Sharjah Asset Management, the investment arm of the emirate's government, has announced the launch of one of the region's largest industrial projects to be built on nearly 14 million sq ft of land in the emirate.

The Al Saja’a Industrial Oasis will come up on Emirates Road (E611) in close proximity to Sharjah International Airport and Al Hamriya Port.

The project comprises 353 units of real estate and industrial mixed-use plots, said a statement from Sharjah Asset Management.

Of these, 220 are for light industries, 45 for medium industries, 84 for commercial and mixed-use projects, 33 for retail units in addition to one unit dedicated for staff accommodation.

The launch was held under the patronage of Sheikh Mohammed Bin Saud Al Qasimi, the chairman of Sharjah Asset Management in the presence of major investors from the UAE.

The project is part of Sharjah government's long-term plan for development of the industrial, real estate and commercial sectors.

Opening sales for the first stages of the project, the launch of Al Saja’a Industrial Oasis came in response to serve the growing industrial investment demand, it stated.

The plots are likley to be handed over by October 2016, it added.

It is located in one of the largest industrial areas owned by the Sharjah government, said the statement from Sharjah Asset Management.

Al Saja’a Industrial Oasis, which enjoys the government's backing, aims at encouraging the relocation of industrial tenancies from the city’s industrial areas to master planned industrial park communities mainly to relieve congestion in the city’s residential and inner suburbs.

The move is aimed at creating urban planning opportunities with an easy access through Emirates Road (E611) and Sharjah utility Sewa's commitment for delivery of electrical load and network on project completion.

Characterized with a strategic geographical location, Sharjah is fast becoming an ideal hub for substantial industrial projects, and a landmark for the development and prosperity of various industries.

Sharjah International, the first airport to open in the UAE in 1932, is presently the third largest Middle East airfreight hub in terms of cargo tonnage, handling 586,195 tonnes in 2015, posting a 16.1 per cent increase year on year, said Sharjah Asset Management in its statement.

The emirate also saw the first industrial projects in the UAE having the best standards to attract major industrial developments, with a dedicated industrial area and one of the largest industrial clusters in the country, it added.-TradeArabia News Service