Al Saleh: Non-nationals own 50% of the project units

Forming a committee to approve real estate development projects in Sharjah and decide on ownership applications

• Previous owners of real estate units will remain in their position as it is.

  archival

• Abdulaziz Al Saleh: “A new ownership document and contract will be signed between the developer and the buyer, whereby the contract will be changed from usufruct to ownership.”

picture

The Director of the Sharjah Real Estate Registration Department, Abdulaziz Al Saleh, stated that the procedures for forming a committee to approve real estate development projects in the emirate in coordination between the concerned government agencies, based on the decision issued by the Executive Council recently regarding the ownership of real estate by non-nationals and Gulf nationals in the Emirate of Sharjah, has been started.

Al Saleh told «Emirates Today», that this committee will include representatives from the various government departments concerned, namely: the Department of Planning and Survey, the Department of Economic Development, and the Municipality of Sharjah City, and when necessary, a representative of the concerned municipality that falls within its jurisdiction is invited to participate in the work of the committee. The real estate project in question, in addition to that the decision made it possible to suggest the Director General of the Real Estate Registration Department to any other entity that could be added.

He explained that as soon as the decision was issued, the department began addressing the concerned authorities to nominate their representatives to the committee, provided that the meeting would be held at the earliest opportunity, noting that the committee’s competence is to register development projects to allow receiving applications for ownership, and at the same time review, develop and evaluate projects and issue recommendations in their regard. As well as any other functions assigned to the department by the Emirate's Executive Council.

Al Saleh confirmed that Law No. 2 of 2022, amending Law No. 5 of 2010 regarding real estate registration in the Emirate of Sharjah, has become effective, as the department harnessed all its capabilities in a proper manner and with the support of the Government of Sharjah to carry out its tasks, noting that several meetings were held with the concerned authorities. To discuss the details related to the application of the text of the resolution.

He explained that with regard to Article 4 of the law, it was in place in its own text and has not been amended, with the exception of a clause that was added, which allowed non-nationals and Gulf nationals to own property in real estate development areas and projects in accordance with the regulations set by the Council.

He continued: "After that, the Executive Council of the Emirate issued Resolution No. 30 of 2022 regarding the ownership of non-nationals and Gulf nationals, allowing all nationalities to own 50 percent of real estate development projects." % for nationals of citizens and citizens of the Gulf Cooperation Council and 50% for the rest of the nationalities, and once the percentage of ownership reaches 50%, the online application page will stop.”

He pointed out that with regard to cases previously owned in the emirate by other nationalities, their status will remain as it is, adding that in 2014 a decision was issued to allow usufruct in the emirate for a period of up to 100 years, and this segment will be dealt with according to the project in which the person will own Pointing out that a new ownership document and contract will be signed between the developer and the buyer, with the payment of 2% ownership fees, as the contract will be changed from usufruct to ownership.

Ownership within the emirate

With regard to ownership within the emirate away from real estate development projects, the director of the Sharjah Real Estate Registration Department, Abdulaziz Al Saleh, said that Law No. 2 of 2022 amending Law No. 5 of 2010 regarding real estate registration in the Emirate of Sharjah stipulated in Article No. 4 on citizens of Sharjah. The state and the citizens of the Gulf Cooperation Countries, and it is a clear and explained text, as it specified exceptional cases only: ownership with the consent of the ruler, the transfer of inheritance by virtue of a legal notification, and the assignment by the owner to one of his relatives of the first degree according to what is specified by the executive regulations of the law, in addition to the item that was added last, which is ownership in real estate development projects.

Follow our latest local and sports news and the latest political and economic developments via Google news