The Sharjah Commerce and Tourism Development Authority (SCTDA), in cooperation with several public and private agencies and institutions of the Emirate, has launched a regulatory framework — the Sharjah Tourism Holiday Homes project, which aims to provide an official framework for assistance and control to Sharjah residents who want to rent out places they own. as holiday homes for tourists and guests of the city.
In accordance with the conditions and standards approved by the SCTDA and provided for by the Holiday Homes Project, residential premises can be rented out on a regular basis.
Within the framework of the project, an official system of simplification of procedures is being successfully developed in accordance with the best international practices for the operation of holiday homes, as well as for their registration within a single system and database. The project will also provide potential users with a new source of income recognized by the Government of Sharjah, offering them official guidance on operational requirements, classification criteria, violations and other mechanisms.
Khalid Jasim Al Midfa, chairman of the SCTDA, said: “With the Sharjah Tourism Holiday Homes project, the emirate's commitment to continue developing this sector has crossed an important milestone, as the initiative not only introduces new innovative services to the tourist landscape, but also puts the owners of houses in Sharjah at the forefront, benefiting from the desire to attract more visitors to the emirate from around the world”.
“As part of the Sharjah Tourism's Holiday Homes project, we strive to maximize the visitor experience by providing high-quality classification standards and offering additional accommodation options throughout the Emirate of Sharjah. This will further strengthen cooperation between the Authorities and suppliers of holiday homes by developing a system of legislation and regulations. This will contribute to the diversification of sources of growth in the hotel sector.”
It is estimated that there are currently more than 300 holiday homes in Sharjah. In the first year of the project, 150 holiday homes will be registered and licensed. About 15 management companies will be involved in this process, and the owners of country houses will be given three months to complete the documentation process. The first stage of the project includes the organization of field visits and inspection campaigns, as well as electronic or digital surveillance of holiday homes, their operators and owners.
The Office is also working to strengthen cooperation and coordination with several government agencies in Sharjah to develop regulatory procedures for holiday homes. These structures include the Department of Economic Development, Sharjah Municipality, the Department of Planning and Research in Sharjah, the General Directorate of Civil Defense in Sharjah and the Sharjah Police.
Meanwhile, the Board of Directors of Sharjah Asset Management Company, the investment arm of the Government of Sharjah, recently approved a new institutional strategic plan for the period 2023-2025, which aims to accelerate the economic and social development of the Emirate of Sharjah in partnership with various public and private sectors. The promotion of investment and social responsibility is promoted through the optimal use of resources to meet the needs of the Emirate's society and ensure its sustainable well-being.
The new strategy was outlined at a recent meeting chaired by Walid Al-Sayegh, CEO of Sharjah Asset Management, in the presence of Ibrahim Al-Houthi, CEO of Osool Services, Naila Al-Meraihi, Executive Director of the Strategy and Excellence Department. The company's top managers, managers, heads of departments and sections, company employees and branches were also present.
Al-Sayegh: Practical experience and young national personnel are the two main assets of the company.
During the meeting, His Excellency Walid Al Sayegh said: “Since the launch of Sharjah Asset Management 15 years ago, we have refined our recipe for success through thoughtful and balanced investments, while setting high standards of sustainability, governance, transparency and flexibility regarding local and international developments and variables in our operations. considerations. In addition, we have managed to create two main sources of wealth, the first of which is the result of the rich experience and knowledge accumulated by the company in recent years in numerous investments, market management, partnerships, institutional support and real estate development, which eventually became an element of the company's strength. We have been able to further develop, invest and benefit from this wealth to gain a quality experience that strengthens the vision and mission of the Emirate of Sharjah. The company strives to promote the economic and social development of the emirate, provide a decent life and employment opportunities for citizens, as well as unique infrastructure projects.”
He added: “The second wealth achieved by the company is the young national cadres that the country is proud of. The company considers them our winning bet, because over the past 5 years we have been able to invest and support talented and ambitious new graduates. We have qualified, and also provided them with many opportunities to prove their level. Sharjah Asset Management today consists of an elite group of ambitious and creative young leaders, on whom we expect to lead the company in the future.”
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