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Ahalia Medical Group to open hospital in Sharjah Healthcare City

UAE-based Ahalia Medical Group has signed an agreement with Sharjah Healthcare City (SHCC) to open a 100-bed general hospital. The new development is expected to be the first hospital to be established in the free zone. According to the SHCC administration, a number of enquiries have also been registered from overseas hospitals and medical groups interested in establishing operations in Healthcare ...

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ARADA unveils its first master-planned residential community

ARADA, a new mid-market property developer recently announced by KBW Investments and Basma Group, has launched Nasma Residences, a new master-planned residential community in Sharjah focused on ‘aspirational yet accessible living in an urban setting’. Located at the heart of one of Sharjah’s most dynamic residential and mixed-use residential areas, the company expects to complete the 5 million square foot development ...

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New white oils plant opens in Hamriyah Free Zone

Petroleum Specialties Pte. Ltd., the Singapore-based specialised oil trading subsidiary of diversified conglomerate Apar Industries Limited, has opened a new manufacturing operation in Sharjah’s Hamriyah Free Zone. The group’s first fully-owned factory outside of India, the new US$18 million (AED 66m) Petroleum Specialities (FZE) unit will manufacture industrial white oils. The term ‘Industrial white oils’ typically refers to pure petroleum ...

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Bank of Sharjah confirms $500m EMTN issue

Bank of Sharjah P.J.S.C. (BOS:ADX), Sharjah’s second biggest bank by net assets, has announced the completion of a senior five-year unsecured fixed-rate notes issue totaling US$ 500 million (AED 1.84b), under the bank’s new Euro Medium Term Note (EMTN) programme. Pricing was set at 250 basis points over mid-swaps (a benchmark for calculating bids) to yield at 4.23 percent. Bank ...

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Sharjah launches international food industries hub

Hamriyah Free Zone Authority has launched ‘Sharjah Food Park’, a regional hub for the Middle East and North Africa’s multi-billion dollar food industry, dedicated to food import, export, storage, manufacture and packaging. The new world class zone will be the region’s largest dedicated facility for food industries, covering a total area of 11 million square metres (118 million square feet), and ...

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Bank of Sharjah plans five-year bond issue

Bank of Sharjah P.J.S.C. (BOS:ADX), Sharjah’s second biggest bank by net assets, has set initial guidance for a new five-year international bond, according to lead arrangers this week, confirming an expected price of 250 basis points over mid-swaps (a benchmark for calculating bids). Bank of Sharjah is believed to be planning to issue a US$ 500 million (AED 1.84b) 5-year ...

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Carillion wins Bee’ah Sharjah HQ construction contract

The £4 billion turnover British contractor Carillion Plc has confirmed that it was awarded the contract to build the new, state-of-the-art, eco-friendly headquarters for Bee’ah, Sharjah’s award-winning integrated environmental and waste management company, sometime last year. Carillion collaborated with UK-based Zaha Hadid Architects to win the contract and will manage the project via its UAE venture Al Futtaim Carillion. The ...

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New residential property developer formed

KBW Investments (KBW) and Sharjah’s Basma Group (Basma) have announced the formation of ARADA, a new property developer to be focused on mid-market residential properties. ARADA is the third company established by the two partners over the past year, following the formation of construction ventures Klampfer Middle East LLC and Arcadia Middle East LLC in April 2016, both headquartered in ...

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Masdar and Bee’ah to build new 300,000 tonne waste-to-energy plant in Sharjah

Masdar, Abu Dhabi’s renewable energy company, is to build a new 300,000 tonne waste-to-energy plant in partnership with Bee’ah, Sharjah’s integrated environmental and waste management company. The news follows the signing of a Memorandum of Understanding (MoU) between Masdar and Bee’ah in 2016 to collaborate in the development of new energy projects. Owned by the government of Abu Dhabi, Masdar ...

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Shurooq ends busy 2016 FDI promotion campaign

As 2016 draws to a close, Sharjah Investment and Development Authority (Shurooq) looks back on a busy year of promoting business and investment opportunities in the emirate. The authority’s 2016 campaign has included participation in global business and investment events, marketing roadshows, organising a major investor event in London and hosting the Sharjah FDI Forum. Activities have included visits to ...

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