The Sharjah Chamber of Commerce and Industry (SCCI) held a meeting with the National Real Estate Committee of the Federation of Saudi Chambers, during the visit of its delegation to the UAE. This comes with the aim of identifying investment opportunities for real estate projects and exchanging best practices and successful experiences in the sector of real estate. The meeting witnessed a number of recommendations that centered on coordination to organize a joint real estate event during ACRES 2022, as well as discussing prospects for cooperation and bilateral partnerships in various fields in the real estate sector. The meeting also addressed providing an opportunity for businesspersons in the two countries to meet with their counterparts to discuss opportunities to cooperate and investments. "This meeting will be the beginning of a fresh start towards more cooperation and strengthening mutual trade and investment relations, especially in the real estate sector," said HE Mohammed Ahmed Amin Al Awadi, Director-General, SCCI. The Emirate of Sharjah has recorded quantum leaps in the real estate sector, which has begun to recover from the repercussions of the pandemic, thanks to the proactive measures and steps taken by the wise leadership, he added. Sharjah's real estate sector achieved a trading volume of 12.2 billion dirhams during the first half of this year, according to the Real Estate Registration Department. The results of real estate trading for the first half of 2021 also showed an increase in trading volume by 96.1% compared to the same period in 2020, which is a result of the resumption of business and the increase in investor confidence in Sharjah's real estate market. "This meeting constitutes a new chapter in the joint economic work between business owners in the two brotherly countries, as part of the efforts made to strengthen mutual cooperation in all economic fields, said HE Muhammad bin Abdullah Al-Murshed, Chairman of the National Real Estate Committee in the Federation of Saudi Chambers of Commerce. In turn, Saeed Ghanem Al-Suwaidi stressed the importance of the visit in exchanging best experiences and practices in the real estate sector and exploring real estate challenges in the region and developing appropriate solutions accordingly, expressing the committee's full readiness to cooperate with the Saudi side and provide all facilities to investors.
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