Home / Business

Business

Gama Aviation signs agreements to build and operate a US$30 million business aviation terminal

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 ...

Read More »

Sharjah Islamic Bank profit up 6% during first half of 2017

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 ...

Read More »

Sharjah house rental rates rise 12% during first half of 2017

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 ...

Read More »

Air Arabia adds third new route of 2017

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 ...

Read More »

Pirelli distributor invests in Sharjah logistics hub

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 ...

Read More »

Al Thuriah completes handover of Sahara Tower 4

Sharjah-based Al Thuriah Properties has announced the final handover of its AED 295 million (US$ 81m), 33-storey Sahara Tower 4 to home owners. The 3.1 million square foot (288,000 sqm.) mixed-use Sahara Complex on Sharjah’s Al Nahda Street, near to the border with Dubai, will ultimately have six residential towers. Construction of Sahara Towers 1 to 5 is already completed ...

Read More »

Masdar and Bee’ah form waste-to-energy joint venture to build Sharjah plant

Bee’ah, the UAE’s leading environmental management company, and Masdar, Abu Dhabi’s renewable energy company, have formed Emirates Waste to Energy Company (EWEC), a joint venture that will develop waste-to-energy plants across the Middle East. The two companies signed a Memorandum of Understanding (MoU) in January to jointly develop the Middle East’s first waste-to-energy plant in Sharjah. First announced in 2014, ...

Read More »

Expo Centre sees 7% increase in visitor numbers in Q1

Expo Center Sharjah has recorded a 7 percent increase in the number of visitors to exhibitions and events taking place at the Centre during the first quarter of 2017, compared with the same period in 2016. According to the Expo Centre management, 302,474 people visited events during January, February and March, including 12 specialised exhibitions. The meetings, incentives, conferences and ...

Read More »

Uptake of Nasma Residences Phase 1 confirms mid-market demand

Nasma Residences Phase 1 has sold out less than a month after launch, confirming investor-demand for mid-market residential properties in Sharjah. Advertised by the developer, ARADA, as offering ‘aspirational yet accessible living in an urban setting’, the new master-planned residential community was announced in mid-March with residential units starting at AED 995,000 (US$ 271,000). Nasma Residences is scheduled for completion ...

Read More »

Sharjah Business Summit to shine spotlight on innovation in logistics

Sharjah Business Summit 2017, organised by Gulftainer, the world’s largest privately owned independent port operator, will put the spotlight on innovation in the transport and logistics sector and Sharjah’s state-of-the-art infrastructure. Co-hosted by its logistics subsidiary, Momentum Logistics, the event is supported by Sharjah Investment and Development Authority (Shurooq), Sharjah Chamber of Commerce and Industry (SCCI), Sharjah Municipality, Sharjah Ports ...

Read More »