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Sharjah Asset Management, SEWA sign Al Saja'a Industrial Oasis deal

Sharjah Asset Management has signed a memorandum of understanding (MoU) with Sharjah Electricity and Water Authority (SEWA) to provide electricity, gas and water supplies for investors in Al Saja’a Industrial Oasis (ASIO)

Sharjah, UAE.
Sharjah, UAE.

Sharjah Asset Management has signed a memorandum of understanding (MoU) with Sharjah Electricity and Water Authority (SEWA) to provide electricity, gas and water supplies for investors in Al Saja’a Industrial Oasis (ASIO).

According to the agreement, both parties will facilitate the obtaining of electricity, water and gas services by the project’s investors, tenants and main developer.

This includes permit issuance, bill payment, installation programmes and a timeline of electricity connection to each plot of land in ASIO in compliance with the voltage requirements of each plot of land.

The agreement will also help boost the investment environment in Sharjah and increase competitiveness in the industrial, commercial and service sectors of the emirate.

ASIO stretches over an area of 14 million square feet and is comprised of 353 plots for light and medium industrial, mix use, some retail and a large accommodation plot.

Plots in ASIO are available for sale to UAE Nationals, GCC and Arab residents as freehold investments. All other residents may apply for a 100-year Leasehold (Usufruct Right).

HE Waleed Al Sayegh, chief executive officer of Sharjah Asset Management, said: “ASIO offers an extraordinary investment opportunity for UAE Nationals, Arab and foreign investors in various industrial, retail and mix-use projects.

“It is poised to become one of the largest and most advanced industrial parks in the region. Through this MoU, we are looking forward to offering more facilities to help investors start up their businesses and projects rapidly from ASIO.”

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Construction Week - Issue 748
Sep 01, 2019