Real Estate Leasing

In a move aimed at modernizing and enhancing its real estate sector, the emirate of Sharjah has approved a new draft law governing real estate leasing. The decision, which was reached after amendments were introduced during the sixth meeting of the first regular session of the eleventh legislative term, reflects the emirate’s commitment to fostering a transparent and conducive environment for both investors and residents.

A Step Towards Legislative Progress

Counselor Dr. Mansour Mohammed bin Nassar, Head of the Legal Department of the Government of Sharjah, commended the role of the Sharjah Consultative Council (SCC) in shepherding the legislative process. Emphasizing the significance of the draft law, Dr. Nassar highlighted its role in streamlining the relationship between landlords and tenants, aligning with existing laws within Sharjah.

He underscored Sharjah’s appeal to investors and families alike, emphasizing the need for updated legislation to regulate real estate transactions effectively. Notably, the previous law governing real estate leasing dates back to 2007, making it imperative to enact amendments that accommodate evolving needs and market dynamics.

Enhancing Sharjah’s Appeal

Khaled Falah Al Suwaidi, Director of Customer Service at Sharjah Municipality, emphasized the pivotal role of the draft law in bolstering Sharjah’s allure as a tourist, investment, and residential destination. He noted that the draft law incorporates provisions aimed at fortifying the emirate’s real estate sector, catering to the diverse needs of its populace while aligning with contemporary market demands.

Al Suwaidi highlighted the draft law’s comprehensive approach to addressing societal needs, emphasizing its role in fostering cooperation among stakeholders and adapting to evolving market trends.

Deliberations and Approval

During the session chaired by Dr. Abdullah Belhaif Al Nuaimi, Chairman of SCC, members deliberated extensively on the provisions of the draft law, aiming to ensure its efficacy in regulating landlord-tenant relationships. Government representatives, including Dr. Mansour Mohammed bin Nassar and Issa bin Hanzal from the Legal Department of the Government of Sharjah, as well as officials from Sharjah Municipality, provided insights into the legal interpretations and implementation strategies associated with the draft law.

Members offered diverse perspectives on the draft law’s articles, prompting constructive discussions and clarifications from government representatives. Ultimately, the Council approved the draft law, marking a significant milestone in Sharjah’s legislative landscape and setting the stage for further deliberations on key policy matters.

Looking Ahead

As Sharjah embarks on this legislative journey, the approval of the draft law signals a commitment to fostering a regulatory framework that balances the interests of all stakeholders. With a focus on transparency, efficiency, and adaptability, the emirate is poised to strengthen its position as a regional hub for investment and economic development.

With the groundwork laid for progressive reforms in the real estate sector, Sharjah sets a precedent for proactive governance, underscoring its dedication to sustainable growth and prosperity for its residents and investors alike. As discussions continue on shaping Sharjah’s policy landscape, the emirate remains steadfast in its pursuit of innovation, progress, and inclusive development.

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