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Sharjah leads region in having world’s millionaires

Bloomberg: With its achievements in all fields and its unremitting efforts to secure well-being, the Emirate of Sharjah was crowned with the title of the city loved by the world’s rich, after leading the region’s countries in having millionaires from all over the world.

This comes from statistics, collected by the “New World Wealth”, along with “Henley & Partners Group”, which specialises in residency and citizenship programmes, showing that the Emirate of Sharjah in the UAE, with the capital of the Kingdom of Saudi Arabia, Riyadh, has the fastest growing millionaire population so far this year.

Henley & Partners Group, the world leader in residency and citizenship by investment, recently released a list of the world’s cities where most millionaires live.

Statistics, collected by the South African company “New World Wealth”, show that the Emirate of Sharjah, in the United Arab Emirates, with the capital of Saudi Arabia, Riyadh, has the fastest growing millionaires this year so far in the world.

Abu Dhabi and Dubai are also among the fastest growing cities in the number of millionaires, as the UAE attracts the wealthy with a low tax regime and new residency plans.

Half of the top ten cities with the largest number of millionaires are in the United States, but New York City lost 12% of net worth in the first half of 2022, while the San Francisco Bay Area saw an increase by 4%, and London, which ranks fourth, down by 9%.

Beijing and Shanghai, which rank ninth and tenth in the list of the richest cities, respectively, recorded losses, as Henley & Partners expects that China will witness the second largest outflow of wealth after Russia this year.

 

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CategoriesPress Release

Over 33,000 issued and renewed licences in Sharjah in H1 2022

Sharjah Economic Development Department (SEDD) reviewed the most important developments and events witnessed by the economic sectors and the measures as well as efforts taken by the Department in all sectors and activities, during the first half of the current year 2022.

This was done to provide a comprehensive tool for dealers in the economic sectors in Sharjah and to familiarise them with the most important results achieved, in confirmation of its efforts aimed at achieving balanced and sustainable economic performance and promoting business continuity in various fields.

Commenting on that, Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, said that the data issued by the department indicate a significant increase in the investment movement, especially in the issued licences, which are indicators for sustainable growth for the economy of Sharjah. He pointed out that the issuance of these data is one of the important economic indicators that the department relies on to study the economic situation in the emirate.

In addition, Al Suwaidi stressed that SEDD’s strategic objective is to achieve a comprehensive development plan that promotes economic development in Sharjah, by developing services to match the highest international quality standards in terms of speed of delivery and access to dealers in the economic sector and investors in the emirate and striving to complete transactions with ease.

According to SEDD data, the total number of license’s issued and renewed in Sharjah during the first half of this year increased by 33,157, with a growth rate of eight percent over the same period in 2021. Thus, the license’s issued during the first half of 2022 amounted to 3,858, compared to 3,526 in the first half of last year, with a growth rate of nine percent. On the other hand, the total number of renewed licences during the same period reached 29,299, compared to 27,262 throughout the same period in 2021, a seven percent growth rate.

Fahad Ahmed Al Khamiri, Director of Registration and Licencing Department at SEDD, stated that the data showed that the commercial licences topped others in terms of distribution according to the type of licences issued. Therefore, 2,248 licences were issued during the first half of 2022, followed by 1,273 professional licences, and 161 industrial licences. In fourth place, were 99 “Eitimad” licences, and 77 e-commerce licences in fifth in place.

Regarding renewed licences, commercial licences topped the list, reaching 18,992 during the first half of 2022, followed by 8,718 professional licences. Then there were 1,233 industrial licences, while Eitimad licences touched 306, whereas e-commerce licences amounted to 50.

Al Khamiri added that the results of the emirate’s business, including the issuance and renewal of licences, are in line with the general growth in the GDP in Sharjah. Also, he noted that SEDD is working to simplify services and procedures, with the aim of facilitating business registration procedures, issuing licences, and providing greater flexibility for investors and dealers, in the form which allows them to establish their business within a brief period.

Al Khamiri stressed that the growth of licences during the first half of 2022 confirms the strength of the local economy and the attractiveness of the investment environment in the emirate, as the department’s initiatives during the last period contributed to promoting business growth and attracting more investments. He also illustrated that SEDD’s figures reflect the confidence of the business sectors in the investment opportunities available in Sharjah’s economy.

On the other hand, Khalfan Al Herathi, Director of SEDD Branches, said that the department, in all its branches, completed 33,157 issued and renewed licences during the first half of 2022, according to the data on business licences issued and renewed in the department’s branches in the cities and regions of Sharjah.

In detail, the number of issued and renewed licences in Sharjah city reached 26,670 during the first half of this year. The Central Region branch came second with 3,753 licences, while Khor Fakkan branch hit 1,314. Kalba branch amounted to 1,140 licences, while Dibba Al Hisn branch reached 280 licences.

Salim Ahmed Al Suwaidi, Deputy Director of the Commercial Control and Protection Department at SEDD, explained that the department conducted 81,933 inspection campaigns on various economic establishments in the emirate during the first half of 2022. Al Suwaidi added that SEDD dealt with many cases of consumer complaints, each of which was fully addressed in cooperation with all concerned parties. The department oversaw 5,374 complaints received during the first half of 2022. According to the data, these complaints were distributed, with consumer protection complaints forming the largest share of them at 4,578. They were followed by 477 complaints of commercial fraud, and 319 complaints by service agents.

In detail, consumer protection complaints were distributed to include various sectors, as complaints from the automotive sector and its spare parts recorded 23 percent of the total consumer protection complaints received by SEDD. Also, complaints about mobile phones amounted to 12 percent, complaints about furniture and curtains were seven percent, and complaints about personal services activities amounted to nine percent. In addition, electrical appliances and building materials complaints amounted to six percent, while complaints about tourism, travel and shipping amounted to five percent. Also, other complaints were unevenly distributed among various other economic sectors.

SEDD implements a series of intensive inspection campaigns on sales outlets and shops to ensure the correctness and accuracy of the trade balances used in outlets in local markets. These scales aim to conform to UAE mandatory standards and specifications approved in this field within the department’s plans for metrological verification of legal measuring instruments and to ensure their conformity with the country’s technical regulations on weights and scales. This comes within SEDD’s supervisory role over the markets in the Emirate and out of its keenness to enhance confidence in the Emirate’s markets. Thus, according to SEDD’s data, the total number of calibrated scales amounted to 2,553, and the proportion of compliant scales that conformed to standards was 98 percent of the total calibrated scales.

 

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CategoriesPress Release

Sharjah Summer Campaign welcomes tourists and residents with packages

The Sharjah Commerce and Tourism Development Authority (SCTDA) has announced the return of its annual Sharjah Summer Campaign. Running from July 14 to September 30, 2022, SCTDA’s seasonal campaign features an integrated package of exclusive hotel offers and discounts on an array of activities throughout the emirate’s popular tourist and hospitality destinations.

The competitive offers and exclusive family and hotel packages include discounts on entry tickets to a host of destinations and attractions popular with all age groups. Sharjah Summer Campaign 2022 aligns with SCTDA’s commitment to launch leading initiatives that enrich and enhance the tourist experience and strengthen Sharjah’s appeal as a compelling global destination, any time of the year.

Visitors and residents can create lasting memories with exclusive family packages as they explore Sharjah’s breathtaking natural landscapes. Visitors can also engage in unique recreational experiences including sports and family activities, savour gastronomical delights, and take immersive cultural tours through historical, heritage, and eco-tourism destinations and cultural landmarks, in addition to enjoying a range of shopping options. The annual campaign aims to drive tourism and bolster Sharjah’s position as a safe tourist and family destination on the global stage.

Khalid Jasim Al Midfa, Chairman of SCTDA, said: “We are delighted to welcome visitors from the UAE and the region this summer with specially curated packages and exceptional offerings to inspire and nurture the interests of adventure enthusiasts, nature lovers, thrill seekers, holidaymakers, and families. Visitors can partake in truly local experiences across the wide spectrum of the emirate’s ecosystem and enjoy its rich history, geography, nature, culture, heritage, archaeology, and arts, as well as a range of adventure experiences including mountain and aqua entertainment activities.”

The SCTDA Chairman added: “In collaboration with our government and private sector partners and in line with the vision of the wise leadership, SCTDA aims to reinforce Sharjah’s position as a key experiential travel destination that offers unrivalled experiences with its distinctive blend of history, culture, heritage, art, and outdoor activities.”

“Every year, with the opening of new leisure and hospitality projects, discerning visitors to the emirate benefit from an increased choice of authentic experiences. Tourism is a key pillar of the UAE economy and we are committed to improving the quality and excellence of the services sector to support and strengthen Sharjah status as a sustainable tourism destination,” he added.

SCTDA is collaborating with 16 hospitality entities for the Sharjah Summer Campaign 2022 to provide special packages and offers to visitors and tourists from the UAE and beyond. Participating entities include Oceanic Khorfakkan Resort & Spa; DoubleTree by Hilton Sharjah Waterfront Hotel & Residences; Centro Sharjah; Marbella Resort, Sharjah; Coral Beach Resort Sharjah; Sheraton Sharjah Beach Resort & Spa; Mysk Kingfisher Retreat; The Chedi Al Bait, Sharjah; Mysk Al Faya Retreat;

Novotel Sharjah Expo Centre; Occidental Sharjah Grand; Pullman Sharjah; Mysk Al Badayer Retreat; Four Points by Sheraton Sharjah; Luxe Grand Hotel Apartments; and Golden Tulip Hotel Apartments.

Perfectly blending elements of the old with the new, Sharjah is a land of great natural and cultural wealth. A leading leisure and holiday destination for local and inbound travellers, the emirate is famed for its eco-conscious and restoration projects, world-class hotel brands, historical and archaeological sites, diverse outdoor landscapes, art and heritage experiences, and boasts an array of family-oriented attractions and events.

Meanwhile, Sharjah Livestock Market, one of the projects of the Sharjah Asset Management Company, the investment arm of the Government of Sharjah, received 7,359 visitors during Eid, where the total number of livestock received by the slaughterhouse amounted to 7204. All livestock was received, slaughtered and delivered according to the highest quality and public safety standards. In addition, the market and facilities were equipped to provide services needed by visitors throughout the holiday so that the process would be completed quickly and easily.

Eng. Abdalla Al Shamsi, Manager of Sharjah Livestock Market, said: “On the first day of Eid, Sharjah Livestock Market received 2465 animals which included 2424 sheep, 40 cows and one camel. On day two of Eid, the slaughterhouse received 2577 livestock, including 2543 sheep, 23 cows and 11 camels, and on the third day, it received 1,538 livestock, made up of 1,529 sheep and nine cows. On the final day of Eid, the slaughterhouse received 624 livestock, including 617 sheep, five cows and two camels.”

Al Shamsi added that the number of livestock received by Khorfakkan Livestock Market during Eid amounted to 643 cattle, including sheep, cows and camels. In contrast, the recently opened Kalba Livestock Market received 1,253 livestock. In addition, visitors were impressed with its design and facilities and the latest technologies operating to international standards in terms of health and hygiene.

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CategoriesPress Release

Expats rank UAE first globally in boosting job opportunities

The Emirates also ranks among world’s top 10 best countries to live and work
Expats in the UAE believe that moving to the country has improved their career prospects and widened job opportunities, ranking the Emirates first in the world. Moreover, UAE has been ranked among the world’s top 10 best countries to live and work for expatriates.
The InterNations’ Expat Insider 2022 survey, released on Tuesday, included responses from nearly 12,000 people, covering expats’ satisfaction with the quality of life, ease of settling in, working abroad, and personal finance in their respective country of residence. For the first time, the survey included the new Expat Essentials Index, which covers digital life, admin topics, housing, and language.
According to the 9th edition of the survey, UAE ranks 6th out of 52 countries while 71 per cent of expats are happy with their life in the UAE, the same as the global average.
“Expats are particularly happy with the ease of handling Admin Topics (ranked third) in the UAE. First of all, 83 per cent found it easy to get a visa to move there, compared to only 56 per cent globally, ranking the UAE first worldwide for this factor. Once they arrive, over three in five expats (61 per cent) have no problem dealing with the local bureaucracy/authorities, 21 percentage points more than the global average,” InterNations said in the report.
‘Government system is the best’
The widely available administrative/online government services also contribute massively to UAE expats’ happiness.
Around 85 per cent of people say that it is easy to live in the UAE without speaking the local language compared to 51 per cent globally. “The government system is the best,” the report said, quoting an Indian expat.
Moreover, the other factors that make UAE attractive for expats are easier to get high-speed internet access at home and to pay without cash.
However, about one in five are unhappy with their access to online services, such as social media, because the authorities have banned access to websites and platforms that violate the UAE’s social, moral, religious and legal framework.
The UAE scores another top 10 ranking in the quality of life index, where it’s ranked 5th. Expats are particularly happy with the leisure options and also appreciate the culinary variety and dining options, as well as the culture and nightlife.
Expats have also rated the UAE highly for travel and transit, with 90 per cent being happy with their travel opportunities while 95 per cent rate the infrastructure for cars positively. The UAE ranks first worldwide for the latter.
Health and well-being
The InterNations survey found that expats voted the UAE third for personal safety, as nearly all expats – 94 per cent – are happy with this factor as compared to 81 per cent globally.
“I feel safe as a woman to go out walking on dark evenings. In the day, I do not fear any theft,” reports a British expat. Around 86 per cent of expats are also very satisfied with the political stability in the UAE.
Importantly, 78 per cent of expats in the Emirates find it easy to access all the kinds of healthcare services they need. Expats also rank the quality of medical care (6th) and availability of healthcare (6th) very highly. However, only 56 per cent find healthcare affordable, slightly below the global average of 61 per cent.
A welcoming place to settle in
The UAE has been ranked quite well – 13th – when it comes to ease of settling in. It performs best in the culture and welcome subcategory (10th), with 77 per cent of expats saying they feel welcome there versus 66 per cent globally. About two in three (65 per cent) also report that they are happy with their social life. Overall, 69 per cent describe the local population as friendly, and 74 per cent consider them particularly friendly towards foreign residents.
Expats seem to love working in the UAE, voting the country fifth in this index. It even places third in the career prospects subcategory as about four in five expats feel that moving to the UAE has improved their career prospects, ranking the country first worldwide for this factor. It is hardly surprising that they are also happy with their career opportunities and the local job market.
The survey found that expats feel the local business culture encourages creativity/thinking outside the box (2nd) and promotes independent work and/or flat hierarchies. “The country encourages ambition, innovation, and pursuing opportunities,” says an expat from Australia.
The survey found that 87 per cent of expats are happy with this salary and job security subcategory. However, only 55 per cent feel that they are paid fairly for their work, based on industry, qualifications, and their role.
Globally, according to the Expat Insider 2022 survey results, Mexico, Indonesia, Taiwan, Portugal, Spain, the UAE, Vietnam, Thailand, Australia, and Singapore (10th) are the best destinations for expats.
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His Highness’ leadership has transformed Sharjah into one of the best and most attractive cities in the world

His Highness’ leadership has transformed Sharjah into one of the best and most attractive cities in the world

His Excellency Khalifa Al Shaibani, Director General of Tilal Properties, stated that His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has during the past fifty years, led the march of renaissance and progress in the emirate, helping it become a center of knowledge and science and a beacon of development and civilization. Under his guidance, projects were launched, architectural structures rose, and infrastructure was developed, which transformed Sharjah into one of the best and most attractive cities in the world to visit, live and work in, and providing a decent life and job opportunities for the emirate’s sons and daughters.

Al Shaibani pointed out that the “Emirate of Sharjah” has become a global icon with his wisdom, enlightened leadership and exceptional personality. With his focus on people’s development and using culture as the bridge of communication, the emirate has reaped numerous titles of glory and badges of excellence, from being named the capital of Arab and Islamic culture, to being recognized as a healthy and child-friendly city. In addition, Sharjah pioneered, at regional level, the inclusion of citizens in the management of the emirate’s affairs through the advisory council, while His Highness’ directives have also been instrumental in supporting family stability and providing comfortable housing for families.

CategoriesPress Release

Sharjah Ruler appoints Sultan bin Ahmed as President of University of Sharjah

Deputy Ruler will also be chairman of University of Sharjah’s board of trustees

Sharjah: His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, issued Emiri Decree No. 46 of 2021 regarding the appointment of the President of the University of Sharjah (UoS).

The decree stipulates that Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, will be appointed President of the University of Sharjah and Chairman of its Board, as of its date.

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Tilal City to Become New Destination for Sport Events in 2022

Tilal City, in line with its vision to promote an active lifestyle and encourage healthy behaviors among residents and the wider community, is looking forward to presenting an exciting lineup of sporting events and activities in the new year.

Cycling events for the new year will kick off mid-January 2022, with races for riders of all skill levels planned for the coming year. Tilal City hosted 3 cycling races, organized by the UAE Cycling Federation, in November and December of 2021. The last race of the year took place on 18 December and saw 65 male and 39 female professional cyclists taking part in the 60km and 36km events, respectively.

His Excellency Yasser Omar Al-Doukhi, Secretary-General of the UAE Cycling Federation, said: “The events hosted by Tilal City are an affirmation of the status and importance of sport. Cycling, especially, continues to draw great interest and attention from people of different ages and nationalities.  In addition to being an easy sport to participate in, it offers many benefits, such as building a healthy and athletic body and preserving the environment. It also contributes to the promotion of sporting culture in society and the advancement of the sport scene in general.”

The previous race attracted participants from various Emirates and clubs, including Shabab Al Ahli, Al Nasr, Abu Dhabi, Al Hamriyah, Ittihad Kalba, Masfout, Al Rams, Al Arabi, Al Jazira Al Hamra, Al Taawoun, Khor Fakkan, Sharjah, Dibba Al Hisn, Al Nasr Club, Abu Dhabi Club, Team Dubai Police, Yas Abu Dhabi team, and Al Wathba team.

Tilal stated: “We are committed to contributing to the promotion of sporting culture in our society and the advancement of the sport scene in general. Our infrastructure can be utilized for cycling training and a range of different sport races and events. The year 2022 will be filled with activities for all ages and we are excited to welcoming people to Tilal City.”

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Sharjah Ruler approves AED 34.422 billion budget for 2022

H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved AED34.4 billion for the 2022 general budget for the Emirate of Sharjah. This is in line with the emirate’s strategic vision regarding promoting economic and social development, enhancing financial sustainability, and stimulating the overall economy.

The general budget contributes to both services and development and is based on the process of strengthening the emirate’s financial pillars to advance economic, cultural, scientific and tourism leadership and enhance capabilities to meet various economic challenges. The budget has adopted various strategic goals and indicators, including promoting investment in infrastructure and other economic activities to achieve a competitive advantage, and providing various forms of social support to address the needs of citizens.

The budget aims to use the best means to stimulate the economy, encourage development, and ensure financial sustainability, as well as to support the growing interest in human resources and to enhance the role of citizens.

H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, said, “The Sharjah government’s budget for the year 2022 follows the directives and comes with the blessing of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, to complete the emirate’s march in achieving the highest levels of excellence, success and sustainable development in all sectors and fields. It is set to help the emirate continue to build on what has already been achieved, according to His Highness’s insightful vision.”

He added, “The new year’s budget, which exceeds AED34 billion, and which has increased in quantity and quality over the previous year, calls on each of us to take responsibility and to contribute to the advancement of Sharjah in a fitting manner to ensure a better future for all. Under the wise leadership of H.H. the Ruler of Sharjah, who offers his limitless support and of H.H. Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Executive Council, it is our duty to develop all areas and services and to implement projects according to the best standards to maintain social cohesion and achieve prosperity for all.”

Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Central Finance Department in Sharjah, indicated that the emirate’s new general budget adopts many strategic and financial goals and priorities, which reflects the directives and vision of His Highness the Ruler of Sharjah, as well as that of the Executive Council. It also supports the strategic vision of the Central Finance Department, which works to achieve higher levels of financial sustainability, to efficiently manage government resources, to support government agencies in terms of service provision, to strengthen strategic partnerships with the private sector, and to provide incentives that ensure the continued advancement, growth and development of the emirate.

His Excellency Waleed Al Sayegh, Director General of the Central Finance Department, stressed that while the world is witnessing instability because of the negative effects of the pandemic, Sharjah has created an ideal balance between development and services, resulting in the continued implementation of capital projects and initiatives. Both Khorfakkan and Kalba, as well as the rest of the emirate’s regions, witnessed an urban renaissance with social, tourist and cultural dimensions.

Expenses

The Director General indicated that the general budget has increased by (2%) compared to the 2021 budget, and that the government will continue to support capital projects to ensure continuity in meeting the spending needs on these projects in 2022. The capital projects budget constitutes (30%) of the general budget.

Salaries and wages constitute (25%) of the budget, an increase of (4%), while operating expenses make up (25%) for the year 2022, an increase of (3%) compared to the budget of 2021. The budget for support and aid accounts for approximately (11%) of the general budget, (3%) more than in 2021, while the balance of loan repayments and interest constitute (7%) of the total, which is an increase of (18%). This will enhance the government’s solvency and ability to meet all its obligations.

In addition, to enable the government to achieve its strategic and operational goals and initiatives, the Department of Finance wants to enhance the government’s financial stability and sustainability by increasing the level of spending by (2%), thus improving government agencies’ ability to meet development requirements.

The process of classifying the budget according to economic sector is one of the most important tools reflecting the government’s strategic direction. The infrastructure sector ranked first with (44%) of the total general budget for 2022, which is an increase of (4%). This reflects the government’s interest in developing the emirate’s infrastructure, which is the backbone of the development and sustainability process, and which attracts foreign and local investments across all vital sectors.

The economic development sector ranked second with an allocation of (27%) of the total general budget for 2022, followed by the social development sector, with (21%). The increase of (3%) will help provide the best services, support and assistance to citizens and residents in the emirate. The government administration, security and safety sector constitutes (8%) of the total general budget for 2022, an increase of (8%) compared to 2021.

Revenues

With government revenues being the main source of financing for the general budget, the government has paid special attention to the development of these revenues, particularly in terms of improving collection efficiency and developing smart tools and methods to assist in this regard.

Government revenues is expected to see an increase of (49%) for the year 2022, compared to the general revenue budget for the year 2021, with operating revenues constituting (53%) of the total revenue budget for the year 2022, an increase of (8%) compared to the operating revenues for 2021. Capital revenues is expected to represent (35%) for the year 2022, showing a significant increase over 2021. Tax revenues will represent approximately (6%), an increase of roughly (20%) compared to last year, while customs revenues will constitute (3%). Oil and gas revenues are expected to be around (3%), a noticeable increase compared to oil and gas revenues for 2021.

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CategoriesPress Release

Tilal sells 50 plots as part of its 50th UAE National Day campaign

Sharjah-based real estate development company Tilal Properties, the product of a joint venture between Sharjah Asset Management and Eskan Real Estate Development, has successfully concluded its Year of the 50th offer.

The offer, which saw the company offer a 50-month payment plan on 50 plots in Tilal City, with no down payment, no service fees, and a waiver of the registration fees, was launched in celebration of the UAE’s 50th National Day, and with the aim of helping people realize the dream of owning a piece of land in the UAE.

Commenting on the campaign, Tilal Properties, stated: “The United Arab Emirates, with the support of its wise leadership, has accomplished outstanding success in all fields during the past 50 years. We wanted to celebrate the nation’s golden jubilee by helping people achieve the goal of obtaining a piece of land in this great country.”

Tilal added: “We are excited to announce that we have finalized the 50th sale, bringing our Year of the 50th campaign to a rapid and successful conclusion.”

The 50th plot was bought by Mr. Hisham who said: “I am grateful to Tilal Properties for this opportunity. As a result of this generous offer, and thanks to the 50-month payment plan, I am now a landowner. It is a dream I have held for a long time and now I can proceed in planning, designing, and building a family villa that perfectly meets our needs.”

Tilal City is a mixed-use project by Tilal Properties, comprising multiple zones and covering a total area of 2.32 million square metres. The project has been designed to accommodate 65,000 residents, with 48% of its area allocated for parks, education, and community facilities.

The project features eight community centres which offer residents a diverse range of high-quality retail, leisure, and entertainment options. Two community centres, located in Naseem Villas and Naseem Residence respectively, will open in the first quarter of 2022.

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SHARJAH ECONOMY” BRANCHES COMPLETED 8,977 LICENSES WITH A GROWTH OF 18% IN THE THIRD QUARTER

The Department of Economic Development in Sharjah completed 8,977 licenses issued and renewed during the third quarter of this year, according to the data on business licenses issued and renewed in the department’s branches located in the cities and regions of the Emirate of Sharjah.

In detail, the number of issued and renewed licenses in the Industrial Branch reached 5978 during the third quarter of this year, while the Central Region branch came second with a total of 1661 licenses, and the Khor Fakkan branch came third with a total of 618 licenses, and the Kalba branch came fourth with a total of 607 licenses, then Dibba Al Hisn branch with 113 issued licenses and renewed.

Teams of commercial officers in the branches of the Department of Economic Development in the Eastern and Central Region and Industrial Zones carried out 38,140 supervisory visits during the third quarter, an increase of 84% over the same period in 2020, as these teams work continuously to ensure the safety of all economic practices in economic establishments in all regions of the emirate. The branches of the department have also intensified their role during the current period in order to ensure that all establishments comply with the instructions, circulars and policies regulating the practice of business within the precautionary and preventive measures.

In the context of the geographical distribution and the number of supervisory tours of the department’s branches during the same period, the Industrial Branch recorded the highest rate in the number of supervisory tours, with a total of 21,576 visits, while the number of tours in the Central Region branch reached 8,450 visits, while the number of visits in the Khorfakkan branch reached 3746. The number of visits in the Kalba branch reached 3302, and 1066 visits in the Dibba Al-Hisn branch.

Attractive investment environment

Sultan Abdullah bin Hadda Al Suwaidi, Head of the Department of Economic Development in Sharjah, explained that the movement of business licenses during the third quarter confirms the strength of the local economy and the attractiveness of the investment environment, which are indicators that indicate a sustainable growth for the economy of the Emirate of Sharjah, where the emirate has a strategy through which it seeks to maintain the pace Good growth rates during the next phase, which depend on attracting elements that include the distinguished geographical location, the great development witnessed by the service sectors, and the continuous development of services to match the highest international quality standards in terms of speed of delivery and access to dealers in the economic sector and investors in the emirate, and striving to complete transactions easily and conveniently. .

He stressed that the economic strategy adopted by the “Sharjah Economy”, which is in line with the directions of the wise leadership of the UAE, ensures the achievement of good growth rates and constantly developed, where work and development are continuing in all cities of the emirate and continuously from an urban renaissance that was clearly reflected on the development and development projects, which works To attract more visitors, boost the economy and increase investments in the Emirate of Sharjah.

Khalfan Al Harithi, Director of Branches Department, pointed out that the cities of “Al Sharqiya” are witnessing a remarkable investment movement, as the huge development projects launched by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah in the region, had a great impact on the economic sector. The indicators of the department for the last period show that the rates of issuing business licenses have achieved a remarkable increase of 18% compared to last year, which bodes well for a commercial and economic recovery in the region.

He stressed that the department’s provision of advanced digital services and the employment of the latest remote communication technologies to communicate with partners and the public of customers and ensure the provision of services to them smoothly and safely, contributed to encouraging and motivating their business and expanding their trade and economic activities in the emirate, in addition to other attractions from a distinguished geographical location supported by the continuity of movement The development, where a number of tourism and urban facilities and tourism and commercial projects were opened, which will contribute to increasing the demand for investment in them.

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