Leading property developer Snasco has launched what is claimed to be the first mixed-use industrial development in Sharjah.

Known as the Sharjah Investment Centre (SIC), the 32 million sq ft project, situated on the Emirates Road near the Sharjah International Airport and Hamriyah Port, will include large industrial, commercial and residential communities.
The SIC has been designed to provide investment and logistic services to Sharjah’s economic sector.
Snasco, a Saudi property development and investment company, will lead a joint Saudi/Emirati alliance to invest and implement the project, estimated to cost between Dh1.5 billion and Dh2 billion ($408 million and $545 million).
Due to the large scale of the venture’s large scale, joint venture intends to set up a new company under its supervision and management to ensure that the development is managed professionally and efficiently. This new alliance will include well-known and leading organisations from the investment and real estate sectors across the GCC.
Saleh N Al Sorayai, chairman of Snasco that develops markets and supervises SIC, says: “We are pleased to invest in this huge project that has given us the opportunity to present something distinguished to the UAE and Sharjah in particular.”
“The SIC, with its services, represents a new addition to the economic investment rules of Sharjah that were established by Sheikh Dr Sultan bin Mohammed Al Qassimi, member of Supreme Council and ruler of Sharjah,” he adds.
The project includes storage areas, labour accommodation, logistic support areas, and a special area for light and medium industry. Additionally, there will be hotels, leisure services and a commercial centre.
The residential area has special housing units that are expected to set new standards of accommodation for all levels of employment, from managers to labourers, and features lush landscaped gardens and walkways. The facility’s design is expected to result in the saving of time, effort and transportation costs.
The storage area of this project will present many features for owners of factories and companies, which will allow for them to benefit from the centre’s location on the Emirates road, which is one of the main roads near to Sharjah Airport and Hamriyah Port.
Snasco announced this development shortly after the launch of the West Bay tower project in Business Bay in Dubai and Al Basateen project in Sharjah, which is a commercial and residential environment that includes more than 350 units.
“The projects were initiated after conducting several in-depth feasibility studies on the local market and its requirements,” he concludes.