ARADA has arranged an Islamic syndicated loan of AED1 billion (US$ 274m) as financing for its the 24 million square foot master-planned community development, Aljada. The property developer’s finance facility was arranged by Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank as joint-lead arrangers and bookrunners. ARADA was formed in early 2017 as a joint-venture between KBW Investments and ...

Improving oil prices, narrowing deficits and continued public spending are expected to support economic growth averaging 2.5 percent across the GCC next year, according to Moody’s Investors Services, while the credit agency predicts 2.7 percent real GDP growth for Sharjah in 2018. In Sharjah’s case, a wide range of achievements have helped it maintain stability in the face of regional ...

Al Badayer Shopping Mall has been opened in the town of Al Madam on the Dubai-Hatta road, the first purpose-built air-conditioned shopping mall in Sharjah’s Central Region. Less than an hour’s drive from Sharjah city and 20 minutes drive from Mleiha, Al Madam has recently become a focus for economic development and public infrastructure projects. All 27 retail units at ...

The fifth edition of the most anticipated annual music event in the emirate, the Sharjah World Music Festival (SWMF) is back to entertain the UAE from 13 to 19 January 2018 (updated). It is presented by Sharjah Investment and Development Authority (Shurooq) in a strategic partnership with Sharjah Commerce and Tourism Development Authority (SCTDA) and Al Majaz Amphitheatre. Festival organiser, ...

Sharjah FDI office ‘Invest in Sharjah’, the promotional investment arm at Sharjah Investment and Development Authority (Shurooq), has held a workshop to draw more foreign investment into the emirate through increased government coordination. Held at the Business Centre in Al Qasba, the ‘Sharjah Attraction Investment Workshop’, was attended by representatives from Shurooq, Sharjah Chamber of Commerce and Industry (SCCI), Department ...

Sharjah Investment and Development Authority (Shurooq) has unveiled the array of outstanding recreational attractions and leisure amenities introduced in the second phase of developments at Al Montazah Amusement and Water Park, which has required an investment of more than AED 100 million. Details of the new features and extensions were revealed at a press conference today at 1971 Design Space, ...

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Law No. 10 2017 approving a general budget for the Emirate of Sharjah of AED 22.1 billion (US$ 6 billion) for the fiscal year 2018. According to Sharjah Finance Department (SFD), the budget has increased 6 percent compared to the final 2017 budget ...

Sharjah Investment and Development Authority (Shurooq) is set to reveal the highly-anticipated details of its Al Montazah Amusement and Water Park projects at a press conference on 19th of December at 1971 Design Space, Flag Island, Sharjah, as the clock counts down to launching one of Sharjah’s latest and most impressive entertainment destinations. With a host of brand new features, ...

IndiGo, India’s largest budget-carrier, will introduce non-stop flights to Sharjah from Lucknow (LKO) and Hyderabad (HYD) starting 29 December 2017, due to the growing demand for Sharjah connections. The airline launched its inaugural flight to Sharjah International Airport in March, connecting Sharjah with Kozhikode (Calicut), followed by the addition of a direct flight from Thiruvananthapuram (Trivandrum) in April. IndiGo will ...