Page 3 - Al Tijarah - September 2020
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Editorial Message

                Covid-19 is still posing a significant threat all over the world. The pandemic’s impact on the global economy is tremendous. The
                economic damage caused by the novel coronavirus is largely driven by a fall in demand, that is there are no consumers to purchase
                a lot of goods and services in the global economy. World Health Organization (WHO) on the other hand, is warning countries
                from rushing to lift restrictions designed to contain the pandemic which would risk even worse economic damage.

                The UAE is from the few countries that have early made wearing masks outdoors a mandatory requirement for all people.
                Spokesman for the UAE National Emergency Crisis and Disease Management recently announced that the authorities would
                seek to contain the virus in localized hotspots, instead of imposing tougher nationwide restrictions. However he did not exclude
                the possibility of return of the National Sterilization Programme, which would involve nighttime lockdown, if recent spike in the
                number of infections persists. People need to comply to the health guidelines such as properly wearing the masks, observe social
                distancing and avoid large gatherings in order to avoid return to nationwide lockdown.
                Related to this is the recent reopening of schools in the UAE. The Ministry of Education issued measures in this respect including
                temperature checks for all students and staff, social distancing of 2 meters which means less capacity in classes and buses. Classes
                and other school premises to be regularly sterilized, meals not to be shared, assemblies and school trips to the suspended.

                In this issue of Al Tijara we learn that despite covid-19, new memberships of Sharjah Chamber of Commerce and Industry in the
                first quarter of this year recorded 7 percent growth in comparison of 2019 figures. We will also read that the recent Sharjah
                Shopping Offers festival achieved remarkable success and represented a positive boost to the Emirate’s retail sector, realizing
                revenues and sales exceeding AED 600 million.

                In the real estate field, we will read that Arada Development Company awarded a contract worth AED 423 million for the
                construction of East Village, the second phase of Jada project. We will also read the announcement of Sharjah Real Estate
                Registration Department that real estates dealings in Sharjah duing the first half of this year totalled AED 6.2 billion.

                In this issue we will read of Bee’ah’s plans to convert a 47 hectare landfill into a solar energy facility. This project, the first of its
                kind in the region, will generate more than 42 megawatts of energy per year.

                Read the above and many other stories in this September issue of Al Tijara.

                Happy Reading!

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