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Sharjah-held Shurooq’s UAE project portfolio totals $2bn

Sharjah Investment and Development Authority’s (Shurooq) project portfolio in the UAE spans 11.74km2, it has been revealed. In the last nine years, Shurooq’s real estate investments have amounted to $2.1bn (AED7.6bn), which includes completed and ongoing projects. Shurooq’s portfolio includes large-scale projects such as Al Qasba, Al Majaz Waterfront, and Al Montazah Amusement and Waterpark, as well as the Al ...

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Innovation Multiplied With Sheraa and Ajman University Collaboration

Broadening its reach and delivering valuable guidance to those with young ideas in the region, Ajman University (AU) has signed a Memorandum of Understanding (MoU) with Sheraa (Sharjah Entrepreneurship Center). The purpose of the MoU is to support activities that help bridge research and education with industry. Through the Ajman University Innovation Centre (AUIC) this collaboration will also help students, ...

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Gulftainer achieves record productivity at Sharjah Container Terminal

Gulftainer, the UAE-based privately owned, independent port operator, today announced that it had recorded gross crane productivity of 32.2 crane moves per hour at its flagship gateway terminal, Sharjah Container Terminal (SCT), in Port Khalid. The milestone feat achieved in April 2018, compares to the industry average of 25 crane moves per hour, and marks the highest productivity levels at ...

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Hamriya Free Zone, India’s Gandhar Oil Refinery, sign investment agreement

Saud Salem Al Mazrouei, Director of the Hamriya Free Zone Authority and the Sharjah International Airport Free Zone Authority, signed an investment agreement with Ramesh Parekh, Chairman of Gandhar Oil Refinery India, to establish an integrated project to produce white oil, liquid paraffin, hydraulic liquid, transformer oil, rubber processing oil, motor oil and industrial oil. The agreement was signed to ...

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SPWD accomplishes AED2.5 million Mafraq Park in Kalba

The new park is an addition to the series of park projects being implemented by SPWD in the various areas of the emirate. Engineer Ali bin Shaheen Al Suwaidi, Chairman of  Sharjah Public Works Department, said that the project is part of a series of development projects that came within the directives of His Highness Sheikh Dr. Sultan bin Mohamed ...

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Shurooq and Emaar Hospitality Group announce Vida Al Qasba Sharjah

The Sharjah Investment and Development Authority (Shurooq) signed a management agreement with Emaar Hospitality Group to operate a lifestyle boutique hotel in the heart of Al Qasba, one of the most popular lifestyle and leisure destinations in the emirate. Vida Al Qasba Sharjah, to be operated under Emaar Hospitality Group’s Vida Hotels and Resorts, an upscale lifestyle hotel and serviced ...

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Moody’s rating to boost investments into Sharjah

The recent Moody’s rating for Sharjah will impact positively on the emirate’s business environment as well help in attracting investments, according to the chairman of Sharjah Economic Development Department (SEDD). Sharjah’s rating of A3 by Moody’s Investors Service is based on the increased government revenue, stability of the budget indicators and high gross domestic product (GDP) per capita, Sultan Abdullah ...

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100% foreign ownership: New UAE investment law to spur FDI, GDP growth

UAE’s game-changing investment law, which will allow up to 100 per cent ownership to foreign investors in some specific onshore business sectors, is expected to prop up private and foreign direct investments when it will be finally introduced in the last quarter of this year, economists and analysts said. The law, eagerly awaited by the business community, was widely expected ...

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First Korean healthcare facility to open in Sharjah

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 ...

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