Tilal Properties eyeing big Sharjah 'real estate boom'
SHARJAH, November 2, 2019
Tilal Properties, a leading UAE-based real estate development and investment company, said it expects to witness spiraling demand for real estate in Sharjah next year, and residential units in particular in light of the growing business momentum which requires more manpower at multiple levels.
This is coupled with the recently-enacted government legislation, which aims to attract more talent and expertise to the UAE and will ultimately reflect positively on real estate demand, stated the developer.
A premier developer of residential complexes and freehold projects, Tilal Properties is a joint venture between Sharjah Asset Management and Iskan Real Estate Development.
Tilal Properties said Sharjah represented an investment-conducive, business-friendly destination for many investors from all over the world for its robust infrastructure, streamlined procedures in addition to consistent, reliable and performant services.
The business landscape in Sharjah is characterised by security, diversity and prosperity, underpinned by large market opportunities and solid business models, said a top official.
The emirate is witnessing an upward growth trajectory manifested in an increasing number of mega commercial, real estate, investment, tourism and industrial projects that will benefit the Emirate in particular and the UAE in general, remarked Khalifa Al Shaibani, the Director-General of Tilal Properties.
“The economic diversity in Sharjah has enabled the emirate to carve an enviable niche on the regional and global economic map,” he noted.
Highlighting the remarkable growth recorded in the emirate's real estate over the past period, Al Shaibani cited a report issued by the Sharjah Real Estate Registration Department which said 27,588 sales and mortgage transactions worth Dh14.7 billion were conducted during the first half compared to Dh22.5 billion in 12 months last year.
"Sharjah is witnessing a significant growth in SMEs, which now number over 55,000, along with more than 13,000 companies classified as large, according to figures revealed by the Sharjah Economic Development Department, which reflects the impressive magnitude and scope of investments Sharjah abounds in," he noted.
Al Shaibani pointed out that Sharjah hosted 578,000 workers, or 11.4% of the total workforce in the UAE today.
"The emirate is known as the third largest populated city in the UAE, with the emirate's nine million people accounting for 19% of the country’s total population, as per the 2017's statistics," he said, citing the latest statistics issued by the Ministry of Human Resources and Emiratisation last year.
Al Shaibani said: "At Tilal Properties, we are aware of the importance of the distinctive geographical location that Sharjah boasts of, both locally and regionally."
"This has encouraged us to offer unique investment opportunities to all nationalities with exceptional facilities and incentives through our landmark project Tilal City," he noted.
Al Shaibani pointed out that over the coming period, Sharjah is expected to witness remarkable growth in the fields of tourism, transport, logistics, healthcare, environment, education and light industries.
"This growing momentum will result in increased job opportunities and a potential tendency toward homeownership in Sharjah, especially in the newly-established real estate projects which provide investors and residents with added value in terms of quality of life, and will stimulate demand for various types of real estate investment in the emirate," he added.-TradeArabia News Service
