Wed 19-09-2018 16:02 PM
SHARJAH, 19th September, 2018 (WAM) -- Sheikh Saeed bin Saqr Al Qasimi, Deputy Chief of Sharjah Ruler’s Office in Khorfakkan, inaugurated the activities of the first edition of the Real Estate Investment exhibition at Expo Khor Fakkan on Wednesday. The exhibition is considered the first event of its kind in the Eastern region of Sharjah.
The exhibition, which is sponsored by the Sharjah Chamber of Commerce and Industry, SCCI, in coordination with Sharjah Real Estate Registration Department, brings together a variety of real estate development companies, contracting and engineering firms, building materials companies, financial institutions, and a number of local government departments.
Sheikh Saeed bin Saqr praised Expo Khor Fakkan for organising the exhibition, and praised the support and sponsorship of the Sharjah Chamber of Commerce and Industry, Expo Centre Sharjah, and the Sharjah Real Estate Registration Department. He stated that organizing this kind of specialized exhibition is a positive step that helps to highlight the investment opportunities in various economic sectors in the Eastern region of Sharjah, which is witnessing rapid development in light of the comprehensive development strategy of the region. He added that this strategy stems from the wise vision and directives of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and with the continuous follow-up of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah.
Abdul Aziz Al Shamsi, Director-General of the Sharjah Real Estate Registration Department, said that the Eastern region of the emirate has received great attention and care from His Highness, the Ruler of Sharjah, where the region has witnessed comprehensive development in various economic, social, educational and cultural fields, in addition to the addition of tourism projects that benefitted from the great landscape of the Eastern region.
The department’s statistics during the first half of this year indicate that volume of transactions in the Eastern region’s cities has amounted to AED204 million, whereas title deeds transactions reached 861, of which 98 transactions were sold. Mortgage transactions amounted to 132 transactions. These figures are likely to increase due to what the region offers in terms of the density of the population and the infrastructure.
The real estate sector is considered one of the fastest growing sectors in the UAE, with an estimated value of over AED918 billion (US$250 billion).