Housing
A 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High Rents
- Sharjah lures buyers with new law allowing foreign ownership
- Homes prices are about 40% lower in Sharjah than nearby Dubai
The Sharjah Skyline at sunset.
Photographer: Rustam Azmi/Getty ImagesWith an increasing number of expats saying they’re being pushed out of Dubai due to soaring rents, a 7,000-year-old city is looking to offer a nearby haven.
Sharjah — Dubai’s neighbor to the north — is beginning to lure investors to its shores less than two years after passing a law that allowed foreigners to buy property in select areas of the conservative emirate. Already, developers are in the process of constructing tens of thousands of homes.