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Sharjah Approves New Draft Law Regulating Real Estate Leasing in 2024

Sharjah Approves New Draft Law Regulating Real Estate Leasing in 2024

The Sharjah Consultative Council (SCC) has given its approval for a new draft law governing real estate leasing in Sharjah for the year 2024. This significant development follows a series of amendments made to the draft law during the sixth meeting of the first regular session of the eleventh legislative term.

Counselor Dr. Mansour Mohammed bin Nassar, Head of the Legal Department of the Government of Sharjah, commended the role of the SCC in finalizing the legislative process for draft laws. He highlighted the importance of the new draft law in establishing a regulatory framework for the relationship between landlords and tenants, aligning with the existing laws in Sharjah.

Dr. Nassar emphasized Sharjah’s appeal as an attractive environment for investors and families, necessitating robust laws and legislation to govern real estate transactions comprehensively. With the previous law dating back to 2007, amendments were deemed necessary to accommodate developments and address the evolving needs of stakeholders.

Khaled Falah Al Suwaidi, Director of Customer Service at Sharjah Municipality, underscored the significance of the draft law in enhancing tourism, investment, and residential appeal in the emirate. He highlighted the regulatory articles within the draft law aimed at fostering a conducive environment for real estate activities.

The meeting, chaired by Dr. Abdullah Belhaif Al Nuaimi, Chairman of SCC, saw discussions on the draft law’s provisions, objectives, and competencies. Members of the council deliberated on various aspects of the law, offering opinions and inquiries that were addressed by government representatives present at the meeting.

The approved draft law marks a significant step towards regulating the real estate leasing sector in Sharjah, ensuring transparency and accountability in landlord-tenant relationships. Its enactment reflects Sharjah’s commitment to fostering a thriving real estate market aligned with the emirate’s socio-economic goals.

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