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New Sharjah industrial estate announced

Sharjah Asset Management, the investment arm of the Government of Sharjah, has announced the launch of a new 14 million square foot industrial estate near Sharjah International Airport. Al Saja’a Industrial Oasis is expected to be one of the largest industrial projects in the region, initially offering 353 plots to investors on freehold or leasehold basis.

Sharjah has developed a diverse production base with no single sector accounting for more than 20 percent of its gross domestic product (GDP). Real estate and business services account for about 20 percent; manufacturing 16 percent; mining, quarrying, and energy 13% percent; and wholesale and retail trade 12 percent. Earlier this year, S&P estimated Sharjah’s real economic growth at about 3.5 percent for 2015.

Sharjah began zoning areas for industry more than forty years ago and now has 18 designated industrial areas. It has also created free trade zones, with Hamriyah Free Zone Authority and Sharjah Airport International Free Zone (SAIF-ZONE) today hosting some 13,500 companies from 157 countries across multiple industrial sectors.

The launch of Al Saja’a Industrial Oasis aims to address the growing needs of industrial investors and owners in the Emirate. The first phase of sales for new industrial and mixed-use plots in Al Saja’a began on Thursday 29 October with the sales of 55 plots to pre-registered investors. The size of plots in the industrial estate varies from 13,454 square feet to 53,819 square feet. Additional plots at Al Saja’a are expected to be put on sale in the near future.

Sharjah Asset Management is responsible for the asset management and investment activities for the Government of Sharjah. It manages investments across multiple sectors world-wide, including financial and commercial investments, logistics, technology, real estate, transportation, industrial and oil and gas. Local investments include stakes in Air Arabia, Bank of Sharjah, Dana Gas, Sharjah Cement and Sharjah Islamic Bank.

Source: SAM, Gulf News, various

Updated 29 October 2015

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