Staff Report,
Dubai, UAE
Acres 2024 revealed that real estate deals worth Dh1.4 billion were signed at the Sharjah Expo Centre. Organized by Sharjah Chamber of Commerce and Industry (SCCI) and Sharjah Real Estate Registration Department (SRERD), the exhibition, which commenced on January 17, saw the participation of more than 93 developers showcasing 372 projects. The projects included residential, commercial and industrial developments.
Saeed Ghanem Al-Suwaidi, Chairman of the Representative Committee of the Real Estate Sector Business Group at (SCCI), and Chairman of the Organizing Committee of Acres, said, “A large number of participating real estate development companies have achieved exceptional success and concluded large deals with a total value amounting to surpass Dh1.4 billion. The exhibition has proven its ability to present what is new in the field of real estate investment in the emirate and the UAE, and has contributed to opening broader horizons for reviving and developing this sector, increasing its investments, and highlighting the emirate and country’s major urban renaissance.”
The 50 percent reduction on registration fees to buy property during the four-day event led to a high turnout of visitors and investors. The exhibition spanned an additional 60 percent of its area from last year to accommodate the large increase in the number of real estate and investment projects.
Abdul Aziz Ahmed Al-Shamsi, Director General of Sharjah Real Estate Registration Department, said, “The Acres Sharjah exhibition succeeded this year in concluding large real estate deals, which reflects the continued growth and prosperity of the real estate market in the emirate. The department recorded real estate deals worth Dh1.1 billion during the days of the exhibition, while the number of sales transactions executed by the department reached 700.”
Acres has recently unveiled that it will launch its first edition in Dubai on May 16 following its success in Sharjah since its establishment in 2008.
Mohammed Ahmed Amin Al-Awadhi, Director General of the Sharjah Chamber of Commerce and Industry (SCCI), said, “The great success achieved by Acres 2024 represents a true embodiment of the sustainable growth witnessed by the exhibition, and the leading position it occupies as one of the largest and most important exhibitions specialized in the real estate sector in the region”.
As one of the leading developers in Sharjah, Shurooq has launched major projects to enhance the emirate’s real estate industry. Additionally, it is working on the development of Sharjah’s distant areas, such as Khorfakkan. Shurooq’s prime projects include Ajwan in Khorfakkan and Maryam Gate Residences on Maryam Island.
Ahmed Obaid Al-Qaseer, Executive Director of the Sharjah Investment and Development Authority (Shurooq), said, “We are delighted about our participation in the exhibition. Our displayed projects embody our commitment to enhancing Sharjah’s role in providing an integrated living environment that enjoys luxury and sustainability.”
Other participating real estate firms revealed the volume and worth of sales they made at the exhibition. Reportage Real Estate secured property deals of about Dh100 million on five local and international projects, attracting about 800 buyers. Alef Group showcased two of their Sharjah-based projects, Hayyan and Al Mamsha, and made approximately Dh310 million worth of sales. Shomous Properties recorded real estate deals worth Dh40 million and attracted about 400 visitors. Meanwhile, Al-Haibah Real Estate Company, developer of Al-Tayy Commercial Project, recorded deals amounting to Dh110 million. Emirates Industrial City Company sold lands worth approximately Dh10 million.
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