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Summary Dubai-based Pakistan developer group announced the launch of the Sharjah Auto Park project.
Giga investments, Dubai-based Pakistan developer group announced on Sunday the launch of the Sharjah Auto Park project, a joint venture with the leading Saudi developer, Al Hanoo.The Sharjah Auto Park, involving a total investment of Dh1.5 billion, has been designed to facilitate a state-of-the-art automobile business hub that suits all automobile industrial requirements of the UAE, one of the most vibrant markets for the automobile sector in the GCC.Amir Pardesi, chairman of Giga Investments, which has track-record in real estate development in both the UAE and Pakistan, said the project would provide “unparalleled business opportunities” to all areas related to the automobile industry.“Sharjah Auto Park, located on Al Abir by-pass, is the first of its kind in the world. The automobile industry in Sharjah is one of the fastest growing segments and this facility is designed and developed to meet the growing needs of the auto industry,” he said at a Press conference.According to industry estimates, the GCC countries have around eight million vehicles, including 2.8 million in the UAE, a central port of automobile supply in the region. As a key automobile export destination of Europe, the US and Japan, the UAE re-exports merchandise to the GCC, Pakistan, India, Afghanistan and emerging markets in Africa.Amir said the Sharjah government has been a leading facilitator for providing the new opportunity to the auto trade. “Abu Shagara used to be the hub for the automobile industry in Sharjah. There were around 600 dealers as well as service providers operating from this area. Since the location was causing innumerable hardship for the residents, Sharjah Municipality enforced strict rules to regulate the industry.Sharjah Auto Park will meet the long-felt need for a single point hub for all activities related to the automobile industry. The project will serve entrepreneurs across all segments of auto industry sectors locally as well as internationally. In short, Sharjah Auto Park is the solution for a long-felt need,” he added.
