Emirates Industrial City unveiled in Sharjah

The project will cost approximately AED 3 billion and will be developed on 83 million square feet of industrial land in Sharjah, undoubtedly a huge project and the first of its kind in the northern emirate.

Emirates Industrial City (EIC) is located at the Al Saja'a area in Sharjah and will be an extension to the already existing industrial area of the city. Development has started with 50 per cent the land being flattened and the remaining part to be the same early 2005. The project is expected to be completed by year 2007.

EIC will consist of 4 blocks forming a square. The first block will include 20 million square feet of warehouses and the other three blocks will include 63 million square feet of industrial land. The three blocks will be surrounded by a number of four-storey buildings that would be used for office, labor accommodation and residential purposes.

This project is the first for Industrial City Development Company (ICDC) in the UAE. "We see Sharjah as an ideal and strategic location for this project. Considering that Sharjah has the bulk of the industries in the UAE, we saw great opportunity in being closer to our target market," said Mr. Abdullah Bin Fheid Al Shakrah, Chairman of Al Hanoo Holding.

Sharjah is the only emirate that has captured 50 per cent of the industrial companies operating in the UAE.

Mr. Al Shakrah further said: "We are much grateful for the support of His Highness Sheikh Dr. Sultan Bin Mohammad Al Qassimi, Ruler of Sharjah and believing in this project."

Industrial City Development Company is a consortium of developers, real estate and marketing companies based in the Kingdom of Saudi Arabia formed on the basis of the expertise of each unit. It is composed of: Al Hanoo Holding Company - largest developer in KSA; Al Zamil Group of Companies - biggest industrialist in KSA; Al Habib Real Estate - expert in real estate investment; and, Al Seidan Real Estate - leading real estate marketing firm in KSA.

Since its acquisition of the Sharjah property, the value of the property has appreciated to 35 per cent over the first nine months of the year.

ICDC plans to expand to the Gulf and neighbouring countries and will have strategic partnerships with the respective governments.

"We will continue to invest in the GCC countries and expand to other Arab nations as a response to the need of each government," said Dr. Abdul Rahman Al Zamil, Partner of ICDC and Chairman of Al Zamil Group of Companies.