Sharjah Plans To Launch Rental Index To Reduce Disputes Between Tenants, Landlords
Date
1/13/2025 6:35:48 AM
(MENAFN- Khaleej Times)
Sharjah is planning to launch a rental index, bringing more transparency in the emirate's Real estate market and boost confidence among investors as well. The index will come with a map of Sharjah, which will allow people in the emirate to see rents in their respective areas.
Saeed Ghanem Al Suwaidi, chairman of the Representative Committee of the Real Estate Sector Business Group at the Sharjah Chamber of Commerce and industry (SCCI), said the rental index will be launched by Sharjah Digital in cooperation with the Sharjah Real Estate Department.
In an interview with Khaleej Times on the sidelines of the Acres 2025 exhibition, he hoped that the index would be launched by the exhibition, which will run from January 22 to 25 at the Sharjah Expo Centre.
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The index will bring more clarity to the rental market, reducing disputes between tenants and landlords .
Earlier this month, Dubai launched the 'smart rental index', which involves building classification, old and new tenancy contracts in the buildings, and rents in the area, among other things. Abu Dhabi Real Estate Centre also launched its inaugural rental index in August 2024 to increase transparency and provide indicative rental value.
Issa Ataya, CEO of Alef Group, said they encourage index and the launch of any other initiatives that make the“market more transparent.
He added that the index“will improve trustworthiness in the emirate's market. As a market player, we will benefit from the index.”
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