News

The Sharjah FDI Office (Invest in Sharjah) has announced substantial progress in strengthening the emirate’s status as a leading industrial centre in the region. In 2023, Sharjah’s manufacturing sector attracted USD 18.9 million in foreign direct investment (FDI), which reflects the ongoing growth supported by economic diversification policies and the strategic allocation of local and foreign capital, enhancing the resilience ...

Sharjah SME Ruwad, affiliated with the Sharjah Department of Economic Development (SEDD), announced that 109 new projects have joined its membership during the first quarter of 2024, while it approved financing two pilot projects with a total value of AED550,000. The results of the quarterly report issued by the Ruwad showed that 125 projects were implemented during the first three ...

His Excellency Hamad Ali Abdalla Al Mahmoud, Chairman of Sharjah Economic Development Department “SEDD” received a delegation from Sharjah Investment and Development Authority “SHUROOQ” headed by His Excellency Ahmed Obaid Yousef Al Qaseer, CEO of SHUROOQ, Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, and Saif Al Suwaidi, the Acting Manager of Sharjah Investor Services Center “SAEED”. This meeting ...

His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, a member of the Supreme Council and the Ruler of Sharjah, has given the green light to the “Aquaculture Farm” project in Khorfakkan. The approval has been granted for the “Aquaculture Farm” project, the first of its kind in the United Arab Emirates. This pioneering endeavor, developed in partnership with the ...

Sharjah’s Department of Statistics and Community Development (DSCD) has announced substantial growth in the emirate’s gross domestic product (GDP) for 2023. The preliminary estimates show a 6.5% surge, reaching approximately AED 145.2 billion, compared to 136.4 billion in 2022, which marked a 4.9% growth from 2021. The newly-revealed figures are based on estimates from the comprehensive economic survey conducted from ...

Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority (Shurooq) has led the annual meeting of Eagle Hills Sharjah Development LLC board. This joint venture, between Shurooq and Abu Dhabi-based real estate developer Eagle Hills, remains committed to propelling Sharjah’s development forward with dynamic and diversified growth initiatives. The hour-long meeting held at the Sharjah ...

S&P Global Ratings has affirmed its ‘BBB-/A-3’ long- and short-term foreign and local currency sovereign credit ratings on the Emirate of Sharjah, a member of the United Arab Emirates (UAE). The outlook is stable. The stable outlook reflects S&P’s view that Sharjah’s government will introduce sufficient measures to begin stabilizing its net general government debt as a percentage of GDP ...

Air Arabia today reported a strong first quarter 2024 financial and operational results, as the airline continued to expand its network and further strengthening its leadership position in the market. Air Arabia reported a net profit of AED266 million for the first three months ending March 31, 2024; 22 percent lower than the AED 342 million registered in the corresponding ...

In response to increasing demand from entrepreneurs and investors from the region and around the world, the Sharjah Publishing City Free Zone (SPC Free Zone) has announced expansion of operations to deliver round-the-clock support to its customers. The free zone also guarantees a 3 business days turnaround for clients seeking to open bank accounts in the UAE. The new initiative ...

The Sharjah Commerce and Tourism Development Authority (SCTDA) revealed a robust 11% increase in hotel guests numbers in 2023, with the emirate welcoming over 1.5 million guests. The sector’s sustainable growth was further underscored by a significant surge in guests from diverse regions: Russian and the Baltics led with a 36% increase, followed by the GCC countries at 17%, and ...