Search Site

Trends banner

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Sharjah unveils ‘Holiday Homes Project’ to boost economy

The number of mortgages amounted to 733 with a total value of US$193 million. (WAM)
  • SCTDA has mandated that the residential units be rented out on a rotational basis, regularly.
  • The project will also empower prospective users with a new source of income recognized by the Government of Sharjah

Sharjah Commerce and Tourism Development Authority (SCTDA) has launched the Sharjah Tourism’s ‘Holiday Homes Project’ to allow Sharjah residents to rent out places as holiday homes to tourists and visitors.

As per the terms and standards approved by SCTDA, the residential units can be rented out on a rotational basis, regularly.

According to estimates, there are currently over 300 holiday homes in Sharjah. The first year of the project will see the registration and licensing of 150 holiday homes.

The project will also empower prospective users with a new source of income recognized by the Government of Sharjah, offering them official guidance on operating requirements, classification criteria, violations and other mechanisms.

Khalid Jasim Al Midfa, Chairman of SCTDA, said: “With Sharjah Tourism’s Holiday Homes project, the emirate’s aspirations to continue advancing this sector has crossed a meaningful milestone, as the initiative not only introduces an innovative new service to the tourism landscape but also puts Sharjah’s home owners at the forefront of benefiting from a drive that is poised to drive more visitors from around the world to the emirate.”

The chairman said that Sharjah was looking to enhance visitor experience by making sure they receive quality service. “It will further strengthen cooperation between the Authority and the providers of holiday homes by developing a system of legislation and regulations. This will contribute to diversifying the sources of growth for the hospitality sector.”

Some 15 operating companies will be involved in the process, and the holiday homeowners will be given three months to complete the documentation process.

The first phase of the project includes organizing field visits and inspection campaigns, as well as electronic or digital follow-up of holiday homes, their operators, and owners.

The Authority is also working on strengthening cooperation and coordination with several government agencies in Sharjah for developing regulatory procedures for holiday homes.

These entities include the Department of Economic Development, Sharjah Municipality, Department of Planning and Survey in Sharjah, General Directorate of Civil Defense in Sharjah, and Sharjah Police.