Business

The Sharjah Investment and Development Authority (Shurooq) has signed a memorandum of understanding with REI Holding Group and Haewon Medical Foundation Sejong General Hospital to establish the first Korean hospital in Sharjah. The signing ceremony took place in the South Korean capital Seoul, where Shurooq Executive Chairman Marwan bin Jassim Al Sarkal and representatives from Shurooq and REI Holding were ...

200 senior government officials, consuls, businessmen and investors take part in economic session Al Shehhi: “Newly introduced incentives play a vital role in stimulating the business environment.” Al Sarkal: “Economic Council highlights flexible legislation Sharjah offers to investors” Al Hajri: “Our aim from the Majlis is to map out strategic opportunities to boost Sharjah’s FDI and diversified sectors” Al Musharrakh: ...

The Sharjah FDI Office (Invest in Sharjah) and senior officials from business departments in Sharjah have met with top Dutch investors and national commercial entities at the ‘Sharjah–Netherlands Business Seminar’ in Rotterdam on Wednesday (May 9), sharing latest insights about Sharjah’s rapidly transforming economic experience, which has seen a given rise to lucrative business opportunities in a diversity of non-oil ...

Sharjah’s largest infrastructure project has taken another step towards completion following the inauguration of the Middle East’s longest covered tunnel, part of a highway development expected to boost connectivity, trade and logistics between the east and west coasts of the emirate. On April 14 Sheikh Sultan bin Muhammad Al Qasimi, ruler of Sharjah and member of the UAE’s Supreme Council, set ...

Leading economic development agency in Middle East in attracting capital investment projects The Sharjah FDI Office, (Invest in Sharjah), has reinforced its status as one of the region’s key foreign investment drivers, having been recognised once again as a top ‘Investment Project Agency’ (IPA) in one of the most important and prestigious investment industry awards worldwide. The ‘Mac Conway’ awards, ...

Sharjah FDI Office (Invest in Sharjah), the investment promotion arm of the Sharjah government has unveiled that the emirate’s performance in attracting foreign direct investment (FDI) in various economic sectors has seen a sharp increase of 102 percent between 2016 and 2017, with FDI inflows worth USD 1.622 billion (AED 5.97 billion) last year as compared to USD 808 million ...

Rexton Technologies Middle East, an industrial arm of Sharjah-headquartered Kingston Holdings FZC, is setting up a multi-million dollar LED Manufacturing facility in Sharjah Airport Free Zone (SAIF Zone), to capitalise on the region’s growing demand for LED lights. According to recent research by Frost & Sullivan, the GCC LED market is currently growing at 16.8 percent (CAGR) per annum and ...

Sharjah Islamic Bank (SIB) has issued a AED 266.8 million (US$ 73m) convertible sukuk equivalent to 10 percent of the bank’s share capital According to a statement from the bank, the sukuk has been converted into ordinary shares in the name of Sharjah Social Security Fund (SSSF), an entity established by royal decree in November 2017 to manage government pensions ...

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 ...

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 ...