Sharjah," Jamal Al Shawish, head of sales and marketing for IFA Hotels and Resorts, told me.
According to Director of Sharjah Real Estate Registration Department (SRERD) Abdulaziz Rashid Al Saleh, the exhibition’s previous edition recorded double-digit number of registered transactions and recorded more than Dh1.4 billion worth of real estate deals during the exhibition.
He emphasized that this has huge advantages for all participants, hence the Organising Committee had to increase the space of the exhibition hall this year to cater to the increasing number of real estate agents who want to join in.
Sharjah Real Estate Exhibition – Acres 2018 will have its biggest edition ever as over 110 exhibitors – both major real estate development and investment organizations and the leading property developers in the UAE and the region, along with the first-time exhibitors – will be present this year.
Organised by SCCI and SRERD, the show will cover 10,000 square metres and feature real estate projects and investment deals, from residential, commercial and industrial property, to land and hotel and hospitality development projects – in progress or in construction.
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