Search

SEC Approves Reduction in Buying and Selling Fees at ACRES.


Sharjah: H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and Chairman of the Sharjah Executive Council (SEC), led a meeting of the Council on Tuesday, with the presence of H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Vice Chairman of the Executive Council, at the Ruler’s Office.

According to Emirates News Agency, in response to the notable growth in the real estate sector in Sharjah and heightened interest from investors, the SEC approved a reduction in sale and purchase fees for transactions at the ACRES Real Estate Exhibition 2025. The sale fee for real estate developers will be set at 0.5%, while the purchase fee for UAE citizens and GCC nationals will be 1%, and for other nationalities, 2%.

The SEC also issued a decision regarding the Rental Disputes Center, which includes establishing an Enforcement Department under the supervision of the Enforcement Judge at the Center’s headquarters. This department will monitor the exe
cution of judgments and enforcement decisions.

Furthermore, the decision detailed legal provisions concerning appeals against enforcement decisions, suspension of enforcement procedures, notifications, coercive measures, inventory, guardianship, public auction sales, outsourcing enforcement services, and execution and publication.

Additionally, Judge Dr. Mohammed Obaid Al Kaabi, Chairman of the Sharjah Federal Primary Court, was appointed as the judicial supervisor of the Rental Disputes Center.

The Council issued a decision on regulating the collection of donations and endowment funds in Sharjah, applying to government entities or charitable organizations and endowment funds. This includes methods of collecting donations, prohibitions, conditions for permits, and obligations of authorized entities.

Regarding endowment funds, the decision includes provisions for permits, conditions for applicants, endowment banks, obligations, and prohibitions. It also covers legal provisions related to final rulings, sus
pension or closure of bank accounts, violations, and administrative penalties.

The Council also reviewed a plan for employing specialized Emirati personnel at Sharjah International Airport, aligning with the airport’s expansion and upgrades. The emphasis was on training staff with top educational and training programs to enhance their skills and portray a prestigious image of the UAE and Sharjah.

Popular Post

Pages