Sharjah Investment Center successfully participates in the Real Estate & Housing Exhibition

The development attracted a group of local and GCC key real estate developers, financing institutions and banks.

Snasco, one of the region's leading real estate and development firms, has showcased its leading project 'SIC' in the leading Saudi exhibition. The project attracted a tremendous amount of interest from Saudi investors and developers, due to its strategic location and diverse usage that incorporates residential, commercial and industrial facilities, in addition to logistic support areas and investment amenities.

SIC's management's decision to participate in this large real estate gathering underscores their continuous concern to stay abreast of the latest trends and changes within the real estate development industry, which is witnessing an era of rapid year on year growth, and to showcase the latest developments in its mega projects for investors and interests.

Commenting on this participation, Saleh Sorayai, Snasco and SIC chairman, said: 'Our participation in The Real Estate & Housing Exhibition comes as a part of our marketing strategy to promote our UAE based developments. Today, we are in our homeland, the KSA, and inviting Saudi businessmen to invest in the Sharjah Investment Center, Sharjah's largest project of its kind, situated in a country that has been already recognized as a favorable destination for Saudi investment.'

'Estatex represents a significant opportunity to communicate with the Saudi real estate market through the Eastern gateway, a region that is receiving increasing governmental support in terms of developing infrastructure and mega projects in partnerships with the private sector. Our participation gives us the opportunity to stay up-to-date on the latest trends and changes, recognizing the demands in the property market, as well as providing a platform to introduce our projects for Saudi investors. We have explored the existing investment opportunities in the Eastern region in a period of record growth in the number of property development projects in the KSA booming market.'

Speaking on the KSA real estate market, Sorayai focused on the increasing demand for housing units in the Kingdom, and the urgent need to develop mega property projects to satisfy this demand, reiterating the great potential this promising market has: 'According to recent statistics, this market needs about 1.5 million residential units during the coming 10 years to meet the predicted demand, with an average of 150 thousand units a year,' he clarified.

Snasco has made a number of marketing and promotional initiatives for its SIC, that included a highly impressive involvement in the local and regional industry exhibitions, the last of which were the Cityscape Dubai 2007, held last October, and the Real Estate, Investment & Building Exhibition in Kuwait 12-16 November.

Located in the heart of the Emirates Road, a few kilometers away from Sharjah International Airport and Al-Hamriyah Port, SIC stands as a vital, fully integrated, multi-purpose project stretching over 32 million square feet. It features industrial, commercial and residential clusters / compounds and provides a wide range of logistic and investment services.

The project includes storage areas, labor accommodation, logistic support areas, and a special area for light and medium industry. Additionally there will be hotels, leisure and entertainment amenities, parks and green spaces, health clubs, restaurants, commercial center and many more other facilities.