Sharjah Asset Management, the investment arm of the emirate’s government, announced the launch of a new industrial zone Al Saja’s Industrial Oasis.
The zone is one of the largest industrial projects in the emirate and is part of Sharjah’s diversification strategy.
Located on Emirates Road and in close proximity to Sharjah International Airport and Al Hamriya Port, Al Saja’a Industrial Oasis comprises 353 plots stretching over 14 million square feet of land.
The new industrial zone will help address the needs of owners and investors while meeting the demand for investment in the industrial sector, the zone’s developer said in a statement.
“This development will be officially launched in the near future with full details,” said Sharjah Asset Management’s chief real estate officer Gregg Downer.
“Registered investors will not only benefit from the exclusive plots launched at Stage 1, but shall also have priority to the Stage 2 launch to select their preferred plot(s) prior to the wider public sales. The plots at Al Saja’a Industrial Oasis project will be offered to interested investors on freehold or leasehold basis.”
Sharjah is home to a number of industrial freezones such as Hamriyah Freezone and Sharjah Airport International Freezone, offering a cheaper alternative to Dubai.
Meanwhile the emirate has also seen a number of major projects launched in its residential sector, which might enable more companies to set up base in Sharjah and fill up its industrial zones.
In another move, Sharjah government opened up its residential market for expats to invest in last year as it hopes to attract investors. The government decreed that expats could lease homes for 100 years in certain investment areas of Sharjah.