Non- Gulf Cooperation Council (GCC) expatriates with a valid UAE resident visa can now buy apartments in Sharjah’s Al Rayyan development on leasehold basis, Emirates 24/7 reported.
“This is the first time that non-GCC expatriates, but with a residence visa, can own a property in our tower, which is located in Al Nadha district, on a leasehold basis,” Randa Kamal, CEO, JMS Property Development & Management, told Emirates24|7.
The AED700-million Al Rayyan development comprises two residential towers with 504 dwellings, a commercial tower that will also include served apartment options, and a retail complex housing 80 to 90 shops and a hypermarket. Prices for one-beds to four-bed penthouses will range between AED750,000 to AED4.5 million.
In September 2014, another Sharjah-based developer had told this website that Arab nationalities could buy a maximum of five apartments, but there was no restrictions for GCC nationals.