Sharjah is currently one of the hot spots in the real estate market and its popularity is increasing by the day. Though the natives of UAE were able to easily invest in the real estate of Sharjah, such was not the case for foreigners. But now, thanks to better and liberal government policies, it has become easier for foreigners to invest in the myriad real estate opportunities Sharjah offer.
Well, this being said, it may seem that the foreigners can buy as much land as they require, as opposed to the maximum of five properties they could purchase up until the law was amended. Though now foreigners do not need a residency visa to purchase real estate, this liberty is restricted. Expats now can only invest in certain parts of Sharjah and they can lease the property for upto 100 years.Let us now check the areas foreigners can invest in:
1. Al Mamsha
In Arabic, Al Mamsha means ‘pedestrian area’. Situated in the Al Juraina area, Al Mamsha is launched as a “pedestrian-friendly residential development” area. Al Mamsh covers an estimated total of 3 million square feet area and is designed as a fully walkable community, the first of its kind in Sharjah.
The Al Mamsha community is designed as a “mixed-use community” that sweetly combines leisure with modern living. The various apartments and other infrastructure in Al Mamsha sport a unique architectural style which also lends it a vibrant appeal. Al Mamsha boasts of many features and amenities like walkable area, retail areas and much more that creates a perfect living ambience.
Al Mamsha boasts of an entirely new range of apartments and residential options that local residents and foreigners can invest in. Though local residents have no restrictions in the duration of keeping a property in possession, when it comes to foreigners, they are only able to lease it for a long term. The apartment properties in Al Mamsha are luxury apartments and they come in the usual 1 BHK, 2 BHK and 3 BHK variations. Al Mamsha also has a good number of luxury studio apartments that you can purchase at around AED 320000. The community also has duplex apartments in 2 bedroom and 3 bedroom variations. These duplex apartments come with gardens and private terraces. The 2 bedroom apartment can be bought for AED 850000.
Al Mamsha also boasts of a load of amenities that ensure a hassle free and pleasurable living experience.
Here is another community that foreigners can invest in Sharjah. Aljada is much popular among the real estate investors and realtors, thanks to its prime location and proximity to Sharjah. An emerging hot spot in Sharjah, Aljada strikes a perfect balance with recreation, retail, entertainment and living standards, making it the best place to invest in.
The urban community of Aljada is all about helping the residents experience and indulge in an active lifestyle and live in luxury. This community offers a plethora of residential properties including villas, penthouses, townhouses and high-end apartments. If you are a fan of townhouses, then there is no better place than Aljada to buy them. On an average, a 2 bedroom townhouse would cost approximately AED 900000. If you are looking for studio apartments in Aljada, you can purchase them from AED 240000. When it comes to 2 BHK flats, the cost would be around AED 370000 and 3 BHK at around AED 1.3 million. Villas in Aljada are available at a starting price of around AED 900000.
With the aim of providing the best living experience, Aljada has a host of facilities and amenities. Some of the amenities include clinics, schools, mosques, facilities for outdoor sports, a library, hotels, offices and many more. Well, if you are investing in Aljada and selling it off at a later stage, then you can be sure of the best returns, thanks to these many features of the community.
3. Tilal City
Nothing excites investors in Sharjah more than investing in Tilal City. This is the first ever master planned community project in Sharjah where you can purchase land and build your own property in it. You can have the property leased in your name for 100 long years, while for those hailing from any of the GCC countries, the property lease is for as long as they like.
Tilal City is also a mixed-use community just like Al Mamsha and is spread into 25 million square feet area. Tilal City is a project still in development, but has become one of the most sought after real estate properties in Sharjah. The community is divided into separate divisions based on its purpose. Some of those include commercial, residential and entertainment.
The residential properties in Talal City includes apartments, villas and townhouses. The best part of the properties in Talal City is that there is no special fees you need to pay. Talal City also has many amenities including restaurants, schools, mosque, clinics, parks and more.
These are a few of the selected areas where foreign nationalists and expats can invest in Sharjah real estate for a lease period of 100 years.