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    Sharjah: New residential hubs emerge

    Business

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    All Sections

    Sharjah: New residential hubs emerge

    Nearly Dh16.7 billion residential transactions were recorded in Sharjah in 2019


    Published:  February 10, 2020 10:11 Manoj Nair, Business Editor

    1 of 14
    Nasma Residences 0101
    GRADUAL SHIFT: In the last 12 months, there was a gradual shift in housing demand from locations in the city centre to emerging residential hubs within Sharjah. Image Credit: Supplied
    2 of 14
    1.1993253-3614583486
    THE NASMA RESIDENCES BY ARADA. The project is located at the intersection of Emirates Road Highway E611 and Maliha Road, spanning just over 5 million square feet. Image Credit: Supplied
    3 of 14
    Nasma Residences 0101
    PROPERTY TRANSACTIONS: Close to Dh16.7 billion worth of residential transactions were recorded in the emirate last year, making up 69.4 per cent of total real estate transactions in the city. Image Credit: Supplied
    4 of 14
    PW_190220_waterfront_Sharjah_Beach_05-1550595758905
    A SCENE ON SHARJAH BEACH: Apart from the price factor, the availability of gated communities in emerging locations of the city, less traffic congestion, and the fact that these are relatively new developments were part of the attraction for property buyers. Image Credit: Gulf News Archives/Ahmed Ramzan
    5 of 14
    1.1414396-3890112579
    PREMIUM: Sharjah is the only property market in the UAE where they are able to sell at a premium to what they bought at. An artist's view of a Tilal Properties development, a joint venture between Sharjah Asset Management and Eskan Real Estate Development. Image Credit: Supplied
    6 of 14
    1.2245416-3614583486
    REFLECTIONS: The strong demand for residential was on account of the availability of ample investment opportunities across projects in emerging areas, as well as Sharjah City, such as Muwailah and Al Khan. Image Credit: Supplied
    7 of 14
    1.1949607-2650230228
    TILAL CITY IN SHARJAH: Masterplanned communities in 'New Sharjah' are seeing healthy levels of secondary market activity, sas Shane Breen, Director of Commercial Valuations and Consultancy Services at Savills-Sharjah. “This is expected to increase significantly over the next two-three years as project handovers ramp up." Image Credit: Gulf News Archives
    8 of 14
    1.1414396-2273500424
    100-YEAR LEASEHOLD PROPERTIES: Tilal City allows UAE residents to buy properties on a 100-year leasehold basis, based on laws regulating Sharjah’s property market. Image Credit: Supplied
    9 of 14
    1.1451424-3921791583
    SHARJAH BY THE SEA. Sharjah’s property market has been seeing a spike in the launch of large-sized residential developments. Image Credit: Atiq-ur-Rehman /Gulf News Archives
    10 of 14
    1.1319618-1141561868
    GREATER RETAIL CAPACITY: A view of the Sharjah Corniche. Sharjah will also be seeing more retail capacity coming online in the next year or two, with Aljada being a major destination in the making. Image Credit: Corbis
    11 of 14
    The Sharjah skyline.
    REGULAR LAUNCHES: The Skyline of Sharjah. Sharjah property developers came out with regular launches last year — these included Sharjah Sustainable City (from Shurooq and Diamond Developers), The Boulevard and Nest Complex (Arada), and Muwailah Community (Thuraiah Group). Image Credit: Virendra Saklani / Gulf News
    12 of 14
    1.751020-3026134592
    SECONDARY MARKET PRICE BOOSTER: Towers of Sharjah as seen from Mamzar Lagoon. In Sharjah's residential communities, the start of handovers is offering a boost to prices in the secondary space. Expect a repeat at Aljada, where handovers will start later in the year. Image Credit: Gulf News
    13 of 14
    190322 visitors
    NEW PROJECTS: Developers in Sharjah are launching new projects that are still finding buyers; investors who bought properties earlier and wanting to sell at a profit in the secondary market are able to do so; and tenants are finding places to rent at lower rates than they used to. Image Credit: Virendra Saklani/Gulf News
    14 of 14
    Sharjah
    A BEAUTIFUL DAY IN SHARJAH, UAE: All through this 2020, there will be handovers of earlier launched projects. The first and second phases of Nasma Residences are now in handover mode. Image Credit: Istock

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