News

KBW Investments (KBW) and Sharjah’s Basma Group (Basma) have announced the formation of ARADA, a new property developer to be focused on mid-market residential properties. ARADA is the third company established by the two partners over the past year, following the formation of construction ventures Klampfer Middle East LLC and Arcadia Middle East LLC in April 2016, both headquartered in ...

Global credit rating agency Standard & Poor’s has lowered its long- and short-term foreign and local currency sovereign credit ratings on the Emirate of Sharjah from ‘A/A-1’ to ‘BBB+/A-2’ with a stable outlook. The agency attributed the change largely to an increase in government debt and slower than expected fiscal consolidation. S&P also forecasts faster economic growth in 2017, increasing ...

Masdar, Abu Dhabi’s renewable energy company, is to build a new 300,000 tonne waste-to-energy plant in partnership with Bee’ah, Sharjah’s integrated environmental and waste management company. The news follows the signing of a Memorandum of Understanding (MoU) between Masdar and Bee’ah in 2016 to collaborate in the development of new energy projects. Owned by the government of Abu Dhabi, Masdar ...

The results of Sharjah Census 2015 have been published by the Department of Statistics and Community Development in Sharjah (DSCD), revealing that more than 1.4 million people now live in the emirate of Sharjah. According to the census data, 88 percent of residents are foreign expatriates, 79 percent of residents under the age of 30, while 91 percent of the ...

His Excellency Marwan bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq), was awarded with the Golden Friends of India Award in recognition of his pivotal role in promoting economic and investment relationships between Sharjah and India. Mohammad Al Musharrkh, Director of the Sharjah FDI Office (Invest in Sharjah), received the iconic award on behalf of His ...

Sharjah Department of Public Works has announced the commencement of two waste management infrastructure projects at a cost of AED 641 million (US$175m). Sharjah’s government recently confirmed a 7 percent increase in spending on public infrastructure, accounting for some 30 percent of 2017’s record AED 22 billion (US$ 5.9b) budget. The Public Works department has given the go ahead for ...

Sharjah International Airport registered a 10 percent year-on-year increase in passengers, handling 11 million passengers from January to December 2016. The airport passed the 10 million passenger mark for the first time in 2015, showing 5.5 percent growth. Since then, the airport has continued to show strong growth. Airport passengers increased 12 percent during the first quarter of 2016, 11 ...

The emirate of Sharjah, one of the prime industrial destinations in the Middle East and North Africa has made a striking impact at India’s Vibrant Gujarat Global Summit 2017, one of the nation’s most important business forums. As home to the region’s largest industrial areas, the Sharjah FDI Office ‘Invest in Sharjah’, the promotional arm of Sharjah Investment and Development Authority ...

As part of its strategy to enhance cooperation with government departments in advancing business and entrepreneurship, Sharjah Investment and Development Authority (Shurooq) has signed a ground-breaking Memorandum of Understanding (MoU) with Dubai SME, the agency of the Department of Economic Development in Dubai mandated to develop the small and medium enterprise (SME) sector. Under the MoU the two sides will ...

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah has approved the master plan for Sharjah Healthcare City, according to the Emirates News Agency (WAM). First announced in 2010, the development is planned to be one of the largest healthcare centres in the Middle East covering an area of 2.43 million square metres (26 ...