Press Release

Shurooq promotes Sharjah’s investment opportunities in Italy

January 30, 2011

Shurooq CEO tours major companies and meets senior businessmen and investors in Parma
Al Sarkal was accompanied by Ahmad Al Qaseer, Director of Property Management, Shurooq, on his visit during which he toured major companies and factories in the city, and met with senior businessmen and investors to brief them on investment opportunities in Sharjah and discuss ways of cooperation available between both cities. The visit came upon an invitation received by Shurooq Investment and Development Authority from SPIP (Societa' Parmense Insediamenti Produttivi(, a leading Italian industrial zone, whose 98 percent of its stake is owned by Parma Municipality. Al Sakral met at the beginning of his visit Dott. Arch. Franco Calzolari CEO of SPIP and many high profile representatives. On the first leg of his tour, Al Sarkal visited the headquarters of the Municipality of Parma where he met the Mayor of Parma and his deputy, and discussed ways to strengthen the relations between Sharjah and Parma, and make the best use of opportunities between the UAE and Italy. They also discussed ways of cooperation in the field of food industries to benefit from the vast and prestigious experience that distinguish Parma, which became the permanent seat for the European Food Safety Agency (EFSA) in 2003. Italy is the UAE's second largest European trading partner after Germany, whereas the total volume of trade exchange between them reached $30 billion in2008, and then fell by 24% in 2009 due to the global financial crisis. The volume of Italian exports to the UAE constitutes 85% of the value of trade exchange between the two countries, while UAE exports to Italy represent 15%. Parma is located in northern central Italy in the Emilia-Romagna region with a population of approximately 200,000 people, and hosts a number of major companies and important factories in Italy as well to a large number of businessmen, investors and prominent figures. Parma has become the permanent headquarters for the European Food Safety Agency (EFSA) since 2003. The delegation held a press conference at Parma Municipality building that included company representatives, businessmen and investors in Parma. It gave a presentation on the most important industries and future investment opportunities in Sharjah. Al Sarkal held an informal meeting with Luigi Amato Molinari serves as the President of the I.C.C.R.I. - Banca Federale Europea, and discussed ways to develop the relations and joint cooperation. The delegation also visited a number of large companies in Parma, including a number of free zones and factories. Among them the delegation visited the Ferrari Factory and Dallara Factory, during the visit Al Sarkal met with the Chairmain and founder of Dallara Eng. Gianpaolo Dallara and Andrea Pontremoli its current CEO and partner, finally the group paid a visit to Pagani Automobili and met with its founder and CEO. As part of the visit, the delegation visited prestigious Italian noble family Dalla Rosa Prati the city of Parma, which has close ties with a number of royal families in Europe and has invested successfully in luxury heritage hospitality industry. During the meeting, Shurooq Chief Executive Officer gave a detailed presentation explain on investment projects in Sharjah, especially the Heart of Sharjah heritage project on which construction work has begun recently. Later, the delegation met Prince Diofebo Meli Lupi di Soragna at his palace where they discussed ways of cooperation in the field of alternative energy, whereas the prince is participating in many alternative energy projects in Italy and Europe. The delegation also visited the palace of Count Orazio Zanardi Landi as the family expressed great interest in heritage projects and identifying the Heart of Sharjah Project. Al Sarkal invited the Count to visit Sharjah to identify investment opportunities and discuss them on the ground. The delegation has also visited Sansiro stadium to attend Milan Vs. Parma match and met with Inter Milan club's CEO Paolillo and the son of club's owner Massimo Moratti. At the end of the visit, Al Sarkal exchanged mementos with Parma's Mayor, SPIP Chief Executive, and the Chief Executive of Inter Milan Club. The delegation's visit to Parma received considerable attention from the Italian media whereas Al Sarkal was interviewed by a number of newspapers and Satellite TV Channels.
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