Sharjah Property

Anyone considering the purchase of property in Sharjah, the third largest emirate of the United Arab Emirates, should keep several things in mind.

The first is that Sharjah, unlike some of the other emirates, has yet to pass laws allowing foreign ownership of property. Therefore, the only option available for non-UAE or Gulf Cooperation Council citizens is a 99-year leasehold agreement.

Secondly, strict Islamic decency laws are enforced in Sharjah and unmarried men and women are prohibited from mixing. Also, a conservative dress code is maintained and the consumption, possession or sale of alcohol is strictly forbidden.

Property Developments in Sharjah

However, several large-scale property developments are underway in Sharjah.

The most ambitious is a major tourism, residential and commercial property project called the Nujoom Islands. This project consist of 10 manmade islands connected to each other and the mainland by a series of bridges and separated by water channels. The Nujoom Islands property will provide housing to 40,000 residents and offer schools, banks, mosques, restaurants and clubs.

The Nujoom Islands, also called the Stars Islands, is a US$4.9 billion project, the largest in Sharjah, and the property will be developed over five years. When finished, the property will contain four hotels, two resorts, 145 apartment buildings, 40 high rise towers (for commercial and residential uses) and 1,400 villas.

Another property development underway in Sharjah is the Al Rayyan Towers, which will be comprised of three towers - two for residences and one for offices. Each tower will have 39 floors and is aimed at high-end users.