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Landlords in Fujairah have been the biggest beneficiaries of the increased rents in Dubai and Sharjah. For years, Sharjah had been the popular refuge for tenants looking to escape the high rents in Dubai. But the significant rise in rents in Sharjah has forced many of them to look east and settle in Fujairah. Many Sharjah residents from areas like Al Khan, Al Nahda and Al Majaz are getting priced out with rents increasing by 5 to 7 per cent in the last three months.
Thanks to the improved road connectivity from Dubai, Fujairah is no longer considered a remote part of the development. One can reach Deira from Fujairah City Centre at about an hour and 30 minutes using the Shaikh Khalifa Road.
Sadiq Ur Rehman, a senior sales executive at Fujairah Real Estate, says there has been a marked improvement in the infrastructure in this eastern emirate including better roads, more schools and even shopping malls to attract residents from Dubai and Sharjah.
Some of the areas in Fujairah which have seen sharp rental hikes include Al Faseel, an area known for its sea-facing villas. A two-storey three-bedroom villa which fetched an annual rent of Dh50,000 six months ago is now commanding a price of Dh75,000. A two-bedroom house with modern amenities located in popular residential areas like the Shaikh Hamdan Bin Abdullah Street (popularly known as Bank Street) with an annual rental tag of Dh55,000 is now up to Dh60,000.
Ajman has also seen an uptick in prices, but the lack of electricity in most of the new buildings has been a big deterrent for tenants. Currently, most of the apartments run on generators, though the homeowners are hoping their buildings will soon be connected with electricity in the next six to eight months.
One of the popular areas in Ajman is Corniche where the current annual rent of a one-bedroom house is around Dh40,000 to Dh45,000. A similar property would have been available for around Dh30,000 to Dh35,000 six months ago.
• Many new buildings in Ajman lack electricity discouraging new tenants
• Better and improved infrastructure props up property demand in Fujairah
• Fujairah's Al Faseel and Bank Street areas have witnessed increased rents
Click on Residential Rents which are on the rise across Ajman
Source: S. Dhar, Special to Properties
The writer is a freelancer