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Fujairah, one of the seven emirates of the UAE, has flourished commercially in recent years, thus witnessing rapid economic growth and even emerging as a global energy hub.
One of the emirate’s major economic growth drivers is the Port of Fujairah, one of the top three bunkering destinations in the world. Aside from the different facilities and services that the port offers to businesses in the maritime and related industries, it also serves as the “landing point” for the Habshan-Fujairah crude oil pipeline. There are also other plans in the port that are in line with the vision of turning the tiny emirate into an energy hub, including creating more refining capacity, and re-gasification facilities for petrochemical and liquefied natural gas (LNG).
Another huge contributor to the emirate’s growth is the Fujairah Free Zone. With its establishment, the commercial activity in the emirate has improved to a great extent. The zone offers several business solutions including warehouses, land, flexi-desks, virtual offices and custom-built office units. Businesses that choose to set up in the free zone have the advantage of being close to the port and airport, and having easy access to other parts of the country like Dubai.
Tourism also plays a big part in this part of the country. Fujairah’s blue waters, beautiful sandy beaches, historical attractions and archaeological sites are big draws among tourists and visitors, attracting real estate developers to develop a number of hospitality projects in the area.
The emirate’s industry sectors such as communications, engineering, trading and manufacturing have also observed a steady increase in foreign investors.
In terms of medical facilities, a range of hospitals provide residents with standardized clinical services and nursing care across numerous specialties.
• The emirate of Fujairah is promoting itself as a global energy hub
• Its huge economic driver is its port, a top bunkering destination
• Its beaches and archaeological sites are popular tourism draws
Source: Mrudvi Bakshi, Special to Properties
The writer is a freelancer