Al Khayyat Investments has acquired a 10 per cent stake in Sharjah Investment Center (SIC), the 3.5 million square meter project that is considered one of the region’s most significant property developments.
"Al Khayyat Investments enters new investment areas after evaluating in due diligence the potential projects under consideration. After careful evaluation, we found that Sharjah Investment Centre offers huge growth potential because of its strategic location and the strength of its promoters,” said Amer Al Khayyat, Managing Director of Khayyat Investments. “We are proud to be associated in this development and we look forward to a fruitful relationship with the centre and SinoGulf, the major stakeholder in the project.”
One of the UAE's biggest projects and the very first in Sharjah, Sharjah Investment Centre consists of residential, commercial and industrial plots carefully planned by SNASCO, the region's leading real estate and development firm. Strategically located between Emirates Road and the new Pan Emirates highway which is under construction, the SIC has easy access to and from all parts of UAE, and it is located just a few minutes away from major airports, sea ports and free zones.
The entry of investors like Al Khayyat Investments was facilitated by SinoGulf, the major stakeholder in the project.
Hussain Al Awlaqi, Managing Director, SinoGulf, said: "Every component of the SIC has been master planned specifically with convenience and growth in mind. A self contained development, the SIC provides a wide array of superior facilities and amenities. As the investment body and main stakeholder of Sharjah Investment Center, we are pleased to have a strategic partner as Al Khayyat Investments to help us further grow the project with a far sighted vision and strategic approach. We share Al Khayyat’s values and vision and we think that the entry of a holding company will definitely add value to SIC.”
The key features of Sharjah Investment Centre include 60 meter wide roads, state of the art infrastructure and telecommunications links, reduced energy costs through district cooling, high level of security, green areas and parks, community facilities of schools, recreational and sporting facilities, retail areas of grocery stores and general merchandise.
The Sharjah Investment Centre’s unique Mediterranean-style mixed use area offers G + 15 plots and commercial uses. Embodying the concept of "live- work and play" environment, the SIC's mixed use development can encompass an abundance of outstanding facilities such as furnished apartments, retail outlets and recreational centers.
Designed to boost business activities, the SIC's Business Park represents an ideal location for companies to establish their local operations and house their administrative offices and regional headquarters. Apart from assuring returns to investors, SIC also focuses on making business a true pleasure. The business park offers an enchanting cluster of G plus 4 plots, appropriately complemented by easy access to numerous facilities.
SNASCO is developing SIC’s diverse portfolio of landmark properties and expansion plans. SNASCO focuses on real estate developments and investments based on long term planning and international standards guaranteeing the highest revenues while at the same time maintaining the Arab heritage and preserving the environment. SNASCO continues to grow investments by investing in creative, practical and modern real estate developments and strategic partnerships while adhering to regional cultural values.
