SHARJAH (WAM)
Abdulaziz Ahmed Al-Shamsi, Director-General of the Sharjah Real Estate Registration Department, said that the Fourth Industrial Revolution brings both significant challenges and vast opportunities to various economic sectors, including real estate.
He highlighted the importance of the Sharjah Investment Forum, held this year under the theme 'A Futuristic Vision for Smart Economies', as a platform to showcase the smart investment environment offered by the UAE, particularly Sharjah. The forum seeks to attract investors to innovative projects that contribute to economic diversification, improve efficiency, and ensure sustainable growth.
Al-Shamsi also noted that the department has effectively utilised the advancements of this new era by implementing smart solutions to address investor challenges. The focus has been on digital transformation and automating processes to offer modern and innovative services, making it easier for investors to operate. He further mentioned that, as a result of these efforts, Sharjah's real estate sector saw a 22 per cent growth in the number of foreign investors during the first half of the year compared to the same period last year, attracting investors from 100 different nationalities.
In this context, Al-Shamsi explained that the number of properties traded by foreign investors in the emirate during the first half of this year reached 5,914, marking a growth rate of 84.6 per cent. Meanwhile, the total number of foreign investors reached 5,422, with a growth rate of 74.4 per cent, while their cash trading volume reached Dh8.3 billion, reflecting a 115 percent increase compared to the same period last year.