Sharjah to set up new entity to handle rental disputes
SHARJAH, February 13, 2024
Sharjah Executive Council (SEC) has given approval to the proposed laws regarding leasing of real estate and also for establishment of the Rental Disputes Centre in the northern emirate.
The SEC meeting, which was chaired by HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, also discussed a proposal for draft rental legislation in the emirate.
The aim of this proposed legislation is for rental regulations and also develop the legislative structure in conjunction with urban development and demand in the real estate sector, reported Wam.
In addition to this, it will help streamline government procedures, protect the rights of all parties, and make it easier for landlords and tenants alike.
The SEC later reviewed the report on the ninth session of the Sharjah Real Estate Exhibition (ACRES 2024), which drew 93 real estate companies from the region. The value of real estate transactions soared to AED1.3 billion through 691 sales transactions, it added.
