Sharjah hosts Acres Middle East 2008

The event, currently in its 2nd edition, is taking place under the patronage of H.H. Sultan bin Mohammed bin Sultan Al Qassimi, Crown Prince and Vice Ruler of Sharjah, in collaboration with the Sharjah Expo and Sharjah Chamber of Commerce and Industry.

Also on show at the exhibition, which is taking place at the Sharjah Expo Centre from 15 - 18 December, is the company's Emirates Industrial City project. By showcasing these two projects, Al Hanoo is demonstrating the great efforts made in developing projects of this scope, as well as the challenges faced by the company's engineering team.

Sheik Saud bin Khalid Al Qassimi, consultant to the Ruler of Sharjah, visited Al Hanoo's suite at the exhibition. He expressed that, to ensure healthy and successful investments, especially with the current rise of the emirate of Sharjah, in particular, and the UAE, in general, all projects developed on Sharjah's land will have full support from the government.

On the company's participation in this event, Sheik Abdullah bin Fahid Al Shakrah, Al Hanoo Holding and Emirates Industrial Cities Co. Chairman, said:

"The exhibition comes at a time when the global economy is falling apart; a time of recession. The mere fact that it is being hosted, however, confirms the strength of the Emirati economy, which has attracted numerous investors from all over the world. The exhibition also serves as proof of Sharjah's potential to develop leading real estate projects, and bears testimony to the fact that it presents investors and real estate developers with numerous opportunities and solid support."

Experts agree, saying that the event proves that the exploding real estate market in the UAE continues to provide some of the world's most fantastic profits for both local and international investors.

Continued Al Shakrah, "Our projects, specifically, have attracted a lot of attention. Our core focus here is Warehouses City, which stretches over an area of 20 million square feet within the Emirates Industrial City, which in turn covers an area of 38 million square feet. This has been divided into 8 districts, two of which have been specified for warehouses and logistic support, while the other 6 include various activities such as industrial investment, commercial activities, permanent sales exhibition areas for factories and multi-purpose business centers which has the flexibility to host other support services and activities."

Investment in Emirates Industrial City, which includes Warehouses City, currently stands in excess of Dhs5bn. Infrastructure works for the project is 100% complete, while stage one of the Warehouses project, already at 50%, is due for completion within 15 months.