Al Khayyat Investments has acquired a 10 per cent stake in Sharjah Investment Centre (SIC).

'Al Khayyat enters new investment areas after evaluating the potential projects under consideration. We found that the SIC offers huge growth potential because of its strategic location and the strength of its promoters,” said Khayyat Investments managing director Amer Al Khayyat. “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, the 3.5 million sqm 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.

SinoGulf, the major stakeholder in the project, facilitated the entry of investors like Al Khayyat Investments.

SinoGulf managing director Hussain Al Awlaqi said: 'Every component of the SIC has been 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 SIC, 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 SIC include 60 metre 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 Mediterranean-style mixed use area offers G + 15 plots and commercial uses.

The Business Park represents an ideal location for companies to establish their local operations and house their administrative offices and regional headquarters. It offers a cluster of G plus 4 plots, with easy access to numerous facilities. – TradeArabia News Service