Sharjah Authorities focusing on industrial and real sector to pull out more investors in the segment. They have earmarked a massive land mass as an “Industrial Park” of around 14 million square feet in which land measuring 10 million sqf will be available to investors. Recently launched the sale of plots in Al Sajaa Industrial Oasis. The first set of plots (55) will be open to the Emirates and Overseas investors.
There will be 4 rounds of sales for all 353 plots in the upcoming months, following the first batch of 55 plots, the second phase with 114 plots, the third with 123 and the fourth with 61 plots. The park aims to promote light to medium scale industrial activity, developments, staff accommodation and retail section area.
Dubai and Sharjah are on the higher side in real estate sector, but are way back from their neighbors, as not providing freehold areas to the overseas investors. Due to this there is limited real estate sector development in Sharjah. Now with the ease in foreign policy, the emirates get into the fast lane.
Sharjah Asset Management (SAM), Project Developer, estimated that the plots could be handed over to the investors by October, 2016. The project will go a long way in helping business growth in Sharjah as there is direct access to Emirates Road and close proximity to the sea and airport.
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