Page 8 - Al Tijarah - December 2019
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came supported by being part of the UAE.   of its residential and industrial areas,   developers. In addition to its share of
         The decrease in the overall exposure of   and the strategies that have begun to   VAT, the expected rise in real estate
         the country to external risks, confirms the   be implemented during the past period,   and commercial activities associated
         realization of the vision of His Highness   will further strengthen the stability of   with Dubai's  hosting of  Expo 2020,
       48  Sheikh Sultan bin Mohammed Al Qasimi,   expected growth, and perhaps it will   confirmed that Sharjah will benefit from
         Member of the Supreme Council, Ruler
                                           achieve greater growth rates than
                                                                              this exhibition at different levels.
         of Sharjah, to be very active in achieving   expected, according to the region's
         long-term goals and strategies.   conditions and stability. The agency noted   With regard to public debt and
                                           that the political stability enjoyed by the   government expenditures the agency
         The Agency  pointed  out  that  Sharjah’s   state plays an active role in the emirate's   said that public debt remains at moderate
         economic base, which is distinguished   ability to easily achieve its planned goals.  rates,  as well  as  limited  financial risks
         from many other countries at the                                     associated with government-affiliated
         regional level, is diverse and sustainable,   Standard & Poor's expects the   companies.  The  agency predicted that
         stressing that its expectations associated   financial position of Sharjah to improve   the financial deficit of Sharjah will decline
         with the stability of GDP growth of the   significantly in the coming years, noting   to  2.7%  between  2019  and  2022,  and
         Emirate, comes from the remarkable   that the government's consolidated   that the flexibility of the economic base
         increase in investments. In addition,   financial returns will grow thanks to   of Sharjah has enabled it to deal with the
         the large expansions taking place in   the  expected increase in payments   volatility  experienced  by some  sectors
         Sharjah’s free zones, such as Al Hamriya,   for  companies  and  government-  by compensating them  with significant
         government  plans to  restructure  some   affiliated institutions, and land sales to   growth in others.

               Arada hits 5,000 unit sales as interest in

                                      New Sharjah grows

         Arada has sold 5,000 units – two and a
         half years after it launched its first project
         – boosted by its 2019 sales performance;
         strong  demand in its investor-based
         products; and rising interest in ‘New
         Sharjah’, where its communities are based.

         Construction at Arada’s two communities,
         Nasma  Residences  and Aljada, are
         on  schedule, the developer said in a
         statement, with the first homes in Aljada
         – Sharjah’s largest mixed-use real estate
         project –  expected to  be handed over
         in the Q1 2020, and delivery of all five
         phases of Nasma Residences due in Q2
         2020.                             investor-friendly  products  such as Nest,   investment of  10% annually for a 10-
                                           the student housing complex based within   year period, Nest has already witnessed
         In  September 2019,  Arada  announced   the 223ha  Aljada megaproject, which   success since its launch, and is now almost
         that its sales in the first eight months of   enables individual real estate  investors   sold out.
         the year were up by 30% compared to   to purchase directly in this lucrative asset
         the  same  period in 2018. The  results   class for the first time in the Gulf.  Commenting on the milestone  of 5,000
         were driven by the strength of the                                   unit sales, chairman of Arada, HE Sheikh
         Sharjah market and  release  of  new   Offering  a guaranteed return  on   Sultan bin Ahmed Al Qasimi, said:
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