Sharjah is the third most populated city in the UAE and is considered the cultural hub of the country. But this doesn’t entirely mean that it has a deep traditional tinge in its environment. Rather, it has a mix of modern cum traditional culture, i.e., best of both worlds.
So, why invest in Sharjah?
Let’s answer this question from an investor’s point of view.
Sharjah is centrally located between Europe and East Asia, and it offers easy access to major seaports and international airports in Indian Ocean and the Arabian Gulf. This is the main reason it is considered as an ideal investment spot for multinational firms, business entrepreneurs and startups.
Here are a few interesting reasons to invest in Sharjah.
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Sharjah has developed and modernized seaports which link it to the free zones across the rest of the world. Similarly, Air Arabia has its headquarters in Sharjah International Airport that connects the city to 100+ destinations worldwide.
This strategic location and positioning have contributed to making the city an ideal trading and investment hub. Moreover, the region hosts many activities (and events) related to movement, research, industry and laboratories.
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The department in charge of licensing and registration of corporate bodies in mainland Sharjah is Sharjah Department of Economic Development (SEDD). The registration and licensing procedure of SEDD is simplified and offers ease of registration based on business activities.
The federal law CCL (UAE Commercial Companies Law) regulates all entities in the mainland country and is subjected to amend 100% overseas ownership. Any company, be it a federal or local government entity that is registered on the Sharjah mainland can conduct their business all over the UAE.
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Over the years, Sharjah has transformed into a main hub for culture, heritage and art. UNESO has accredited Sharjah with the Cultural Capital of the Arab World as it is home to one fourth of the entire UAE’s historical places. And that’s the reason, tourism sector in the emirate is a perfect opportunity for startups and enterprises.
With top quality restaurants and hotels, it accommodates more than 1 million tourists every year. This booming tourism is one of the leading reasons for businesses to invest in Sharjah.
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Sharjah has 6 free zones ideally located near top transport areas to facilitate the logistics requirements of investors. The free zones have 0% personal income tax and 0% corporate tax, making it a business-friendly option. This highlights the fact that there are no export, import or re-export charges or any kind of custom duties.
The real estate in Sharjah offers diverse investment potential, be it residential or commercial. As there is a constant increase in the population, the government of Sharjah is constantly working on boosting the property sector.
One thing to note here is that the overall rates of the property sector have dropped all over the UAE, and this leads to more investment opportunities in this sector. Sharjah is ideal for residential as well as commercial point of view. And if you are looking for houses in a relatively less hectic setting, Sharjah offer some idea options such as Al Nahda and Al Majaz, Al Gaweer and Al Nabaa.
Al Majaz is an ideal investment neighborhood in Sharjah, it has both commercial and residential spaces. Due to the diversity of the area, most foreign investors find it more appealing.
Read also: Al Majaz Sharjah, Area Guide
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Al Nahda Residential Building A1 is a mixed used building and it offers apartments as well as retail shops. The building has basic facilities and amenities for the residents and shop owners.
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Offices, commercial shops and showrooms in Sharjah are great in terms of investment point of view. Because of the city’s supportive government policies and booming economy, it ensures steady income.
The workspaces in Sharjah provide a high-end lifestyle while exhibiting environmental sustainability and state-of-the-art technology.
That’s why investing in commercial shops in Sharjah means more than just buying property. It translates into ensuring a prosperous financial future. So, make a wise decision and buy (or rent) a commercial property in Sharjah to increase your fortune.
The overall cost of apartments for rent in Sharjah is comparatively less than those in Dubai and Abu Dhabi. If you are looking to rent commercial real estate in Al Majaz, contact our real estate agent, we have some profitable properties for you.
Related: Tips for Renting a Commercial Property
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When it comes to entertainment, Sharjah may be considered inferior to Dubai but in terms of comfort and opportunities, it is on a par. With each passing year, more and more investors opt for this city.
And why is that so?
Because of lower living cost, promising real estate and more governmental support for companies.
As mentioned earlier, Sharjah is an emirate with a location benefit as it allows for a huge range of logistic related opportunities. Approximately 62% of the industrial area comprises of freight and logistics sector, Sharjah’s export and re-export market is growing day by day.
Similarly, multiple possibilities exist in the manufacturing industry making it the second biggest sector in Sharjah.
The production and manufacturing sector is highly sought after from an investment point of view as it accounts for more than 16% of the emirate’s GDP.
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Sharjah is home to more than 50,000 small to mid-size businesses. The city is labeled as the center of innovation as it houses organizations with multiple levels of support for new businesses.
These include business acceleration programs, commercial incubators, and much more. The annual Entrepreneurship Festival, an event that occurs every year in Sharjah, plays an important role in bringing together the world’s most talented individuals.
The government’s approach to sustainable initiative, e-transformation and digitalization is the core principle of its cultural revolution.
Read also: How Is Living in Dubai Different from Living in Sharjah?
The government of Sharjah does not enforce any income tax and allows complete profit transfer. This means that big corporations, startups and individual investors are subjected to tax free income. Only oil companies and foreign banks are liable to taxation. As Sharjah is a city with a 0% tax economy model, this makes it an ideal investment destination.
Absolutely yes! As per our real estate experts, Sharjah is currently one of the most sought-after cities when it comes to foreign investment. With its stable economy, investor-friendly rules and strong political structure, it is the favorite place for a huge chunk of local and foreign investors.
As Sharjah is ideally located between East Asia and Europe, with seaports and airports connecting to other parts of the world, its positioning contributes to higher investment potential especially in manufacturing, logistics and trading sectors.
When we compare Sharjah to other local markets, there is a contrasting difference, i.e., the economy being more stable. As the emirate has promising opportunities for entrepreneurship, effectiveness, flexible work environment, highly talented labor, quick access to capital, it has more economical stability than other areas.
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Sharjah is embracing opportunities and challenges by utilizing high-end technologies to encourage industries, boost research competencies, and invite foreign direct investments.
That’s why our real estate experts foresee the future of investment in Sharjah to be optimistic and positive. Furthermore, the local housing sector is relatively cheaper than Dubai and it has great potential for profitable ROI.
So, if you are considering to buy or rent real estate in Sharjah, this is the perfect time to invest in the emirate.
Or if you are looking to rent commercial property in Sharjah, get help from our talented real estate agents. We can help you find a rental property with 0% commission on rent.
