Sharjah will offer flexibility to property investors on freehold titles: Shurooq CEO Al Qaseer

Sharjah will offer flexibility to property investors on freehold titles: Shurooq CEO Al Qaseer

Dubai: Sharjah will offer property investors as much flexibility they need when it comes to issuing freehold titles, according to the CEO of the investment firm Shurooq. “The Sharjah government’s decision to open freehold to a majority of ongoing projects has added to the boom the real estate sector is experiencing,” said Ahmed Obaid Al Qaseer, CEO of Shurooq, whose real estate portfolio is valued at Dh7 billion. “The decision gives developers and buyers a good deal of flexibility. For instance, we will issue freehold titles to properties sold in the current Phase 4 of the Sharjah Sustainable City. “But if someone had bought a property there before the government decision was made and they want to sell that unit now, freehold deeds will be granted to them. They just need to seek the approval. “That’s what I mean by having that flexibility.” (Until now, Sharjah was offering long-term leasehold rights for property buyers.) The changes at the regulatory level is manifest across the emirate’s property market. Since last year, successive quarters have delivered a string of upbeat transaction numbers. Developers are speeding up new launches, while handovers keep coming on existing projects. At the Acres 2023 event, the investment