Wednesday, Mar 29, 2017
Dubai
Sharjah’s push to create a brand new industrial cluster gets a major boost with the handover of plots to investors at the Al Saja’a Industrial Oasis. The entire project covers 14 million square feet plus, which can be developed for industrial, commercial, mixed-use and retail.
It is situated close to Sharjah International Airport and Al Hamriya Port. Key features include direct access off Emirates Road (E611).
Prices start from Dh86 per square feet for the light industrial plots.
The first phase — featuring 55 plots — was sold to investors on freehold as well as 100-year lease basis. A second phase, with 114 plots, is now on sale. A third phase will follow at a later date.
“ASIO is not a free zone but we can offer free zone benefits to companies establishing in Sharjah,” said a spokesperson at Sharjah Asset Management Holding, an investment arm of Sharjah Government. “Sharjah’s industrial areas represent almost 18 per cent of the emirate’s total land area. Now, some of these areas are in conflict with the Government’s city growth objectives.
“The launch of ASIO is to provide alternative land made available to assist in the relocation of businesses from the inner city industrial areas to fringe industrial developments.”
Apart from the free zone-type benefits, investors in these plots are also exempt from service charges. Bank finance is also being offered.
“As one of the largest industrial projects in the region, ASIO is expected to create up to 21,000 jobs when fully developed,” the spokesperson added.
By Manoj Nair Associate Editor
Gulf News 2017. All rights reserved.
