‘ACRES 2024’ real estate deals surpass Dhs1.4b for all projects

The activities of “ACRES 2024”, organised by Sharjah Chamber of Commerce and Industry (SCCI) and Sharjah Real Estate Registration Department (SRERD), was concluded on Saturday evening, at the Sharjah Expo Centre during the period from January 17th-20th.

The exhibition achieved Real Estate deals with a total surpass Dhs1.4 billion for all projects, and witnessed a huge public turnout by citizens, residents, investors, and businessmen from inside and outside the UAE, in addition to private and public Real Estate institutions. Moreover, exhibitors and visitors praised the great organisation and management of the exhibition.

Because of its distinguished reputation, the exhibition has attracted more than 93 specialised real estate companies from major companies in the region and the world, in addition to the participation of a wide spectrum of real estate brokers, financial institutions, legal services companies, security solutions, security and safety, project management, robotics and intelligence, artificial institutions companies, in addition to government departments interested in real estate.

The decision of Sharjah’s Executive Council to reduce registration fees for the transactions of projects in the emirate, which was exclusively implemented during the exhibition days, clearly contributed to increasing visitors and investors numbers. It also contributed to motivating developers to showcase the latest and most important new projects. This decision is one of the initiatives which supports the business community, enhances its role in the economic field, and encourages investment.

Moreover, this year ACRES achieved an increase in its area by 60 per cent over last year, in order to accommodate the large increase in the number of real estate and investment projects, and to provide the necessary space for companies to present their projects to visitors and investors.

Visitors to the exhibition expressed their admiration for the level of organisation and great services provided by the exhibition’s Organising Committees, in addition to the incentives and financial facilities provided by the exhibiting companies in cooperation with the participating banking institutions. The visitors also praised the diversity of the projects and the luxurious real estate units which meet all tastes, and included residential apartments, commercial, and industrial real estate projects.

Abdul Aziz Ahmed Al-Shamsi, Director General of Sharjah Real Estate Registration Department, said: “The ACRES Sharjah exhibition succeeded this year in concluding large real estate deals, which reflects the continued growth and prosperity of The Real Estate market in the emirate. The department recorded real estate deals worth Dhs1.1 billion during the days of the exhibition, while the number of Sales and Final Contract transactions executed by the department reached 700.

His Excellency also stated, “The department was keen to participate in two platforms within the exhibition, in order to smoothly carry out all procedures for customers and investors. We received hundreds of customers, and their transactions were processed quickly, transparently, and accurately. In addition, we answered visitors’ questions and inquiries regarding the services provided by the department to residents, investors, and businessmen.

Moreover, Al-Shamsi praised the distinguished organisation of the exhibition by the Sharjah Chamber of Commerce and Industry (SCCI), along with the department and “Leader Events Management” company. He also thanked all parties and companies participating in the exhibition.

His Excellency Mohammed Ahmed Amin Al-Awadhi, Director General of the Sharjah Chamber of Commerce and Industry (SCCI), confirmed, “The great success achieved by “ACRES 2024” represents a true embodiment of the sustainable growth witnessed by the exhibition, and the leading position it occupies as one of the largest and most important exhibitions specialised in the real estate sector in the region”.

Al-Awadhi pointed out the keenness of Sharjah Chamber, in cooperation with its strategic partners, to continue organising the exhibition, ensuring all the elements of its success, and enhancing its role in terms of contributing to the development of the real estate sector. His Excellency also praised the decision to expand the Real Estate Exhibition “ACRES” and the announcement of the launch of the “ACRES Dubai Exhibition”, which came in light of the great success achieved by Sharjah’s sessions since its launch in 2008.

His Excellency 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”, said, “A large number of participating real estate development companies have achieved exceptional success and concluded large deals with a total value amounting to surpass Dhs1.4 billion. The exhibition has proven its ability to present what is new in the field of real estate investment in the emirate and the UAE, and has contributed to opening broader horizons for reviving and developing this sector, increasing its investments, and highlighting the emirate and country’s major urban renaissance”.

His Excellency Ahmed Obaid Al-Qaseer, Executive Director of the Sharjah Investment and Development Authority (Shurooq), said: “We are delighted about our participation in the exhibition. Our displayed projects embody our commitment to enhancing Sharjah’s role in providing an integrated living environment that enjoys luxury and sustainability. Through our pavilion, we were able to contribute to the continued development of the economic scene in the emirate, and we also witnessed a significant increase in demand for real estate and investment opportunities”.

For his part, Aref Al-Khoori, Chairman of the Board of Directors of Reportage Real Estate, said: “This is our first participation in the exhibition, as we aim to explore the real estate market in Sharjah. During the exhibition’s four days, we achieved real estate deals worth about Dhs100 million, as we participated with five projects, from inside and outside the country, and attracted about 800 customers interested in real estate (150-200 daily). Therefore, we thank the Organising Committee for preparing this truly distinguished exhibition”.

Issa Ataya, Chief Executive Officer of Alef Group, said: “We thank the government of Sharjah and the organisers of “ACRES”. We are proud to participate this year and we thank everyone who attended the exhibition, both citizens and residents, who expressed their confidence in our projects. It was a great opportunity for us to communicate with local and international investors, real estate agents, and other participants”. He added, “We presented our main real estate projects, “Hayyan” and “Al Mamsha” - Sharjah, and they received great attention, as sales during the days of the exhibition amounted to approximately Dhs310 million, and we look forward to presenting more projects to the public in the future.”