Arada’s sales reach new record following landmark Sharjah decision to offer freehold property ownership to all nationalities

Arada’s sales reach new record following landmark Sharjah decision to offer freehold property ownership to all nationalities

- Ownership rules were amended in early November following decision by Sharjah Executive Council

Sharjah, United Arab Emirates – Arada has revealed that the recent change in government regulations in Sharjah that has allowed all nationalities the right to purchase property on a freehold basis in the Emirate has already had a positive impact on investor sentiment. Announced by Sharjah Executive Council at the beginning of November, the move has resulted in a sharp rise in demand for the master developer’s two Sharjah megaprojects, Aljada and Masaar, resulting in Arada’s best-performing sales month since the company’s foundation in 2017.

All buyers will now be able to purchase homes on a freehold basis in Arada’s popular communities, regardless of nationality. Buyers who had previously bought Arada homes on a 100-year leasehold basis will also be entitled to change their title deeds to freehold, subject to approval from Sharjah Real Estate Registration Department.

Ahmed Alkhoshaibi, Group CEO of Arada, said: “This landmark decision to allow freehold ownership for all nationalities enhances still further Sharjah’s positioning as a prominent and global investment destination. It will spur further domestic and foreign direct investment into the Emirate, which will help boost what is already one of the most