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Tag Archives: feature

Multi-million dollar LED plant to be set-up in SAIF Zone

Rexton Technologies Middle East, an industrial arm of Sharjah-headquartered Kingston Holdings FZC, is setting up a multi-million dollar LED Manufacturing facility in Sharjah Airport Free Zone (SAIF Zone), to capitalise on the region’s growing demand for LED lights. According to recent research by Frost & Sullivan, the GCC LED market is currently growing at 16.8 percent (CAGR) per annum and ...

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ARADA confirms AED1 billion loan for Sharjah mega-project

ARADA has arranged an Islamic syndicated loan of AED1 billion (US$ 274m) as financing for its the 24 million square foot master-planned community development, Aljada. The property developer’s finance facility was arranged by Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank as joint-lead arrangers and bookrunners. ARADA was formed in early 2017 as a joint-venture between KBW Investments and ...

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Sharjah’s achievements set stage for further economic growth

Improving oil prices, narrowing deficits and continued public spending are expected to support economic growth averaging 2.5 percent across the GCC next year, according to Moody’s Investors Services, while the credit agency predicts 2.7 percent real GDP growth for Sharjah in 2018. In Sharjah’s case, a wide range of achievements have helped it maintain stability in the face of regional ...

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AED 22 billion Sharjah 2018 budget announced

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Law No. 10 2017 approving a general budget for the Emirate of Sharjah of AED 22.1 billion (US$ 6 billion) for the fiscal year 2018. According to Sharjah Finance Department (SFD), the budget has increased 6 percent compared to the final 2017 budget ...

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Indigo to launch two more Sharjah routes

IndiGo, India’s largest budget-carrier, will introduce non-stop flights to Sharjah from Lucknow (LKO) and Hyderabad (HYD) starting 29 December 2017, due to the growing demand for Sharjah connections. The airline launched its inaugural flight to Sharjah International Airport in March, connecting Sharjah with Kozhikode (Calicut), followed by the addition of a direct flight from Thiruvananthapuram (Trivandrum) in April. IndiGo will ...

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Moody’s affirms Sharjah’s A3 credt rating

Global credit rating agency Moody’s Investors Service has affirmed the long-term issuer rating for the Government of Sharjah at A3 and maintained the outlook at stable. Moody’s has affirmed the same high rating with a stable outlook for the emirate since its first rating report in 2014. Moody’s also affirmed its A3 ratings on Sharjah’s two senior unsecured sovereign Islamic ...

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Sharjah-Japan event discusses business and trade opportunities

As Sharjah continues its extensive drive to build a wider global base of economic allies and investors, government entities, expanding enterprises and private businesses from Japan and Sharjah met recently to discuss latest investment opportunities in the rapidly diversifying economic milieu of Sharjah and the UAE. For the first time an international business meeting was brought to a site of ...

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SEWA mulls BOT project for Hamriyah power plant

Sharjah Electricity and Water Authority (SEWA) is evaluating details of an independent power project (IPP) for Hamriyah power station to be developed under a Build-Operate-Transfer (BOT) contract. Sharjah’s utility authority started a bid process towards the end of 2015, for a project to expand and convert Hamriyah power plant from an open-cycle plant to a combined-cycle facility. According to Middle ...

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