Sharjah opens up investment to expats

20.11.2014
Plots have gone on sale with prices ranging from AED110 a square foot to AED303 depending on plot size, position and usage. Sharjah is opening up its residential property market to direct investments by non-Arab expatriates holding a UAE resident visa, Gulf News reported.
For the first time, non-Arab expats can acquire plots at a newly launched master-development in Sharjah — the Tilal City — on 100-year leases. Until now, only UAE and GCC nationals were allowed to acquire plots and properties in the emirate.
The project is located on Emirates Road, close to Al Dhaid interchange, and 10 kilometres from Sharjah International Airport. Tilal City will eventually be home to 65,000 residents.
Plots have gone on sale with prices ranging from AED110 a square foot to AED303 depending on plot size, position and usage. The average plot will be around 7,500 per square feet, and investors could even acquire multiple plots or “entire zones”. Construction works have started on site, with full project completion projected for end 2017.

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