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Sharjah Ruler approves Emirate’s largest-ever general budget for 2024

The budget includes a total expenditure of Dh 40.832 billion

His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the emirate’s largest-ever general budget for 2024, amounting to approximately Dh40.832 billion.

The massive budget aims to ensure financial sustainability and focuses on providing social welfare, ensuring social security and safety, and maintaining the sustainability of critical resources like energy, water, and food. It reflects the emirate’s commitment to securing a decent standard of living for its residents.

The Government of Sharjah’s general budget for 2024 has seen a 16 per cent increase in expenditures compared to 2023. This year’s budget allocates 20 per cent for capital projects, ensuring the continuation of their needs and requirements.

Allocations

Salaries and wages constitute 26 per cent of the budget, with operating expenses at 25 per cent, marking a 6 per cent increase from 2023. Support and assistance account for 12 per cent, and capital expenditure is 2 per cent. Loan repayments and interest form 15 per cent of the budget, a significant 36 per cent rise over the previous year.

In terms of sector allocation, infrastructure leads with 40 per cent of the total budget, a 26 per cent increase from 2023. Economic development follows at 30 per cent, up 8 per cent from the previous year. The social development sector receives 21 per cent, up 5 per cent from 2023, reflecting the government’s commitment to providing quality services and support to citizens and residents. Government administration and safety account for 9 per cent, a 41 per cent increase from 2023.

Revenue development remains a focus, with a 5 per cent increase planned in public revenue for 2024. Operating revenues are expected to constitute 71 per cent of the total, up 8 per cent from the previous year. Capital revenues will be 11 per cent, tax revenues 9 per cent, customs revenues 4 per cent, and oil and gas revenues 5 per cent.

2023-2030 financial plan

The Sharjah Government aims to mitigate financial and economic challenges, protecting citizens, residents, companies, and institutions. The budget supports various economic, social, scientific, cultural, and civilizational goals, with a focus on citizens as the central pillar.

In line with the 2023-2030 financial plan, the budget aims to control and optimize spending, particularly in areas that may not add value to competitiveness and financial sustainability. The budget increase for 2024 also aims to enhance government spending efficiency and empower entities to finance programs, activities, and strategic plans.

The 2024 budget of Sharjah, focused on strengthening its financial foundations, is designed to foster a vibrant social, civilizational, cultural, and health environment. It ensures that residents benefit from the emirate’s economic growth while enhancing the government’s ability to address global and regional economic challenges, including inflation, high interest rates, and recessions.

Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, commended the adoption of the emirate’s largest-ever budget, saying that the budget will play a significant role in advancing the civilizational and developmental progress of Sharjah, focusing on human development and securing a prosperous and stable life for Emirati families.

Stimulus packages for private sector

The Crown Prince of Sharjah emphasized that the emirate’s general budget mirrors the developmental vision and directives of the Ruler of Sharjah. It aims to reinforce Sharjah’s prominence in various sectors, bolstering social stability, economic competitiveness, cultural leadership, and quality tourism, while focusing on a scientific and educational resurgence.

He further noted that the budget will empower government entities to fulfill their objectives, aligning with Sharjah’s strategic plans. This includes undertaking infrastructure development, advancing scientific and technical projects, achieving food security, and promoting business and tourism, thereby enhancing the quality of life, safety, and security for Sharjah’s citizens and residents.

For his part, Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Sharjah Finance Department, emphasized that the emirate’s general budget features a multitude of strategic and financial objectives and priorities. These objectives reflect the wise directives of the Ruler of Sharjah and his comprehensive and forward-thinking vision, as well as the directives of the Executive Council and the strategic vision of the Finance Department.

Furthermore, Sheikh Mohammed bin Saud Al Qasimi highlighted that the budget will strengthen strategic partnerships with the private sector. It will also introduce stimulus packages designed to support the private sector’s pivotal role in driving the emirate’s growth and development. Additionally, the budget aims to evolve public budget financing methods by exploring the best financing opportunities both internally and externally.

 

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Sultan Al Qasimi lays Al Hamriyah desalination plant first brick

His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah laid the foundation stone for the new water desalination plant project in Al Hamriyah, on Tuesday morning, costing AED1.65 billion.

His Highness was briefed on the authority’s strategy in water projects 2023-2033, which bolsters water security, meets comprehensive development needs following the highest quality standards and ensures sustainable access to pure water.

His Highness and the attendees watched a media production covering the stages of the new water station project in Al Hamriyah, highlighting the modern technologies used, along with several projects, including transmission and distribution lines, the modernisation of water networks, in addition to pumping stations and water tanks to improve the operation’s efficiency and increase water storage capacity.

The project is one of the biggest investments in the field of water in Sharjah, as it aims to increase the production capacity of Al Hamriyah station to 110 million gallons per day and a storage capacity of 90 million gallons, in addition to consuming energy not exceeding 3.2 kilowatts per hour to produce a cubic meter of water.

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SEC approves 3rd batch of housing in 2023

Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Sharjah Crown Prince, Deputy Ruler, and Chairman of the Executive Council chaired a meeting of the Sharjah Executive Council this morning at the Sharjah Rulers office in the presence of His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Vice Chairman of the Executive Council.

In order to achieve the development objectives defined by Sharjah, the Council discussed issues relevant to the emirate’s government operations. Because of its comprehensive approach to improving and developing all areas, the council hopes to have an advantageous impact on people’s lives in many different ways, including social, cultural, economic, and others.

In accordance with the directives of His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Member of the Supreme Council, the Council, and Ruler of Sharjah, the Executive Council has authorised the third round of housing support recipients for the year 2023, with the aim of improving family stability. There will be 550 recipients, and their total cost will be 373 million AED.

New construction, completion, addition, maintenance, and getting a government dwelling are all included in the batch arborized, which includes grants and loans in all cities and areas of the Emirate of Sharjah.

Since the Housing Department was established, 12,113 beneficiaries have received a total of AED 10,391 billion in housing help.

The Council approved a resolution to establish an Executive Committee and expand the reach of health cities in the Sharjah Emirate.

The resolution stipulates that an executive committee for expanding the scope of health cities in the Emirate of Sharjah shall be formed, with the chairmanship of Dr Abdulaziz Saeed Al Muhairi, the Chairman of the Sharjah Health Authority. The resolution further names the following members of the committee:

  • Issa Hilal Al Hizami, Chairman of the Sharjah Sports Council.
  • Brigadier Abdullah Ibrahim bin Nassar, Deputy Director-General of Resources and Support Services at the Sharjah Police General Command.
  • Abdullah Suleiman Al Kabouri, Director of the District and Village Council Affairs Department
  • Dr Abdullah Mohammed Al Kadid Al Mahrazi, Director of Statistics at the Department of Statistics and Community Development in the United Arab Emirates
  • Hussein Ali Al Mulla, Media Relations Executive at Sharjah Government Media Bureau
  • Hessa Abduljabbar Al Khaja, Director of the Sharjah Educational Zone.
  • Sheikha Najla Ali Al Mualla, Director of the Central Laboratories Department at the Municipality of Sharjah City
  • Iman Rashid Saeed, Director of the Health Promotion Department at the Supreme Council for Family Affairs
  • Hanadi Saleh Al-Yafei, Director of the Child Safety Department at the Supreme Council for Family Affairs.
  • Dr Amira Saif Al Khaja, Director of Primary Healthcare Centres at Emirates Health Services
  • Khulud Ahmad Al Nuaimi, Executive Affairs Director for the Community Service Sector at the Department of Social Services.
  • Asmaa Hasan Al Marzouqi, Director of the Government Communication Department at the Directorate of Human Resources.
  • Lahib Al Mutawali, Quality Assurance Expert at the Sharjah Private Education Authority.

 

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SHARJAH RULER INAUGURATES AL SUYOH MALL

His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, opened, this Wednesday morning, Al Suyoh Mall, the second community market implemented by the Sharjah Retail Group of the Sharjah Cooperative, located on Mleiha Road in the Al Suyoh suburb.

Touring the mall, His Highness inspected the mall’s facilities, including retail stores, entertainment facilities, and service facilities, in addition to restaurants and cafes.

His Highness was briefed about the mall, which includes more than 50 stores, including well-known brands.

During his tour, His Highness was briefed on the branch of the Sharjah Cooperative Society, which serves residential communities in the suburb and neighboring areas.

Visual media was shown to His Highness, telling the background story behind establishing the Sharjah Cooperative Society, the first supermarket in the UAE, informing His Highness of the Co-op’s achievements during the past years and future

 

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AED13.4 billion value of real estate transactions in Sharjah in H1 2023

The real estate sector in Sharjah achieved a trading value of AED13.4 billion during the first half of 2023, with an increase of 19.2 percent compared to the same period last year.

According to the semi-annual report issued by the Sharjah Real Estate Registration Department on the real estate in the emirate, there were 40,843 transactions in the first half of 2023, and the value of real estate mortgages amounted to AED4.1 billion.

Abdulaziz Ahmed Al-Shamsi, Director-General of Sharjah dex Estate Registration Department, said, “The real estate sector in Sharjah continues to be one of the most important economic pillars in the emirate and it continues to accumulate achievements and overcome challenges thanks to the great support of our wise government led by H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Executive Council of Sharjah, and their keenness to support the growth of this vital sector, and ensure its ability to overcome all circumstances.”

He also highlighted the success of the real estate sector in Sharjah in attracting investors from 88 different nationalities during H1 thanks to the incentives and facilities adopted by the government during the last period.

Sales Transactions by Regions

The total area traded in Sales transactions during the first half of this year was 43 million square feet.

Moreover, the number of Sales transactions in the various regions of the emirate during H1 2023 reached 4,187 transactions, with a value of AED5.7 billion. The city of Sharjah accounted for the largest share of the transactions, with 3,794 transactions which took place in 106 areas, and with a total value of AED5.4 billion. Muwaileh Commercial area, Mezair’ah, Al-Khan, and Hoshi areas topped the list in Sharjah city. As for the Benefit Sale transactions, they reached 355, with a total value of AED497 million.

Residential transactions continue to lead

By classifying sales transactions according to the type of property, residential real estate transactions acquired the largest share, with 3,332 transactions, representing 79.6 percent of the total number of transactions. Next, industrial real estate recorded 410 transactions, representing 9.8 percent, followed by commercial real estate with 373 transactions, representing 8.9 percent, while agricultural real estate ranked fourth with 72 transactions, representing 1.7 percent of the total number of transactions.

In terms of the number of traded properties, the total number of properties traded in Sharjah reached 4,187 properties. The Residential Lands topped with 1,327 properties, followed by the Residential Apartments with 1,293 properties, then by the Residential Built-in Lands with 498 properties.

Investors from 88 nationalities

In terms of investors, 88 nationalities invested in Sharjah during H1 2023. The number of Emirati investors reached 7,033, and the number of Gulf countries’ investors reached 525. Moreover, the number of Arab investors reached 1,824, and the number of investors from other countries reached 1,278.

The total investment of Emirati investors amounted to AED8.8 billion with 10,877 properties, and the total investment of GCC investors, excluding Emiratis, reached AED 697.9 million with 672 properties.

As for the investment of Arabs, it amounted to AED2 billion with 2,023 properties, while the total investment of investors from other countries was AED2 billion, with 1,181 properties.

As for the highest nationalities which traded in Sharjah, they were, respectively: UAE nationals with 10,877 properties, Syria with 633, India with 473, Saudi Arabia with 302, Jordan with 282, and Iraq with 248 Real Estate.

 

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SEC approves second batch of housing subsidy beneficiaries

H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of Sharjah Executive Council (SEC), chaired on Tuesday, SEC’s meeting in the presence of H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of SEC.

During the meeting, various topics related to government affairs were discussed, along with the monitoring of community needs and efforts to meet them, ensuring a quality life for the citizens and residents of Sharjah.

In accordance with the directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, aimed at supporting Emirati families with suitable housing, the Council approved the second batch of housing support beneficiaries for the year 2023, comprising 548 beneficiaries with a total of AED 414 million.

This batch covers both loans and grants across all cities and regions of Sharjah, supporting new construction, completion, expansion, maintenance, and the provision of government housing.

Furthermore, the Council approved the second batch of beneficiaries who are exempt from repaying housing loans, converting them into grant recipients, resulting in a total exemption amount of AED 34 million for this year.

Since the inception of the Sharjah Housing Programme, the total housing support provided has reached AED 10 billion and AED18 million, benefiting 11,503 individuals.

Additionally, the Council reviewed the outcomes of the “Itqan” programme, which aims to review and assess the quality and effectiveness of private schools in Sharjah, ensuring they meet the required quality standards.

The report included evaluations of all private schools in the emirate based on 6 criteria, consisting of 17 indicators and 70 elements.

It also presented performance levels, progress ratios, and significant comparisons between the schools’ results from the last two evaluation cycles.

 

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UAE economy poised for stronger growth and recovery in the second half of this year

Domestic economy’s resilience is reflected in the positive forecasts of international institutions and banks, including the IMF and World Bank

Despite the geopolitical ramifications that the global economy is currently facing, the UAE economy is poised for stronger growth, recovery, and prosperity in the second half of this year, supported by a track record of economic successes that have fructified into the UAE’s designation as an innovation-driven economy.

The domestic economy’s resilience, which has passed through the stage of recovery from the consequences of the Covid-19 pandemic, is reflected in the positive forecasts of international institutions and banks, including the IMF and World Bank. Such international recognitions speak for the UAE economy’s durability in the face of global geopolitical turmoil and adverse economic conditions, therefore verifying the success of the UAE leadership’s forward-looking vision.

“The UAE is poised for positive economic growth as it is projected to achieve a 3.6 percent increase in its gross domestic product this year, driven by robust domestic activity,” said the International Monetary Fund, recently.

Following an impressive growth rate of 7.9 percent in 2022, the UAE’s economy is expected to maintain its upward trajectory in 2023, benefiting from sustained tourism activity and higher capital expenditure, the IMF said in its 2022 Article IV assessment.

For its part, the World Bank has projected that the real GDP of the UAE will grow by 2.8 percent in 2023, as the non-oil sector is expected to achieve strong growth of 4.8 percent, driven by robust domestic demand, particularly in tourism, real estate, construction, transportation, and manufacturing sectors.

In a press conference held in Dubai recently to announce the new World Bank Gulf Economic Update (GEU) titled, “The Health and Economic Burden of Non-Communicable Diseases in the GCC”, the bank officials said that the current account balance in the UAE is expected to rise to 11.7 percent in 2023, as well. The report expected the UAE to achieve a surplus in public finances of 6.2 percent in 2023.

These international testimonies are consistent with the forecasts of the Central Bank of the UAE in its quarterly economic review, wherein the apex bank said that the UAE economy continued to grow at a solid pace in Q1 2023, “reflecting a strong performance of the non-oil sector, partially offset by a moderation in the oil segment of the economy. For 2023, growth has been revised down by 0.6 percentage points to 3.3%, reflecting oil production cuts agreed among OPEC+ members. The non-oil sector is expected to continue to support aggregate output, albeit at a more modest pace compared to 2022.”

TheUAE economy is expected to grow further this year for a variety of reasons, including a rise in the purchasing managers’ index to its highest level in five months, namely May this year.  The seasonally adjusted S&P Global UAE Purchasing Managers’ Index– a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy – posted 55.5 in May, indicating a robust improvement in the sector’s performance. Despite dropping from 56.6 in April to a three-month low, the index remained above the 50.0 no-change mark and its long-run average.

According to the S&P Global, the strong rise in new business underlined growing confidence across surveyed firms about economic prospects. Expectations towards activity over the next year improved for the fifth consecutive month in May to the highest level since late-2021.

The UAE’s progress in implementing comprehensive economic partnership agreements will help to improve trade and integration into global value chains, as well as attract more foreign direct investment, boosting national economic growth. Such partnerships are significant drivers for economic growth that create trade and investment opportunities and contributes to the vitality of regional and global trade

and investment flows.

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Sharjah Ruler approves new medical district project

It will house a range of specialisations, including lifestyle and preventive medicine, oncology, women’s health, paediatrics, cardiovascular diseases, neurosciences, among others.
A new medical district — complete with facilities for lifestyle and preventive medicine and women’s healthcare — is set to rise in Sharjah.
His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, on Thursday approved a landmark project that will create an integrated network of healthcare systems in the emirate.
Called Jawaher Boston Medical District, it will feature hospitals and laboratories, as well as research and development centres. It will be located on Emirates Bypass Road, next to Sharjah Mosque.
This project — a pioneering collaboration between Beeah Group, Mass General Brigham Hospitals Network, and Dana-Farber Cancer Institute — is expected to boost Sharjah’s healthcare sector with global expertise and more integrated services
It was approved in the presence of Sheikha Jawaher bint Mohammed Al Qasimi, chairperson of the Board of Directors of Beeah Group and wife of Sheikh Sultan, during a reception held at Badi’ Palace for the representatives of collaborating entities.
The district will house a range of specialisations, including lifestyle and preventive medicine, oncology, women’s health, paediatrics, cardiovascular diseases, neurosciences, behavioural health, and rehabilitation medicine.
Jawaher Boston Medical District is also expected to contribute significantly to medical studies and research in cancerous ailments.
Khaled Al Huraimel, CEO of Beeah Group, said the project will “enhance the quality of life in the emirate and beyond”.
Dr Abdulaziz Saeed Al Muhairi, chairman of Sharjah Health Authority, added the medical district project is a qualitative addition to health services in the UAE.
Dr Hans Thomas, medical and executive director of Mass General Brigham Hospitals Network, meanwhile, expressed his happiness to collaborate on the building of an integrated healthcare system in Sharjah.

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NEWS FROM VISS (Victoria International School Sharjah) CEO

We are excited to announce the launch of the Victoria International School Sharjah- VISS Tilal. Sharjah’s much anticipated new premium international Primary School opening in September 2023 for Pre KG – Grade 6 students Positioned in the exciting new Tilal development, with direct access to the 611 highway and the sprawling new suburbs of Maasar and AL Suyoh, VISS Tilal Primary and later VISS Tilal Secondary, will quickly become the school of choice in this exclusive enclave of Sharjah.
Drawing on over 15 years of expertise of the original VISS campus at AL Taawun, VISS Tilal Primary will be housed in a new state of the Art campus with a focus on open plan learning, STEM, Sport and Creative Arts. The new Primary campus boasts a 500-seat Performing Arts theatre, indoor sporting and swimming facilities, a dedicated innovation and STEM wing and open plan learning spaces and classrooms.
Our Highly trained and professional teachers will come from Australia and from various countries around the world making VISS Tilal a truly world class school. At VISS we want to inspire, engage and support students to achieve their best and become active, compassionate, lifelong learners. We do this through providing a dynamic and supportive learning environment that focuses on educating the whole child.
VISS Tilal will be an International Baccalaureate Primary Years Program (PYP) school that delivers the Australian / Victorian Curriculum. The Australian curriculum sets out what every student should learn whilst an inquiry-based approach to learning will be promoted through the PYP teaching and Learning methodology.
VISS Tilal truly promises to be a world class international Primary School that will quickly emerge as the preeminent school in the northern emirates. We expect interest in VISS Tilal to be very high, so we encourage you to register your interest as soon as possible.
Kind Regards,
Dean Pyrah
CEO VISS School’s Group.