Construction & Real Estate
From The Report: Sharjah 2023
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Sharjah’s economic evolution is driven by vibrant construction and real estate sectors. The 2024 budget allocated $11.1bn, emphasising infrastructure, economic and social development. Real estate contributes significantly to Sharjah’s GDP, generating $6.6bn revenue in 2022, helped in part by competitive mortgage rates, low taxes and enhanced transport links.
Expatriates are a substantial segment of the population and are driving property demand. Legal changes in recent years have allowed non-UAE or GCC nationals freehold property ownership, spurring foreign investment. Meanwhile, the construction industry is supporting economic growth by expanding industrial sites and free zones.
Initiatives like Sharjah Sustainable City and green construction investment underscore the emirate’s commitment to sustainability. Ongoing infrastructure projects bolster connectivity, confirming Sharjah’s position as a resilient and innovative investment destination.

This chapter contains interviews with Yousef Al Mutawa, CEO, Sharjah Sustainable City; and Ahmed Alkhoshaibi, Group CEO, Arada.

Articles from this Chapter

Overview

Expanded offerings: Mixed-use developments and upgraded transport links aim to draw both commuters and international firms
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The construction and real estate sectors have supported Sharjah’s economic development in recent years as the emirate’s government pursues further economic diversification and sustainable growth. Real estate demand is dominated by mixed-use developments, which incorporate hospitality, leisure and cultural offerings. High prices in neighbouring northern emirates, coupled with Sharjah’s competitive mortgage rates and low taxes, are encouraging more expatriates to invest in the real estate market,…

Interview

Centre of change: Yousef Al Mutawa, CEO, Sharjah Sustainable City, on fostering innovation and sustainability alongside economic development
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Interview:Yousef Al Mutawa, CEO, Sharjah Sustainable City In what ways is Sharjah addressing the challenge of balancing economic development and sustainability in its urban development policies? YOUSEF AL MUTAWA: Over the years Sharjah has transformed into a regional centre for arts, culture and industry. With a focus on both economic and social development, the emirate has cultivated an environment that is human-centric and infrastructure-driven. As urban development expands, environmentally…

Interview

Unlocking doors: Ahmed Alkhoshaibi, Group CEO, Arada, on initiatives to expand homeownership to younger generations and first-time buyers
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Interview:Ahmed Alkhoshaibi, Group CEO, Arada How are sustainable building practices influencing urban development and enhancing the attractiveness of real estate investment? AHMED ALKHOSHAIBI:Developers and other companies involved in construction and real estate are starting to understand that a sustainable approach is not just good for the environment, but also for customers and business outcomes. With the COP28 UN Conference on Climate Change hosted by the UAE in November 2023,…