Business

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and President of American University of Sharjah (AUS) has announced university plans to become the top research university in the Arab world within five years. Founded in 1997, the American University of Sharjah is a not-for-profit, independent, institution of higher education located in Sharjah’s University ...

NMC Health (LON:NMC), a leading UAE-based healthcare provider, is to acquire Al Zahra Hospital Sharjah from Gulf Medical Projects (ADX:GMPC) for US$560 million (AED 2.1b). Opened in 1981, the hospital is located in the Al Ghuwair district of Sharjah and is one of the largest medical facilities in the United Arab Emirates. NMC will fund the acquisition of Al Zahra ...

Global business aviation services company Gama Aviation has announced plans for its new purpose-built, integrated business aviation complex at Sharjah International Airport, scheduled to open in mid-2018. The company disclosed architectural concepts for its Sharjah fixed-base operations (FBO) at the Middle East and North Africa Business Aviation Association (MEBAA) Show held in Dubai this week. Gama has registered a 12 percent ...

Sharjah is building a new 4 million square foot (370,000 sqm.) exhibition and conference centre in Al Tai district, near the intersection of Emirates Road and Mleiha Road. Sharjah Book Authority (SBA) revealed recently that next year’s Sharjah International Book Fair will move to the new venue in order to expand its area from 25,000 square metres (269,098 sq. ft.) ...