A survey of 127 high net worth individuals in the Gulf found Sharjah was rated the third most popular investment location in the Middle East, after Dubai and Abu Dhabi and ahead of regional capital cities such as Doha, Riyadh, Kuwait City and Muscat.
One of seven emirates that makes up the United Arab Emirates, Sharjah’s increased popularity as an investment destination has been attributed to the introduction in late 2014 of new regulations allowing non-Emirati investors to buy property in the emirate.
“The Syrians have bought in large quantities here,” Suzanne Eveleigh, head of Cluttons’s office in Sharjah, told Zawya in an interview.
“It is a conservative and steady market without the peaks and troughs in other markets so people feel comfortable buying here. For Syrians and other Arabs it is quite a conservative place and it fits well with their conservative values. It is a really family place so it has been extremely popular.”