Business

Sharjah-headquartered Air Arabia PJSC (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has reported a 14 percent increase in passenger numbers, carrying 4.1 million passengers during the first six months of 2016, compared with 3.6 million during the same period of 2015. The airline also announced a 3.5 percent increase in net profit, compared with ...

Sharjah Airport International Free Zone (SAIF Zone) has carried out an extensive series of marketing roadshows across India this year, promoting the free zone in key cities and states throughout the country. This week, the free zone presented its proposition to investors in Kolkata in West Bengal, the third-most populous metropolitan area in India. Over the past 20 years, SAIF Zone ...

US fuel injection system designer and manufacturer Stanadyne has opened an assembly plant in Sharjah Airport International Free Zone (SAIF Zone) to support export contracts. With manufacturing plants in China, India, Italy and the United States, the Sharjah facility is the company’s first in the Middle East. Stanadyne’s new plant will initially manufacture low emission diesel fuel pumps for Millat ...

Sharjah Investment and Development Authority (Shurooq) introduced Sharjah’s investment proposition to businesses in United Kingdom this month, participating in the second edition of the GCC-British Economic Forum, which took place on 21 July in London. Organised by the Arab British Chamber of Commerce and hosted in London, the forum was attended by senior officials, executives, and investors from Bahrain, Kuwait, ...

Basma Group Sharjah has awarded the AED 120 million (US$ 32.7m) construction contract for the Novotel Sharjah Expo to Klampfer Middle East LLC, a joint venture between Basma Group and KBW Investments. The new 4-star hotel will be located adjacent to the international exhibition and conference centre in Sharjah city’s central business district. The Gulf region’s meetings, incentives, conferences and ...

Sharjah-based food producer, distributor Iftin is expanding its storage and distribution facilities at Hamriyah Free Zone to support its fast growing dairy export business. The company expects construction of the new facilities, which include five new warehouses and office space, to begin in the near future. Iftin has leased 215,278 square feet (c. 20,000 sqm.) of additional free zone space ...

Radiant Group, an Indian petrochemicals firm, is to build a 60,000 metric tonne capacity oil distillation plant in Hamriyah Free Zone, at a cost of US$10 million (AED 36.5m). Radiant has leased 107,639 square foot of land in Phase Two of Hamriyah Free Zone and expects the new facility to be completed by mid-2017. Based in the Indian state of Maharashtra, ...

Sharjah Chamber of Commerce and Industry (SCCI) has announced a new Sharjah Top 10 Businesses Award as an addition to the chamber’s annual shjSEEN Awards programme, which recognises outstanding business achievement in Sharjah. The new award is an invite only award to encourage performance across the private sector. The Sharjah Top 10 Businesses Award draws on the Excellence Model of ...

SOEX Group, a global leader in recycling and marketing used textiles, is to establish a recycling plant in Sharjah’s Hamriyah Free Zone at a cost of 5 million Euros (AED 21m). Expected to open in mid-2017, the 322,917 square foot (30,00 sqm.) free zone facility is the German company’s first in the United Arab Emirates and will employ 300 to 400 ...

Sharjah will add over 3 million square feet (278,000+ sqm.) of premium shopping mall space by the year 2020, with expansion plans being implemented by shopping mall developers and operators. Developers aim to capitalise on extensive new master-planned developments in Sharjah’s suburbs alongside the development and redevelopment of Sharjah’s urban areas and the continued growth of the emirate as a ...