Business

Sharjah-based property company, JMS Property Development and Management, has announced the launch of a mixed use, multi-purpose property development in Sharjah’s popular Al Nadha district. The AED 700 million (US$191 m) development, called Al Rayyan, will include residential, commercial and retail units covering a total of 251,000 square metres (2,700,000 sq. ft.). Designed by architectural firm B&H, Al Rayyan will ...

Sharjah-headquartered Air Arabia (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has announced a net profit of AED 566 million (US$ 154m) for 2014, up 30 percent on its net profit for 2013. The airline’s turnover for 2014 increased by 17 percent to AED 3.7 billion (US$ 1b), driven by growth in passenger numbers. Air ...

The UAE’s first full-service freehold residential plots have been announced in Sharjah by Shoumous Properties, a joint venture between Albatha Real Estate and Moafaq Al Gaddah (MAG) Group. Unlike the many other freehold residential developments in the United Arab Emirates, the Shoumous Residential Complex will allow investors to build and sell their own homes according to Sharjah’s real estate regulations. ...

The United Arab Emirates registered strong growth in private sector production, purchasing and employment during January, according to HSBC‘s monthly Purchasing Managers Index (PMI), compiled by Markit, a global financial information and services company. Experts predict a slowing in some economic activity during this year as a result of lower oil prices, however January’s index showed a three-month high. The ...

The University of Sharjah (UOS) plans to build a new AED 200 million (US$54m) residential tower in Al Mamzar in the centre of Sharjah city. The university currently manages more than 60 buildings on its main campus in Sharjah’s University City near the international airport, in the city and on Sharjah’s east coast. The new residential tower adds to a ...

Air Arabia (AIRARABI:DFM) will become the first low-cost airline from the Middle East and Africa to connect the region with China next month. Starting on February 10, 2015, the Sharjah-headquartered carrier will fly regular non-stop services to Urumqi, the largest city in Western China. Located in the Xinjiang district of China, Urumqi is a modern industrial city of 3.3 million ...

Sharjah’s award-winning integrated environmental and waste management company, Bee’ah, announced its new, state-of-the-art, eco-friendly headquarters during the first day of the World Future Energy Summit 2015 (WFES) in Abu Dhabi this week. The new Bee’ah headquarters building, which takes its inspiration from desert sand dunes, has been designed by Prtizker prize-winning architect Zaha Hadid and reflects the organisation’s passion for ...

Rafi Agri Foods International FZC, a leading agri-commodity trading firm based in the Sharjah Airport International Free Zone (SAIF Zone) has announced its acquisition of a 20 percent stake in Delta Food Industries (FZC), one of the UAE’s fastest growing food exporters. A company statement estimated Delta Foods’ exports at over 250 TEUs (twenty-foot-equivalent units) per month, nearly 70 percent ...

The 2015 World Forum for Foreign Direct Investment will focus on the impact of geopolitics on foreign direct investment (FDI). The forum, hosted by the Sharjah Investment and Development Authority (Shurooq) and organised by Conway Events, will be held from 9 – 10 February in Sharjah, United Arab Emirates: the first time that the event has taken place in the ...

Sharjah’s Chamber of Commerce and Industry is to launch a new Sharjah Exports Development Centre next week. The centre will help promote and develop exports from Sharjah industries to regional and global markets. The Exports Development Centre is one of a wide range of initiatives undertaken by Sharjah government departments and authorities to help capitalise on the emirate’s strong economic ...