Economy

A multi-billion dollar development called ‘Sharjah Waterfront City’ on Sharjah’s northeast coast is expected to be announced at the region’s premier real estate event, Cityscape Global, next month. According to a report by Sharjah-based Al Khaleej newspaper, the emirate’s largest master-planned mixed-use development project to-date will cover an area of 60 million square feet along 36 kilometers of waterfront. The ...

The International Monetory Fund (IMF) has estimated the United Arab Emirates’ average economic growth at 3.6 percent for 2014, and forecasts 3.2 percent in 2015. Despite lower oil prices, sluggish global growth, and volatility regional markets, the UAE remains one of the fastest growing economies in the world with strong non-oil economy growth of 4.8 percent (2014). According to the ...

The UAE’s Council of Small and Medium-Sized Enterprises and Projects is in the final stages of formation and will soon begin implementing programmes to grow and develop the small and medium-sized enterprise (SME) sector. SMEs have been identified as critical for the economic and social development of emerging markets, playing a major role in creating jobs, developing economic growth, and ...

Sharjah Investment and Development (Shurooq) has been named the Top Investment Promotion Agency in the Middle East in Site Selection Magazine’s 2015 Best to Invest Awards, in recognition of the authority’s global initiatives to attract foreign direct investment to the Emirate of Sharjah. The award comes at a time of regional and global recognition for both Sharjah’s economy and Shurooq’s ...

Sheikha Bodour Bint Sultan Al Qasimi, chairperson of Sharjah Investment and Development Authority (Shurooq), is expected to champion youth empowerment at the upcoming World Economic Forum on the Middle East and North Africa (MENA) in Jordan this week. Sheikha Bodour will take part in the panel session “The youth imperative: what shifts are necessary to equip the region’s youth for ...

Global credit rating agency Standard & Poor’s has affirmed the Emirate of Sharjah’s A/A-1 sovereign credit ratings long- and short-term, foreign and local currency, on the basis of Sharjah’s strong nominal GDP (gross domestic product) growth. The agency expects that Sharjah’s nominal GDP growth will remain strong, against the government’s relatively high interest burden. S&P also stated that Sharjah had ...

Phase one of Sharjah’s new post code system has been officially launched by Sharjah Urban Planning Council (SUPC) in the first step to provide emirate-wide local post codes, opening up new opportunities for ecommerce, retail and logistics providers. The new local post code system, developed by the Emirates Post Group, provides a key component for the door-to-door delivery of a ...

Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), will be co-chairing the World Economic Forum on the Middle East and North Africa (MENA) next month. This is the first time an Emirati woman has been chosen to co-chair the World Economic Forum, an event that engages business, political, academic and other leaders of society ...

Sharjah’s higher degree of economic diversification compared to other Gulf Co-operation Council (GCC) members diminishes the impact of the recent oil price drop on the emirate’s economy, according to Moody’s Investors Service annual Sharjah Credit Analysis, published this week. Moody’s expects Sharjah’s economic growth to remain solid with a low government debt burden, although the report noted that debt levels are ...

Sharjah’s Department of Statistics and Community Development has announced that the emirate’s 2015 population census will commence in October 2015. The Sharjah Census will provide the necessary data for the government’s strategic planning and comprehensive human and infrastructure development, as well supporting further socio-economic studies to help guide progress and prosperity in the emirate. [Click to read about the Sharjah ...