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Industries in Sharjah are increasingly looking at relocating to areas located closer to the airport and other industrial areas situated at the periphery of the emirate.
According to Cluttons’ real estate outlook for Sharjah, this winter, the demand for industrial areas in these parts has also been fueled by the availability of land which are bigger in size and logistical advantages.
Industrial zones such as the Sharjah Airport International Free Zone (SAIF-ZONE) and Al Saja’a Industrial Area provide easy access to the global market through air freight. These clusters, located closer to the other northern emirates, help companies tap into this market by road.
Sharjah’s industrial areas, located in the heart of the emirate, have witnessed significant increase in rents, prompting many of the companies to look for spaces in the peripheral areas which are more affordable.
Demand for warehouses in Sharjah are driven by companies with activities related to general trading, perfumes, supermarkets and car accessories.
Their requirements are mostly for warehouses of sizes ranging from 2,000-3,000 square feet. The annual rent of warehouses in Sharjah’s industrial areas ranges from Dh25-Dh40 per square foot. Increased economic activities and population growth have helped in the uptick of warehouse requirements.
Al Majaz and Al Soor continue to be the favored destinations for offices. Prime spots in the Al Majaz area command an average annual rent of Dh75 per square foot. Al Hind Tower is a new 40-storey office complex which has come up in the same area. The annual rent of this office building is around Dh60 per square foot. Rents of Grade A office space with adequate parking space are expected to shore up gradually. This is because there is a huge market for this segment but not enough supply.
• Sharjah has recently witnessed a high demand for warehouses
• SAIF-Zone, Saja’a area have easy access to the global market
• Al Majaz and Al Soor are favored destinations for office space
Source: S. Dhar, Special to Properties
The writer is a freelancer