Fujairah Commercial Directions
In recent weeks some significant announcements have highlighted the key business directions for the emirate of Fujairah.
These announcements have included the development of cement plant, new oil and gas pipelines with expanding terminals and new hotels and resorts being opened.
Earlier this month at the opening of the new headquarters of the Al Taif in Fujairah some new opportunities were announced:
* Tourism projects
* Industrial ventures including an aluminum plant (Dh300m) and a gypsum board factory (Dh45m).
* Business Projects including the establishment of the Fujairah Business Park (at Dh650m-750m a project consisting of two towers with offices, apartments, hotel rooms and shopping mall—this will be located next to the Al Bustan ballroom at Hamad bin Abdullah Street) and The Market (a Dh2bill investment involving housing facilities, business areas, and a shopping, entertainment and cultural complex).
Fujairah No Longer Overlooked
Khalid Kalban, Chairman of Al Taif Investment, which is a joint venture between Dubai Investments and Fujairah Investment Establishment (FIE), admitted that the emirate of Al Fujairah had largely been overlooked and investors stood to realise significant gains by seizing opportunities in Fujairah. He said. “While the UAE continues to grow, the business potential of smaller emirates such as Fujairah remains largely untapped.”
Source: Salah Al Deberky, ‘Dh2.5b Real Estate Projects Launched in Fujairah’, Khaleej Times, 6 March 2008;
Dr. Geoff Pound
Image: “The emirate of Al Fujairah had largely been overlooked…”