Sharjah, 31st October, 2015 (WAM) - Under the patronage of Sheikh Mohammed Bin Saud Al Qasimi, Chairman of Sharjah Asset Management, and in the presence of the elite audience of Sheikhs and investors from the United Arab Emirates, and in line with the visionary long-term plan of the Government of Sharjah to launch several growth projects aiming at developing the industrial, real estate and commercial sectors to address the growing needs of investors and owners in the Emirate, Sharjah Asset Management, the Investment Arm of the Government of Sharjah, launched Al Saja’a Industrial Oasis, one of the largest industrial projects in the region.
Opening sales for the first stages of the project, the launch of Al Saja’a Industrial Oasis came in response to serve the growing industrial investment demand, and is located in one of the largest industrial areas owned by the Emirate of Sharjah in the region, where the project comprises 353 units of real estate and industrial mixed-use, built on nearly 14 million square feet of land and is strategically located on Emirates Road (E611) in close proximity to Sharjah International Airport and Al Hamriya Port.
Rejoicing the full support of the Government of Sharjah, Al Saja’a Industrial Oasis aims at encouraging the relocation of industrial tenancies from the city’s industrial areas to master planned industrial park communities, to relieve congestion in the city’s residential and inner suburbs and to the create urban planning opportunities, an easy access through Emirates Road (E611), and with SEWA commitment for delivery of electrical load and network on project completion.
Furthermore, the project comprises various plots with diverse types of land usage, varying from 220 light industries plots, 45 medium industries plots, 84 commercial and mixed-use plots, 30 retail units, 3 retail units, in addition to one unit dedicated for staff accommodation.
The region's economy has always been characterized by its diversity, and governments repeatedly and continuously launched reforms and intervened to open the local markets, eliminate barriers to international trade and invest in multiple investment projects, all while tapping into new growth areas. This economic diversity has been clearly sought after and communicated through the Government of Sharjah, as its became an actionable plan, not just an aspiration, creating a strong and diversified economy further boosting the competitiveness and prosperity of the Emirate.
Characterized with a strategic geographical location, the Emirate of Sharjah has become an ideal hub for a substantial industrial projects, and a landmark for the development and prosperity of various industries, as the year 1932 saw the opening of first international airport in the UAE – Sharjah Airport, that is now the third largest Middle East airfreight hub in terms of cargo tonnage, handling 586,195 tonnes in 2015 – a 16.1% increase year on year. Sharjah also saw the first industrial projects in the United Arab Emirates, having the best standards to attract major industrial developments, with a dedicated industrial area and one of the largest industrial clusters in the country.
The Government of Sharjah is renowned for the importance of its private sector, delivering essential infrastructure and high quality services facilities to attract foreign investment in various sectors such as industry, trade and services. Currently, Sharjah has trade relations with 126 countries and it is also playing a key role in the global investment scenario.
Below are some indications on the economic environment in the UAE in general, and in Sharjah in particular: UAE Economic Indicators - AED 100 Billion+ GDP - 3.2 % UAE GDP expansion - 1.89% growth in UAE’s total workforce over the last 12 months - Continuous demand within the industrial sector Emirate of Sharjah Investment Indicators - Attractive to GCC and Arab Nationals - Sharjah accommodates the region’s largest SME Sector – 45,000 companies - Greater reliance upon diversity of real estate and industries - Sharjah is a leading Islamic cultural and business friendly haven - Sharjah offers a regionally competitive price advantage Why invest in Sharjah - S & P rating A/A+1 - Exceeded GDP of 100 billion dirhams in 2015 - 45% of the allocated budget to Sharjah is dedicated to economic development - The emirate enjoys an economic diversification with 20% of the industries’ value - Named as the City of the Future by FDI Magazine This region is often considered as a source of pure capital, where in fact, it offers tremendous investment opportunities. Hence, the Emirate of Sharjah and the Middle East region should be transformed into the focal point of inward investments.
Sharjah Asset Management embodies this vision in its essence. The large-scale investment company promotes diversity and inward investments flow, and constitutes an undisputed illustration of diversity, as its investments are highly focused in multiple sectors, including financial and commercial investments, logistics, technology, real estate, transportation, industrial, as well as oil & gas.
The launch of Al Saja’a Industrial Oasis marks a milestone towards achieving one of the orientations of the Government of Sharjah, as the project will be an oasis of investments in the emirate and the region, deriving from the broader vision of the Emirate.
WAM/tfaham