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STRENGTHENING THE FOUNDATIONS

Sharjah 2016 | CONSTRUCTION & REAL ESTATE | FORUM

Growth in Sharjah's real estate market is being cultivated by a powerful combination of sound leadership and growing demand.

Mohamed Humaid Bin Dalmouk
MOHAMED HUMAID BIN DALMOUK
Chairman
Bin Dalmouk Engineering

The city of Sharjah has expanded tremendously over the past 15 years, and the decision makers are well aware of the city's needs in terms of the urban planning requirement, population growth, and land expansion. The urban planning of the city of Sharjah is evolving around these main issues. There has always been a proper infrastructure plan for the city and the necessary number of services available when it comes to schools, hospitals, and even outdoor recreational areas such as district parks. In addition to that, the University City is well located at the center of the city. In the last couple of years we saw the development of some residential projects such as Al Zahia, Barashee, and Telal, and satellite residential districts like Alrahmania and Alsiyooh, as well as the introduction of mini malls around the city, which made daily services more approachable to most districts over the city of Sharjah. It has always been a part of the plan to have these services available; it is not something that was introduced five or six years ago. The growth in services has increased in parallel with population growth. This is why people like to be here. Authorities are fully aware of the importance of supporting the private sector in order to better serve the needs required for the growth of the city.

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Eng. Omar Bin Salem
ENG. OMAR BIN SALEM
General Manager
Potential Real Estate

There was increasing market demand in the first quarter of 2016, which translates into raising rental and selling prices. This is a good sign for Sharjah because the growing demand keeps the market active. The market is alive and more business is going on in Sharjah and overall in the UAE, unlike other cities or countries around the world that have seen a slump or decline in the market. With Sharjah, most of the investors are from countries like Saudi Arabia, Kuwait, and Qatar because they like the city and its more traditional culture. Also, under the guidance of His Highness Sheikh Dr. Sultan, it is expanding the real estate offering. New projects such as Al Zahia Project, Sharjah Gate Project, Al Nahdha Area, as well as Telal City in Sharjah and the Hawshi Project are popping up all over and not only in specific areas like Al Mumzar, Al Khan, and Buhaira Cournich, but new areas near to Sharjah International Airport and so on, which we think will attract more investors. We see a lot of potential in the market, especially in Sharjah, but in the end we have to remember that all markets in the UAE are connected. If there is a boom in Dubai, there will also be a boom in Sharjah, and vice versa.

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Hayssam El Masri
HAYSSAM EL MASRI
President
Sharjah Oasis Real Estate

We take all our inspiration and plans from the government authorities. We have to work and act as one team with one vision. His Highness has valuable visions for Sharjah and we have been given all the support we need. All of Sharjah's authorities are very supportive and helpful. They give directions that smooth the way for implementation and do not hinder projects. We are working closely with infrastructure operators and other consultants to adopt the right systems to protect the ecosystem. Our location itself is critical, being on the beach. With 36km of beachfront we have plenty of room to implement environmental safety systems and the latest technology. All of this will add value to the project. We are being totally sustainable and green, and we plan to expand our sustainability program over time. We have started our focus on Sharjah Waterfront City to make it one of the most iconic private entities in the UAE, adding different attractions to Sharjah. We are working hard to reach this goal. Hopefully the investors, as well as the residents of Sharjah, will be benefiting from this project in the very near future; this is our goal. Our aim is to have a good balance between residential shareholders and visitors.

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