Snasco's Sharjah Investment Center continues to attract investment

The purpose of the reception was to share the latest progress of the Sharjah Investment Center (SIC), and to provide interested parties with an opportunity to invest in the project.

Snasco Deputy Chairman, Talal Sorayai, and General Manager, Dr Omar Al Mashaabi, who is also Development Manager of the SIC, were on hand to welcome the investors and answer any potential questions.

The reception proved highly successful, attracting significant interest from those present, and enticing a number to invest in the multi-purpose project, which has been designed to fulfill the needs of various vital economic and industrial sectors. Also on show were projects stemming from the SIC development, such as the Gulf Business Center and the Shorouq Residential Towers.

Commenting on the success of the event, Mr Sorayai, said:

"Snasco organized the reception to keep in touch with our investors, and to discuss market issues and future plans for investment in the property market, including potential long-term joint ventures. We see this sort of long-term partnership as very important, particularly at this point in history, and the SIC is itself the result of a successful joint venture."

"The enthusiastic response we received is a clear indication that investors and businessmen are still interested in long-term projects that are less affected by short-term market fluctuations, as from the outset these projects have been envisioned as taking place over time, and their value to the areas in which they are located is solid and well-established. At SNASCO, we see SIC as just such a project, and we are delighted that this perception is shared by investors and industry professionals," he added.

According to Mr Sorayai, Snasco is accustomed to receiving a lot of attention from large real estate developers, who are interested in partnerships and investment in its projects. However, considering the current economic climate, the interest shown by those at the reception in SIC, and their willingness to invest in the project and form long-term partnerships with Snasco, is remarkable and gratifying, and is clear evidence of investor confidence in both the company and its projects.

Launched in November 2006, the Sharjah Investment Center is an ambitious project that offers unique opportunities for long-term joint ventures and partnerships across multiple dynamic sectors, due to its solid infrastructure, which offers both individual and corporate investors the opportunity to set up offices and commercial facilities in a luxurious work environment. Located on Emirates Road, close to Sharjah International Airport, SIC features industrial, commercial and residential compounds, and provides a wide range of logistic and investment services that promise to further strengthen Sharjah's already robust economic position.