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 ...

Standard & Poor’s has affirmed the Emirate of Sharjah’s A/A-1 sovereign credit ratings long- and short-term, foreign and local currency, with a stable outlook according to the global rating agency’s mid-year MENA sovereign rating trends report. The report also forecasts the rate of Sharjah’s economic growth to continue to increase through to 2019. S&P began assigning sovereign credit ratings for ...

Under the directives of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, Sharjah Investment and Development Authority (Shurooq) has embarked on a major project to develop Heart of Sharjah as part of its efforts to protect the emirate’s valuable cultural heritage. Scheduled for completion in 2025, the 15-year restoration project is the first ...