ASAS Real Estate, the real estate division of Sharjah Islamic Bank (SIB), announced on Wednesday a new initiative that allows all non-Arab nationalities to obtain a 100-year leasehold ownership of its Al Saja’a Industrial Land project in Sharjah. In addition, Arab investors will have the option for freehold ownership under this scheme.

This initiative aims to attract expatriate investors by highlighting the strategic location and potential returns of the project, which is part of Sharjah’s efforts to enhance its appeal as a long-term industrial investment hub. The decision is open to all nationalities, provided they hold a valid residency permit in the UAE, reflecting Sharjah’s commitment to equal investment opportunities and boosting the competitiveness of its real estate market.

According to Khaleej Times, Ahmed Al Amiri, General Manager of ASAS Real Estate, stated that the introduction of the 100-year leasehold option responds to the increasing demand for the Al Saja’a Industrial Land. He noted it provides flexible entry options for expatriate investors into Sharjah’s real estate and industrial sectors. Al Amiri emphasized that this initiative would attract new investor segments and support the expansion of industrial activities in a rapidly developing area, enhancing the project’s competitiveness in the region.

Al Amiri further explained that this new leasehold feature represents a significant advance in diversifying real estate options and encourages expatriate investment in crucial sectors of the local economy. He mentioned that the initiative underscores Sharjah’s progressive property legislation and enhances its attractiveness as an investment destination, thanks to its secure environment, modern infrastructure, and diverse offerings.

The Al Saja’a project features competitively priced industrial land starting at Dh1 045 000, with land sizes ranging from 9 500 to 30 000 square feet. Flexible payment plans of up to 24 months are available, alongside exclusive financing options from Sharjah Islamic Bank. Investors can also build warehouses with ground plus mezzanine floor configurations and incorporate labor accommodations in accordance with approved regulations, ensuring a comprehensive infrastructure for various industrial operations.