Sharjah: Sharjah is set to introduce a rental index aimed at increasing transparency in the emirate's real estate market and reducing disputes between tenants and landlords. The index, which will feature a detailed map of the emirate, will allow residents to view rental rates in their respective areas.
The initiative, spearheaded by Sharjah Digital in collaboration with the Sharjah Real Estate Department, was announced by Saeed Ghanem Al Suwaidi, chairman of the Representative Committee of the Real Estate Sector Business Group at the Sharjah Chamber of Commerce and Industry (SCCI). Speaking on the sidelines of the Acres 2025 exhibition, Al Suwaidi expressed hope that the rental index would be officially launched during the event, scheduled to take place from January 22 to 25 at the Sharjah Expo Centre.
"The index will bring more clarity to the rental market, reducing disputes between tenants and landlords while boosting confidence among investors in the emirate's real estate sector," Al Suwaidi stated.
The move follows similar initiatives in other emirates. Earlier this month, Dubai introduced its 'smart rental index,' which provides comprehensive data on building classifications, tenancy contracts, and rental rates in various areas. Similarly, Abu Dhabi Real Estate Centre launched its first rental index in August 2024 to enhance transparency and offer indicative rental values.
Issa Ataya, CEO of Alef Group, welcomed the initiative, emphasizing the positive impact on market transparency and trustworthiness. "As a market player, we will benefit from the index. It will improve trust and provide clarity, fostering growth in Sharjah’s real estate market," he said.
With the implementation of the rental index, Sharjah aims to set a benchmark for fair rental practices while promoting investor confidence and ensuring a balanced real estate market.
