News

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, ...

Sharjah Investment and Development Authority (Shurooq) has participated in the second edition of the GCC-British Economic Forum, which took place on July 21. Organised by the Arab British Chamber of Commerce and hosted in London, the forum saw the attendance of senior Emirati and British officials, executives, decision-makers, investors and businesspersons. Held under the banner: ‘Vision, Challenges and Ambitions: Integration ...

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 ...

Sharjah-headquartered Air Arabia PJSC (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has added five new international routes since the beginning of 2016. The airline now operates flights to over 120 destinations in 33 countries across the Middle East, Asia, Africa, Asia, and Europe from its five international hubs. This month, Air Arabia began operating ...

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, ...

Mleiha Archaeological and Eco-tourism Project, one of Sharjah Investment and Development Authority (Shurooq)’s most prominent developments, is continuing its special offers for tourists and residents up until the end of Ramadan. The heritage and cultural destination’s holy month excursion packages are providing visitors with the opportunity to enjoy unique desert experiences; including evening tours, ‘dune bashing’ and dining under the ...