Sharjah welcomes the New Year with achievements

Sharjah’s diversified economy, with no single sector comprising more than 20 percent of GDP, has helped cushion the local economy from oil price volatility. Supported by government policies aimed at fostering private-sector growth, the emirate’s diversification has helped ensure continued investment into the economy. Aviation, construction, healthcare, manufacturing, real estate, retail and distribution and tourism were stand-out sectors during the past year.

2017 saw investment across multiple sectors of Sharjah’s economy, including government-backed initiatives to encourage global firms, SMES and local startups to locate in the emirate. ‘Invest in Sharjah’, the Sharjah FDI office, expects foreign investment to exceed AED 1 billion (US$ 272m) by year-end.

Tilal City

Tilal City is a first-of-its-kind mixed-use development in Sharjah that offers the unique opportunity to purchase or lease land and build property within the emirate. The city comprises 1,855 land plots, combined with parks, education and community facilities. 100-year leaseholds are available, for the first time, to UAE non-Arab residents. All Arab nationals residents of the UAE can purchase land at Tilal City on a freehold basis.

Sharjah was named World Book Capital for the year 2019 by the Director-General of UNESCO, Irina Bokova, on the recommendation of the Advisory Committee which met at the Headquarters of the International Federation of Library Associations (IFLA) at La Haye.

The city was selected because of the very innovative, comprehensive and inclusive nature of the application, with a community-focused activity program containing creative proposals to engage the very large migrant population.

New Free Zone Initiatives
Launching Sharjah Research Technology and Innovation Park (SRTIP), Sharjah Media City Free Zone (Shams) and Sharjah Publishing City (SPC) in 2016, this year saw the opening of the new 40,000 square metre and royal approval for the master plan for Sharjah Healthcare City. The creation of these new free zones forms part of a wider strategy to help prepare Sharjah’s economy for the fourth industrial revolution by attracting innovative, knowledge-led ventures to Sharjah.

Sharjah Media City will become a world-class hub for media and creativity in the region. Shams’ mission is to make creative entrepreneurship accessible and inspire business growth in the region. The Shams community fosters a vibrant ecosystem for innovation to live, learn and co-create. As a world-class Free Zone hub for innovation, Shams sets the benchmark for service and support to those wishing to set-up and launch their business with specialised facilities for the creative and media industries.