Sharjah’s Al Rayyan development offered on 100-year leasehold

Residential units at the 40-storey twin-tower Al Rayyan development in Sharjah’s Al Nahda locality are being offered at 100-year leaseholds to all UAE residents as well as other qualified buyers.

The Dh700 million project — 70 per cent complete — will cover 2.7 million square feet and is to have 504 leasehold apartments.

Buyers will receive a 2 per cent discount if they book during Cityscape.

“This is the first time that a completed development in Sharjah is being offered with 100-year leasehold to UAE residents that are non-GCC nationals,” said G. Ramakrishnan, CEO of Al Rayyan International Real Estate.

There is also a commercial tower with offices on 28 floors, as well as a hotel on the top 12 floors which comes with 200 hotel apartments. A retail area spans 19,000 square metres.

“We are offering a 2 per cent discount off the purchase price during Cityscape as an incentive to buyers,” said Ramakrishnan.

Source: Staff Report,


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