Press Release

Shurooq promotes Sharjah at New York University

June 7, 2011

International Hospitality Industry Investment Conference
The three-day conference - regarded as the world's premier conference dedicated to the hospitality industry - is being attended by more than 600 participants, including industry leaders and decision makers, businessmen, investors, and professionals from around the globe. Shurooq's delegation includes Ahmad Obaid Al Qaseer, Chief Operations Officer and Elie Armaly, Business Development Director. Highlighting the importance of this conference, Al Sarkal said: "Shurooq's participation in the event is aimed at promoting available investment opportunities in the emirate's hospitality sector and marketing these opportunities in the international arena, which is in line with our strategic goal of placing Sharjah on the world's business and tourism map, as well as negotiating with a number of international hotel operators on the possible partnerships in future hotel projects in the emirate. "The event also offers great networking opportunities and serves as an excellent platform for highlighting Sharjah's unique diversity of tourist attractions and rich elements. Our participation here forms part of Shurooq's ongoing efforts to promote the emirate of Sharjah as an investment destination of choice." Al Sarkal stated that meetings were held with the heads of participating delegations, representatives of hotels, travel and tourism agencies, as well as with investors, on the sidelines of the NYU conference. These meetings were focused on opening new vistas of cooperation and investment within the emirate's hospitality sector, updating all parties on the significant developments seen by the emirate's tourism sector, as well as Shurooq's various projects and developments, which has helped make the tourism industry a landmark economic sector. The delegation also discussed a number of issues related to common interests, including recent changes and trends in the industry, alternative investments, and sources of finance available globally, with other participants. Several sessions and symposiums highlighting hotel investment in order to get to know the global status of the tourism industry, and the hospitality sector in particular, as well as their effects in the world and the Middle East, were also attended. 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. The Authority aims to encourage investment by adopting the best international standards in providing quality services that help attract investors from around the region and the world. Its key mission is to provide necessary facilities and incentives, overcome obstacles facing investment activities in the emirate, evaluate tourism-related infrastructure projects, and put in place the necessary plans to complete such projects. Shurooq is currently involved in executing nine exceptional projects in the emirate, including Al Majaz Waterfront, the Heart of Sharjah, Khorfakkan Resort and Spa project and another hotel planned in the Heart of Sharjah, both were announced during the Arab Travel Market (ATM) 2011. These projects will be completed by 2015.
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