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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 ...

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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 ...

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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 ...

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Aster opens 120-bed Medcare Hospital Sharjah

Aster DM Healthcare has opened its largest hospital in the United Arab Emirates: a new 120-bed general hospital in Sharjah, located on King Faisal Street in the centre of Sharjah city. The healthcare group started operations at the new ‘Medcare Hospital Sharjah‘ with a soft launch last month. The new property, brings the group’s number of hospital beds in the ...

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Sharjah Holding launches third Al Zahia neighbourhood

Sharjah Holding has launched a third neighbourhood in its AED 5.5 billion ($1.5b) Al Zahia mixed-use gated community development. The new Al Lilac neighbourhood will be one of seven in Al Zahia and will consist of 120 residential units. About 2,270 homes are expected to be built in the 14 million square foot master-planned development by 2022. Developed by Majid ...

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Sharjah gears up for faster door-to-door services

Sharjah is installing more than 102,000 signboards across the emirate as part of a new Postal Code system. Officially launched by Sharjah Urban Planning Council (SUPC) in 2015, Sharjah’s new post code initiative provides emirate-wide local post codes, linked to a geographical information system (GIS), with accompanying street signage. The new system opens up new opportunities for ecommerce, door-to-door retail, logistics ...

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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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