Business & Money | Tuesday 27 September, 2016 1:39 pm |

Tilal Properties - a leading Sharjah-based real estate and property developer - has announced that it is sponsoring the Sharjah Foreign Direct Investment Forum (Sharjah FDI 2016), which commences today (Wednesday) at Al Jawaher Reception and Convention Centre, Sharjah.

Organised by Sharjah Investment and Development Authority (Shurooq) in collaboration with the UK’s Financial Times newspaper, the two-day forum will bring together more than 300 policy makers, government officials and economic experts from across the world.

Tilal Properties explained that its sponsorship of Sharjah FDI 2016 is predicated on the forum’s significance as one of the region’s premier economic events that addresses the latest developments and most prominent issues relating to investment, finance and business in the local, regional and international spheres.

“Tilal Properties views Sharjah FDI 2016 as a valuable opportunity to solidify Sharjah’s economic position – this is why we decided to be directly involved in it through sponsorship. Our involvement in the forum aims to highlight it as a unique event and one that reiterates the emirate’s high profile image and economic potential,” said Khalifa Shaibani, Director General, Tilal Properties.

Sharjah FDI 2016 will feature several sessions and panel discussions that that elaborate on a host of key economic topics; including the post-oil economy, supporting small and medium-sized enterprises (SMEs) and ways of strengthening UAE ties with economic partners. The forum will also highlight the importance of effective legislation in order to attract investment. 

Shaibani added: “Sharjah has established itself as a significant regional destination and one that attracts businesspersons, investors and companies from across the world. The emirate’s business-friendly environment and stability is underpinned by its strong legislation that protects investors and facilitates their requirements and operations. Included in this legislation is the law issued in November 2014 that for the first time allows foreign expatriates to buy properties in the emirate on a 100-year leasehold basis.

Shaibani said that Sharjah’s new property law has encouraged property transactions in Sharjah and helped attract more real estate buyers to the emirate. He continued; “Tilal Properties was the first developer to benefit from this rule as it announced its debut project (Tilal City) immediately after the issuance of the new law. Tilal City offers GCC nationals and residents of Arab countries the opportunity to buy freehold property and offers a 100-leasehold arrangement for foreigners. We are looking forward to leveraging the full potential of the law to expand the scope of our business and launch even more exciting projects in the future.”

The AED 2.4 billion Tilal City is a first-of-its-kind mixed-use community in Sharjah that spreads over 25 million square feet. Strategically located on the Emirates Road close to Al Dhaid interchange, the Tilal City project aims to create a sustainable urban community spanning four main areas, with its residential buildings, villas and homes connected by green spaces and pathways and surrounding a central park. Tilal City will also house Tilal Mall, which is billed as Sharjah's biggest upscale commercial and retail destination. The AED 1 billion shopping and lifestyle centre, which will stretch across an area of 2 million square feet, was unveiled by Tilal Properties during its participation in Cityscape Global 2016.   

The Sharjah FDI Forum 2016, held under the patronage and presence of His Highness Sheikh Dr. Sultan bin Muhammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, aims to offer an unrivalled opportunity to examine the outlook for investment in the UAE and Sharjah specifically. It seeks to highlight opportunities available in the emirate’s various economic sectors and will host the participation of an elite group of global policy makers, officials and economists.