Press Release

Shurooq meets with RAK Investment and Development Office

February 8, 2014

Cross-emirate collaboration key to ensuring sustainable growth
The meeting took place between HE Sheikh Omar bin Saqr Al Qasimi, Executive Director at Investment and Development Office, Government of Ras Al Khaima and HE Marwan bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq) at Shurooq's headquarter in Sharjah. HE Sheikh Omar bin Saqr Al Qasimi, Executive Director at Investment and Development Office, Government of Ras Al Khaima, remarked, "Communication and collaboration between the entities charged with developing the UAE's seven emirates are vital if we are to achieve both our individual and collective goals. Ras Al Khaimah and Sharjah both have a great deal to offer potential investors and by strengthening our ties and ensuring open and transparent channels of communication, our two emirates can create a synergy that will result in an offering that is greater than the sum of its parts. We have a great deal to gain from exchanging experience and expertise and look forward to working together even more closely in the future." HE Marwan Al Sarkal, CEO of Shurooq, commented on the meeting saying, "As an entity our mandate is to find ways in which to develop Sharjah, yet we are also very aware that Sharjah does not exist in isolation. It is inextricably linked to each one of the other emirates and ultimately our greatest wish is to see the entire UAE grow and flourish - on all levels. As a nation we are strongest when we stand together, and this is just as true from the perspective of governmental and non-governmental authorities and organisations. Through meetings such as this one with our esteemed colleagues from Ras Al Khaimah, we want to ensure that strong bonds of cooperation are forged and maintained, so that we may all share in the many successes still to come." Shurooq CEO clarified that the Authority's key mission is to provide the facilities and incentives that are needed to negate any obstacles that might face investment activities in the Emirate of Sharjah as well as to develop projects that would attract investors to Sharjah. Shurooq made use of this opportunity to give their counterparts in the RAK Investment Development Office a detailed overview of the Authority's aims and objectives, as well as the numerous development projects that Shurooq currently has underway. Al Sarkal gave a brief introduction on Shurooq's completed projects, including Al Qasba, which includes the iconic Etisalat - Eye of the Emirates, the Masrah Al Qasba Theatre, and the Maraya Art Centre; the Al Majaz Waterfront and its accompanying Maraya Art Park; as well as the Flag Island, which is still set to undergo further development. He further gave an overview of a the extensive range of projects that Shurooq currently have under development including the five-phase 15-year historical restoration project, the Heart of Sharjah; Al Jabal Resort - The Chedi Khorfakkan, which is set to become the most luxurious resort destination in the Emirates; the ambitious three-phase Kalba Eco-tourism project, the largest project of its kind in the development Eco-tourism facilities in the UAE and the region; the development of Al Hisn Island in Dibba Al Hisn, which is aimed at stimulating and encouraging economic development in the Emirate's eastern region; and the most recent addition - the soon to be open Al Montazah Park, which includes an amusement park that offers a host of electronic games, a recreational park catering to outdoor activities such as picnics, and a one-of-its-kind waterpark. Shurooq was established in 2009 with the aim of achieving social, cultural, environmental and economic development on the basis of Sharjah's distinct Arab and Islamic identity, and to encourage investment by adopting the best international standards in providing quality services that help attract investors from the region and around the world. Shurooq's key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in the Emirate, evaluate tourism and investment related infrastructure projects, and lay down the necessary plans to complete such projects.
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