SNASCO to launch first project in the Sharjah Investment Centre this year

Dr Omar Al Mushaabi, General Manager of SNASCO and Managing Director of the SIC said, "This is an extremely exciting project for us, being the first one in the SIC, and there have been several parties who have expressed interest in partnering with us on this project. We are currently looking into the various options in this regard".

"We are immensely excited to announce this milestone in the overall project's development, as it indicates the pace at which this highly significant project is progressing. It also marks the entry of the SIC project into another new phase of its development, and soon we will be seeing many new buildings springing up on the site", he added.

SNASCO engaged the services of Maven Consulting, an arm of JAJ Consultants, for the execution and collation of the feasibility studies for this project, as well as a number of others, which are expected to be announced in the near future.

The firm will develop a 5-storey commercial building to cater to the high demand for office space in the Northern Emirates.

The building, considered a ground-breaking step, is the first to be announced in the Sharjah Investment Centre.

It is expected to be launched before the end of 2008, and it is estimated that the structure will be complete by the end of 2009.

The new commercial building will be home to state-of-the-art offices, designed primarily to cater for small to medium enterprises wishing to establish bases in the Northern emirates.

The building will also include a number of retail spaces to provide support to the businesses operating in the building.

Among these and other attractions, the building will also offer a large number of ample underground parking bays.

The Northern emirates have seen a tremendous amount of activity in the real estate sector in recent months, with very positive responses from both local and international investors.

The SIC has played a major role in this trend, being the first development of its kind in Sharjah, and set to stimulate a number of economic sectors in the region to unprecedented expansion.