Business

ARADA, a property developer formed earlier this year by KBW Investments and Basma Group, has announced plans for a AED 24 billion ($6.5 b) master-planned community called ‘Aljada’ that will cover an estimated 2.2 square kilometres and accommodate up to 70,000 residents. According to ARADA, the new community will be located next to Sharjah University City and is expected to ...

Alef Group, a Sharjah-based real estate developer, has launched a new AED 3 billion (US$ 820m) pedestrian-friendly residential development in the city’s Al Juraina area. Announced as Sharjah’s first fully-walkable community and covering an estimated area of 3 million square feet (279,000 sqm.), ‘Al Mamsha’ will offer a variety of modern apartments, from studios through to penthouses with private terraces. ...

Sharjah Book Authority (SBA) has announced the dates of the 36th edition of Sharjah International Book Fair (SIBF) as 1-11 November 2017. The region’s premium platform for publishers of education, science, literature, art and culture titles takes place annually at Expo Centre Sharjah. In addition to the main exhibition, the event brings together hundreds of authors and publishers from around ...

Sharjah has taken its flagship Sheraa Accelerator programme to the international stage by inviting entrepreneurs from within the UAE, and across the globe, to apply for its second cycle. The invitation goes out to innovative, early-stage ventures that wish to use Sharjah as a launchpad to grow and scale their impact. The second Sheraa Accelerator cycle follows a successful inaugural ...

Last month Sharjah Electricity and Water Authority (SEWA) awarded its first Build-Operate-Transfer (BOT) contract for the development of a seawater reverse osmosis (SWRO) desalination plant in Sharjah’s east coast region of Kalba. The deal follows much research and debate regarding the future role of public-private partnerships (PPPs) in the emirate and SEWA hopes that the project will pave the way ...

Gama Support Services, a division of global business aviation services company Gama Aviation, has signed commercial agreements with Sharjah Airport Authority for the development and operation of a new private aviation terminal at Sharjah International Airport. Gama Support Services will build and operate a new AED 110 million (US$ 30m) purpose-built, integrated business aviation complex and provide ground handling services ...

Sharjah Islamic Bank (SIB) this week announced a net profit of AED 272.9 million (US$ 74.8m) for the first half of 2017, reporting a 6.2 percent increase on the AED 257.0 million (US$ 70.4m) net profit posted for the same period in 2016. SIB also reported a 10 percent increase in total assets, showing AED 36.9 billion (US$ 10.1b) in ...

Demand for houses in Sharjah has outperformed expectations with villa rental prices increasing by 11.7 percent during the first six months of 2017, according to global property consultancy Cluttons. The company’s Sharjah Property Market Snapshot for Summer 2017 report shows that average villa rents in Sharjah now stand at about AED 112,000 (c. US$ 30,500) per annum and can be ...

Sharjah-headquartered Air Arabia PJSC (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has added its third permanent new international route from Sharjah this year with the addition of direct flights to Hargeisa, the capital of Somaliland. The airline now operates flights to over 130 destinations across the Middle East, Asia, Africa, Asia, and Europe from ...

Al-Hawai Tyre Co. , the sole distributor of Pirelli for the northern emirates, is to create a logistics hub at Al Saja’a Industrial Oasis, an industrial park 30 minutes outside Sharjah city centre. Established more than 30 years ago, Al-Hawai will build a distribution centre for Sharjah and Northern Emirates, a maintenance workshop and a new retail outlet. There are ...