All foreign nationalities will be allowed to lease properties for 100 years in Sharjah’s new Dh2 billion mixed-use project, Tilal City, according to the developer.
Tilal Properties, the new joint venture between Sharjah Asset Management and Eskan Real Estate Development, will sell freehold land plots for GCC and Arab Nationals, but all other nationalities will be entitled for a 100 year leasehold.
Tilal City is one of a series of projects that will be implemented by Tilal Properties and it will allow UAE residents to buy properties on a 100-year leasehold basis, according to the laws regulating Sharjah’s property market,” Sheikh Sultan bin Ahmed Al Qasimi, Chairman, Tilal Properties, said during the launch of the project.
The Sharjah Executive Council recently issued Resolution No. 26 of 2014, which allows foreign investors the right to own properties in Sharjah for up to 100 years.
