News

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 ...

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 ...

As part of its participation at the world’s leading travel trade show, Sharjah Investment and Development Authority (Shurooq) is reinforcing the emirate’s status as one of the Middle East’s leading tourism destinations by promoting four of its most impressive hospitality venues. Under the umbrella of Sharjah Tourism and Commerce Development Authority, Shurooq is attracting interest from trade visitors across five ...

Al Majaz Waterfront has announced that eight new restaurants and cafés will be opened later in the year in conjunction with the completion of the extension’s second phase and an increase in the number of parking lots to manage the increased capacity. The new extension includes the opening of new Arabic and international outlets, some of which will open in ...

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 ...

The enhancement of Sharjah’s business links with Macedonia was the subject under discussion at a recent roundtable meeting hosted by Sharjah Investment and Development Authority (Shurooq). The event was one in a series of meetings being undertaken by the department throughout the year to explore initiatives that will lead to mutual benefits for countries that ally themselves to Sharjah’s economic ...

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 ...

Sharjah’s business links with the world’s second largest country was the topic on the table when Sharjah Investment and Development Authority (Shurooq) hosted a trade meeting with a delegation from Canada. The roundtable event saw the two parties assess an array of initiatives that have the potential to lead to significant mutual benefits for Canada and the UAE. Aimed at ...

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 ...

Sharjah hotel occupancy grew by 5.5 percent during January compared to the same month in 2016, according to the latest report from STR, a firm that provides global data and analysis for the hotel industry. Average occupancy levels across the United Arab Emirates increased by 0.5 percent during January to reach 81 percent, although average room rates at hotels across ...