Sharjah24: In line with the commencement of roadworks for the "Al-Balida Lands" residential and commercial project, which has a total investment of 98 million dirhams, Asas Real Estate, the property development arm of Sharjah Islamic Bank, has announced a new set of incentives. These incentives include the developer covering the costs for registering initial contracts and transferring ownership to the first buyer at the Real Estate Registration Department upon purchase. Additionally, flexible payment options are being offered for those purchasing multiple plots in this strategically located project on Mleiha Road, near the Al-Suyoh residential district in Sharjah. The project allows freehold ownership for all Arab nationalities, making it an attractive opportunity for investors looking for diverse real estate options.
Ahmed Al-Amiri, General Manager of ASAS Real Estate, stated: "ASAS Real Estate is committed to enriching and supporting the investment and real estate landscape in Sharjah by providing unique features in key projects that help solidify the emirate’s economic standing and its reputation as a prime destination for real estate investors. We are broadening the range of real estate products available to meet the needs of Arab buyers residing in the UAE, offering them a quality living environment."
He confirmed that the project contractor has already started road construction. Additionally, Asas has introduced flexible and supportive solutions at competitive prices that align with the needs of investors and buyers, responding to current market conditions in the real estate development sector.
Al-Amiri further explained: "ASAS Real Estate has introduced a unique feature in the project, where the developer bears the cost of real estate registration fees, which include fees for the initial contract certification, and also covers the ownership transfer fees for the first buyer only. These fees are 2% for UAE citizens and 4% for Arab nationals, based on the land value. The project offers three flexible payment plans for residential plots, depending on the number of plots purchased: a 3-year payment plan for buying 20 plots or more, a 2-year plan for purchasing 10 or more plots, and an 18-month plan for purchasing less than ten plots. Commercial plots have a payment period of up to 24 months. Furthermore, the project offers special financing options through Sharjah Islamic Bank."
The land plots are available in various sizes to cater to different needs, with residential plots ranging from 2,250 to 19,000 square feet and commercial plots from 2,400 to 16,000 square feet. Asas Real Estate is offering competitive prices for the project, with residential land starting from 270,000 dirhams up to 2,405,000 dirhams, and commercial land prices ranging from 312,000 dirhams to 2,370,000 dirhams.
A dedicated team is available at the company’s main office on Mleiha Road in Sharjah to assist investors and provide detailed information on the features of their various projects. Sales for the project will continue throughout the week from Monday to Thursday, from 8:00 AM to 3:30 PM, and on Friday from 8:00 AM to 12:00 PM, until all plots are sold.
Asas Real Estate focuses on investing in the real estate sector, particularly in significant development projects, aiming to offer investment opportunities with high returns that match the growth rate of the UAE's real estate sector. The company partners with Sharjah Islamic Bank, as its subsidiary, to provide Sharia-compliant banking and financing solutions for its various real estate and investment projects.
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