Project Name

:

Sharjah Investment Centre –SIC-

Project Location

:

Al Zubair- Emirates Road-

Country

:

United Arab Emirates.- Sharjah-

Developer

:

Snasco Real Estate Development Co.

Plot Size

:

32 Million Sq./Ft.

Completion Date

:

Phase 1

Phase 2

Phase 3

Dec 2008

Feb. 2009

June 2010

Phase 1

Phase 2

Phase 3

Land Type

Average Size Sq/Ft.

Price Range AED per Sq/ft.

Average Size Sq/Ft.

Price Range AED per Sq/ft.

Average Size Sq/Ft.

Price Range AED per Sq/ft.

Business Park

18,987

124-180

12,630

185-228

0

0

Community Facilities

10,773

124-157

81,695

105-118

75,890

103-130

Industrial

23,593

50-80

41,600

84-107

45,947

125-160

Mixed-Use

24,989

220-280

17,100

314-416

17,970

452-588

Prestige & Showrooms

23,195

75-90

39,930

104-126

57,340

160-200

The Project

:

Sharjah Investment Centre (SIC) offers residential and commercial plots, a business park and industrial land across 32 million square feet in Sharjah.  It is being developed with the help of consultants Cansult Maunsell Aecom and under the guidance of the Sharjah Directorate of Town Planning and Survey.

SIC consists of 723 plots. SNASCO, the master developer, launched Phase 1 in 2007, Phase 2 released in January 2008 and Phase 3 released in Oct. 2008.

The infrastructure development of SIC entails  grading and levelling, sewerage and drainage network, a potable water network, a district cooling network, a power network, a telephony network and a road network.

SIC operates with a reduced dependency on the Sharjah Municipality's infrastructure. It is the first development in Sharjah to integrate a self-contained district cooling network.

Moreover, through the sewerage treatment plant, SIC can supply "grey water" to the district cooling plant – reducing its requirement for potable water and at the same time, providing relief to the treatment plant at Hamriya.  The "recycled grey water" can then be used for fire-fighting services and for an irrigation system to sustain the green areas of the development.

SIC

:

SIC is an innovative community concept with residential and commercial land (G +15), a business park (G+4), and industrial as well as warehouse and labour accommodation plots across 32 million sq ft.

Snasco Real Estate Development Co., responsible for master development of the project as well as the sales and marketing, is currently focusing on the sale of Mixed Use plots, with each starting from 8,900 sq ft and commercial plots, starting from 10,200 sq ft. Community facility plots are also an offer, with existing customers including clinics.  The initial phase of industrial plots was sold out in phase 1and 2 and additional plots are being prepared for sale on Phase 3.

Among the attractive elements of the project are the high potential rates of returns, as well as the interest-free, relaxed payment schedule.

Structure

:

The project is a world-class development featuring a harmonious balance of residential, commercial and industrial plots. This integrated hub has the following areas: Business Park, Community Facilities, Industrial, Prestige Industrial, and Labour Accommodation, Mixed-Use: Residential & Commercial and Staff House.

Feasibility

:

SNASCO contracted JAS Consultants to conduct feasibility studies on the project, and among the indicative results are that both a mixed use land development or a commercial one are estimated to generate double digit annual IRR. Similarly, returns for the industrial and Community Facilities investments have shown to be high in simulated models.

Facilities

The Project is a world class development featuring a harmonious balance of residential, commercial and industrial plots, making it the most desirable community and a regional benchmark for other developments to follow:

• Traffic management, with some roads designed up to 60 meters wide.
• Large green areas and parks, as well as religious centres will be developed.
• Centralized district cooling to help manage energy costs.
• Community centre – recreational and sporting facilities and health club.
• Food area – labour and management.
• Retail areas – grocery stores and general merchandise.
• Business centre – courier services, travel agencies, car rental companies, miscellaneous services etc.
• Ample parking spaces.
• Regular maintenance and hygiene services.
• Hi – level security.
• Highly developed infrastructure and telecommunications links.