The Executive Council of the Emirate of Sharjah decided today, on Tuesday, that all nationalities are permitted to possess all types of real estate and uses, in absolute ownership that is not time-limited, in the areas and projects of real estate development.
The judgement, which is based on Law No. 2, continues the development of the legal framework for real estate registration in the Emirate of Sharjah.
(2) of 2022 AD, which was published yesterday, legalised the ownership of real estate for all nationalities subject to a variety of conditions, including ownership in real estate development regions and projects subject to the controls decided by the Executive Council.
The development of real estate registration legislation aims to keep up with the significant growth in this vital and important sector, to provide organised opportunities for ownership of all nationalities, to provide all factors of stability, and to ensure owners and investors of all nationalities have access to the rights that are legally guaranteed to them.
The Council also made a decision that governs the insured mortgage of real estate in the Emirate of Sharjah, outlining the prerequisites and methods for recording mortgages, the obligations of the mortgagee and current owner, and numerous other legal provisions.
Sharjah issues a ruling allowing for the unrestricted absolute possession of real land, regardless of nationality.
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