Sharjah has established a regional and worldwide reputation as an attractive FDI destination that provides firms and investors with a wide range of competitive benefits regional expansion prospects, and long-term growth.

The 100% foreign ownership law would bolster Sharjah's strong economy even further.

During an exclusive interview with Gulf Today, Issa Ataya, CEO of Sharjah-based Alef Group, noted that the stimulus packages and incentives offered by UAE authorities have played a significant role in the real estate sector thriving and increasing.

He remarked that the COVID-19 epidemic had an impact on many enterprises and sectors, but Alef Group grew despite the difficulties.

We recorded a 34% rise in sales for our Al Mamsha project in the first half of 2020. That demonstrates the strength and endurance of the Sharjah real estate industry, and the unwavering devotion of our staff amid extraordinary circumstances.

Alef Group, headquartered in Sharjah, is a forerunner in the development of top lifestyle communities, attractions, and experiences via investment and strategic joint partnerships.

“Our purpose and vision are inextricably linked, to develop top integrated lifestyle communities in Sharjah and beyond, and is an inspired living experience supplier that enhances people's lives,” he said.

During a press conference held at Sharjah Research and Technology Innovation Park on Wednesday, Alef Group opened the Al Mamsha Seerah phase of its flagship project "Al Mamsha," one of the most important mixed-use developments in the UAE.

Mostly during a press conference, Ataya emphasized the importance of the project in conserving elements of Sharjah's rich history, and its leadership in the fields of culture, education, and urbanism to achieve the late Sheikh Khalid Bin Sultan Al Qasimi's vision of providing a modern life for local social groups and local retailers.

Ataya stated, "We are thrilled to debut "Al Mamsha Seerah," a one-of-a-kind Sharjah project that offers inhabitants a modern way of life and great living standards." We at Alef Group are aware of the impact COVID has on the world and the resulting shift in behavior and lifestyle. As a brand, we are responding to such transformations and continually reevaluating the market to do so. With that, we are excited to introduce “Al Mamsha Seerah” to Sharjah's inhabitants and citizens.”

Ataya said, "The "Al Mamsha Seerah" project is the crown gem of Sharjah real estate developments, contributing to Sharjah's already extraordinary qualities as a contemporary and developed city, and fitting the requirements of a new real estate sector." This project is a quality addition to the environment and fits the requirements of inhabitants, with three residential complexes totaling 1,699 units distributed across 11 buildings, offering a choice of studios, 1-, 2-, and 3-bedroom flats. As per the highest international quality standards, all units are outfitted with the greatest facilities and services. The project is scheduled to be completed in the fourth quarter of 2024.

Residents and guests may make use of a variety of services and amenities at “Al Mamsha Seerah.” Swimming pools, football fields, basketball courts, volleyball courts, tennis courts, and cricket nets are all part of the project, as are open green spaces, retail businesses, children's zones, and a variety of other recreational facilities.

Within the entertainment section, Al Mamsha has areas dedicated to organizing events, shows, and live exhibitions and spaces for staging special occasions that meet the demands of the public. Its residential apartments are also differentiated by their reasonable costs, payment options, mortgages, and simple financing in collaboration with several country's main banks.

Meanwhile, according to a report released last month by Sharjah's Real Estate Registration Department, the emirate's real estate sector accomplished several transactions totaling Dhs 6.7 billion during the first quarter of 2021, representing an increase of 84.9% during the first quarter of 2020. The overall number of transactions completed in the last three months reached 20,448 transactions, a 10.3% rise over the same period last year. Furthermore, the emirate's overall trading area surpassed 60.3 million square feet.