REPORT: Al Saja’a Industrial Oasis
Strategically situated on Emirates Road near Sharjah International Airport and Al Hamriya Port, Al Saja’a Industrial Oasis (ASIO) is a groundbreaking and innovative initiative by Sharjah Asset Management Holding, the investment arm of the Government of Sharjah. Originally launched in October 2015 to address ongoing demands from investors and tenants in the industrial sector, the project is in line with Sharjah’s steady and balanced economic development and growth plans.
ASIO features industrial and mixed-use plots, extending over a total area of 14,000,000 square feet. The infrastructure development and associated project costs, excluding land, is estimated at Dh385 million. A total number of 353 commercial, industrial, residential and retail zone plots are situated in the new development. Among the 353 plots available, 220 plots are for light industrial purposes, 45 plots for medium industrial purposes, 84 plots for mixed-use purposes, three plots for retail outlets, and one plot for staff accommodation.
ASIO aims to raise the profile of the Emirate of Sharjah as an ideal environment for steady economic growth, a major logistic hub and a platform for industrial and real estate sectors. Investors at ASIO are able to access world-class infrastructure for the import, export and re-export of goods and materials to and from the UAE. Moreover, investors at ASIO clearly have a competitive edge over other industrial areas: the Emirate of Sharjah offers businesses an incredibly attractive investment environment, a competitively priced real estate market, a balanced diversification of industrial sectors, and the largest SME sector in the region as potential partners or clients.
The launch of ASIO is in direct response to the Government’s desire to provide alternative land being available to assist in the relocation of businesses from the inner city industrial areas to fringe industrial developments. This led to the creation of the ASIO industrial, mixed use and Commercial Park in order to create orderly development and to address the growing needs of investors in the Emirate.
As such, ASIO has helped to enhance Sharjah’s industrial position in the region and invigorate the emirate’s economy by attracting FDI and foreign expertise into the sector. Currently, ASIO offers freehold options for all Arab nationalities, and a 100-year leasehold (Usufruct Right) to all other nationalities. Thus, due to its foreign investment-friendly policies, it is positioned to become one of the largest and most advanced industrial parks in the region.
Moreover, ASIO has had vital contribution to the local and national economy. It offers state of the art infrastructure and advanced logistic facilities that give a competitive edge to the companies that will operate from this base. Al Saja’a Industrial Oasis is expected to attract many companies from different industrial sectors, in what is expected to be the region’s largest number of SMEs operating on the same site.
In early 2017, ASIO announced the handover of its plots to investors. The handover commenced after approval from the authorities had been granted. These new plots feature world-class infrastructure that is on par with global standards. Likewise, the new plots have been fitted with a firefighting network, telecom services, gas connection, streetlights, and power supplies to facilitate immediate construction and client satisfaction.
There were a total of 55 plots on offer in the first stage, which was consequently sold out in 2016. A total of 114 plots have been made available at the stage 2 launch and subsequently, investors have been invited to bid for plot sizes ranging from 16,000 square feet to 112,000 square feet.
Sharjah Asset Management Holding officials have declared that there has been a strong demand and high sales for Stage 2’s 114 plots. With the sale of plots available to all nationalities, the attractiveness of freehold and Usufruct Right title deeds has played a significant part in maintaining Sharjah’s leading status as an industrial hub for the region.
Furthermore, ASIO will contribute tremendously to the creation of jobs in Sharjah and the region. Overall, all of Sharjah’s industrial areas – almost an eighteenth of the total area of the emirate – will be regulated, thus becoming one of the largest industrial projects in the region. As a result, it is predicted that ASIO could create as many as 21,000 jobs when fully developed, including the total population of the industrial area, plus jobs created during development.
ASIO is a pioneer development by Sharjah Asset Management Holding aimed at raising the profile of the Emirate of Sharjah as an ideal environment for steady economic growth. Guided by the vision of HH Dr Sheikh Sultan Bin Muhammad Al Qasimi, Member of the UAE Supreme Council and the Ruler of Sharjah, to create a strong and diversified economy, Sharjah Asset Management Holding follows a varied yet strategic approach to its investments. Sectors that SAMH invests in include finance and trade, logistics, technology, real estate, transportation, industrial, and oil and gas.