The Government of Sharjah is preparing a law that will allow sale of freehold property to foreigners for the first time – as long as they get approval from the Ruler of Sharjah.

Emirates Business had reported that a law has been drafted by the Sharjah Executive Council and forwarded to the Sharjah Consultative Council for discussion. This included an article that allows registration of properties bought by UAE and GCC nationals.

A source at Sharjah Consultative Council, said: "However, the same article also states that the registration of properties for foreigners [including non-Arabs], is subject to the Ruler's approval and order."

The source, who is also involved with the Council's Legal and Legislative Committee, said further details about freehold for expatriates are expected once the draft is approved and issued by the Executive Council and the Ruler. "I expect details to come in the law's executive regulations once issued," he said.

A freehold law for expatriates is a necessity especially since the emirate is developing mega projects such as the Al Nujoom Islands and Sharjah Marina, said the source.

The draft also tackles issues related to streamlining fee payments to prevent any sort of circumventing of the same, he added.