Sharjah: Industrial investment has enjoyed huge growth in the UAE, lead by Abu Dhabi, followed by the emirates of Dubai, Sharjah, Ajman, Ras Al Khaimah, Umm Al Quwain, and lastly Fujairah, despite having taken big steps itself regarding industrial improvements.
Recent statistics recorded an 8% growth rate for industrial facilities in 2008, with an increase of 90 industrial companies compared to 2007, thus raising the number of companies in the emirate of Sharjah to a total of 1210 in 2008, compared to 1120 in 2007.
Sheik Abdullah bin Fahid Al Shakrah, Chairman of Al Hanoo Holding and Emirates Industrial Cities Company said, "Recently, investors have been keen to invest in new areas. A lot of these investors have chosen the industrial sector, increasing the number of licenses, industrial facilities, workers, and types of industrial facilities. This clearly shows that the UAE is not exclusive to real estate investment, but is also active in all sectors".
Al Shakrah, whose company is developing "Emirates Industrial City", a project aspiring to facilitate investors' industrial activities, said "The country has been very supportive of investors through the many facilities the country offers, as well as the country's continuous efforts to overcome any obstacles with sound legislations that make the UAE a safe haven for investments".
Statistics, issued last year, reported an increase in industrial activities of AED 249 million in the emirate of Sharjah by the end of 2008, compared to 2007's figure of AED 4.039 billion. Therefore industrial activities amount to a total of AED 4.288 billion, with an annual growth of 6.2%.
The annual number of workers in the industrial sector has also increased by 3,940 to 77,564 workers, compared to 73, 624 in 2007, with a growth rate of 5.4%. The number of workers is expected to increase further due to the current fluctuations of the property market, with investors going for new types of investments in the industrial sector.
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About Al Hanoo
Right from the days of its inception in 1972, Al Hanoo Holding Company has been committed towards the development of the property sector in KSA and many other neighbouring countries.
Besides properties, Al Hanoo Holding Company has also founded subsidiary companies that have a strong presence in Contracting, Gas and Electricity networks installation, Agriculture, Trading, and many other developing sectors. This diversified approach is what makes Al Hanoo a pioneer and an integral facet in the economic hub of various countries in the world.
About Emirates Industrial city
Based in Emirates Industrial City project, Emirate Industrial City is a joint-stock company between Al Hanoo Holding, Abudullah Al Zamil Co., Muhammad Abdul Aziz Co., Al Saeedan Properties and Kal Development. The Company specializes in industrial cities' development and Real Estate. It had made itself a powerful presence in the market through Emirate Industrial City project located in Sajaa, Sharjah, on the road between Dubai and Rak. This project covers an astounding 38,000,000 square feet, with strategic location having direct access to important free zones, highways, air, land, and marine ports, and import-export corridors, in addition to being surrounded by a 100 meter wide-road, offering easy access to the project. The project will also feature lots of exclusive amenities. The company has implemented a wide range of services and facilities in the project, making it a brilliant example for industrial cities in the future; moreover, the project has made big rewarding revenues. The project, with complete infrastructure, is an industrial one, which investors have made big success by choosing it.
For further information, please contact:
Mustafa Al Khafaf
SAHARA PR
Tel: +971 4 3298996
Fax: +971 4 3298995
E-mail: mustafa@saharagcc.com
© Press Release 2009
