ACRES 2023 successfully concludes its eighth session

ACRES 2023 successfully concludes its eighth session

SHARJAH, 28th May, 2023 (WAM) -- The eighth edition of the Sharjah Real Estate Exhibition (ACRES 2023) successfully concluded its activities on Sunday, 28th May 2023.

The exhibition, hosted at Expo Centre Sharjah from 25th until 28th May, was organised by Sharjah Chamber of Commerce and Industry (SCCI) and Sharjah Real Estate Registration Department (SRERD), and it succeeded in attracting thousands of visitors, investors, and entrepreneurs from inside and outside the UAE.

The exhibition witnessed the signing of a large number of commercial deals and partnerships, which reflected the diversity of investment options and the financial facilities and incentives provided by participating local, Arab, and foreign companies and institutions specialised in real estate sector.

This year, the exhibition witnessed an increase in the number of real estate and investment projects presented by major real estate development companies from other emirates. Moreover, there was 27 percent growth in the number of participating companies, which varied as being financial institutions, insurance and legal consultancy companies, real estate management services, engineering services and project management companies, and in addition to emerging companies in the field of real estate technology and artificial intelligence, which had a special pavilion that attracted many visitors.

Both visitors and participants expressed their admiration for the level of organization witnessed in the exhibition, its services, the high credibility of the displayed real estate products in its pavilions, and the diversity of projects and investment opportunities offered by the exhibition; including housing units, urban projects, homes, and various tourist and commercial facilities.

Abdalla Sultan Al Owais, Chairman of SCCI, said, “The exhibition succeeded in attracting hundreds of businessmen, investors, and real estate developers who praised Sharjah’s promising real estate and investment opportunities, which the exhibition succeeded in highlighting throughout its period. In addition, ACRES 2023 served as a large platform for investors to display and promote their current and future projects, which in turn contributes to revitalizing the real estate investment environment in all its fields in the emirate.”

For his part, Abdulaziz Ahmed Al Shamsi, Director-General of SRERD, said, “ACRES 2023 highlighted the investment advantages enjoyed by Sharjah, and the great various facilities provided by our wise government to encourage investment, which in turn contributed to attracting more investors and capital from various countries in the region and the world."

“The exhibition is part of the department's strategy to promote investment in the real estate sector in Sharjah, and to introduce the incentives and facilities which the department provides to investors, businessmen, and people wishing to own or be part of the thriving real estate market in the emirate,” he added.

Saeed Ghanem Al Suwaidi, Chairman of the Representative Committee of the Real Estate Sector Business Group at SCCI, and Chairman of the Organising Committee of ACRES, commented, “The exhibition reflects the strength of the real estate sector in Sharjah, and the wide options it offers to individual and institutional investors in terms of real estate. In addition, the exhibition reflects the position of the emirate as an attractive and distinguished investment destination, and a major commercial hub in the region, especially in light of its flexible legislation and the package of incentives and facilities offered for investors and buyers.”

The exhibition also presented an integrated programme of training courses, free workshops, and specialised discussion sessions in both Arabic and English, discussing various topics, such as the latest innovations and developments in the real estate sector, and the latest real estate technology systems that are of interest to workers and those interested in real estate affairs.

Moreover, Sharjah Real Estate Registration Department presented a number of courses, discussion sessions, and workshops, the most important of which was the session titled "Real Estate Investment... Opportunities and Prospects", which presented the great investment opportunities in the Sharjah, the government incentives, the support for foreign investment and ownership, and the reduction of buying fees for non-GCC citizens from 4 percent to 2 percent of the sale value.

Other sessions also discussed the estate legislation regulating the market to preserve the rights of investors, such as the decision issued by the Executive Council of Sharjah No. (9) of 2022 regarding regulating the ownership and use of real estate by companies and institutions in the emirate, as it is the first legislation of its kind in the country that puts in a practical legal framework to manage all transactions related to the rights of ownership and usufruct of companies, institutions, and legal parties in Sharjah.

Additionally, there was a "Financial Management and Investment" course, and many other courses, workshops, and sessions aimed at educating the public and introducing them to the many investment opportunities in the emirate.