Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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Sharjah has solidified its reputation as a premier destination for the jewellery industry, attracting 17 gold stores in the past five months. The latest addition to this growing list is Dusoul by Dhamani, a renowned jewellery brand founded in India in 1969 and expanded into the UAE in 2000. In a strategic move, the brand has invested AED 20 million in its first store in the emirate.
Showing a strong dedication to supporting investors and providing them with aftercare services, Sharjah FDI Office (Invest in Sharjah) headed by the CEO, HE Mohamed Juma Al Musharrkh, Director of Investment Promotion and Support, Marwan Alichla and Head of Marketing and Public Relations, Latifa Al Ali, visited Dhamani Group and were welcomed by Amit Dhamani, CEO of Dhamani Group, Rohit Dhamani – CEO of Dusoul by Dhamani and Preeti Dhamani, Director of Dhamani
Invest in Sharjah’s commitment to bolster the emirate’s status as destination for investment and commerce, by creating a conducive environment for businesses to thrive and contribute to the emirate’s flourishing economy, especially in sectors exhibiting rapid growth in the region. According to Fortune Business Insights, the jewellery market in the MENA region is valued at US 33.14 billion in 2023 and projected to grow to US 53.72 billion by 2030, at a CAGR of 7.15%. The UAE in particular is at the forefront of this growth, and through strategic support from the Invest in Sharjah, the emirate is proving to be an ideal location for jewellery businesses.
HE Mohamed Juma Al Musharrkh, the CEO of Invest in Sharjah, said, “We are committed to diversifying the emirate’s economy by attracting investment to high-growth sectors, and it is evident that jewellery and the luxury goods markets are showing great strength in recent years. By leveraging Sharjah’s reputation as an environment where businesses can thrive, our tailored support and integrated services aim to facilitate investment in key sectors, positioning Sharjah as a prime destination for companies looking to expand their operations in the region. We will continue to promote ease of doing business and cement Sharjah’s reputation as a world-class hub for innovation and sustainable growth.”
Rohit Dhamani, CEO of Dusoul by Dhamani commented “We are excited about our expansion into the vibrant emirate of Sharjah, and this move reflects the brand’s commitment to serving the growing market of young, style-conscious millennials in the region. We are grateful for the support and guidance we received from Invest in Sharjah throughout this process, which has been instrumental in making our expansion to Sharjah a reality.”
Sharjah’s strategic location, business-friendly environment, and favourable trade agreements have positioned it as an emerging contender in the regional and global market. The UAE’s reputation as a trading hub for diamonds and precious metals, coupled with initiatives in Sharjah to promote ease of doing business and attract foreign investment, has greatly contributed to the growth and success of the jewellery and luxury goods sectors.
