The Sharjah Investment and Development Authority (SHUROOQ) signed a memorandum of understanding (MoU) with DOHALAND Hospitality, a subsidiary of AMLAK Holding. The aim of the agreement is to boost bilateral relations and mutual cooperation by establishing joint ventures for the development of projects by both parties.
The signing ceremony took place at Qatar National Convention centre in Doha and was attended by Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (SHUROOQ) and Ahmed Al Hajaji, CEO of AMLAK Holding. The MoU was signed by Marwan bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (SHUROOQ), and Abdul Aziz Al Emadi, CEO of DOHALAND Hospitality, on behalf of their respective organisations in the presence of a number of senior officials from both parties.
According to the MoU, the parties agree to jointly evaluate potential investment opportunities and to invest in a number of tourism development projects that are currently being developed and managed by SHUROOQ.
Sheikha Bodour bint Sultan Al Qasimi expressed her satisfaction with the move, which will expand business and investment cooperation between Qatar and Sharjah while helping to serve the common interests of both parties. She acknowledged that it is in line with SHUROOQ's goal of exploring new avenues of cooperation and promoting the Emirate's various offerings with the aim of boosting its position as a distinguished business and investment hub in the region.
Speaking on the occasion, Sheikha Bodour Al Qasimi said: "Sharjah is witnessing dynamic development and remarkable growth in various sectors. The tourism sector in particular, which is projected to expand by 12% by 2016, benefits from exceptional support and encouragement. This MoU will aid both SHUROOQ and DOHALAND's approach to developing investment projects across a range of vital sectors, and will help deliver niche tourism projects to boost the emirate's position on the global tourism map, particularly as DOHALAND boasts a long and rich history in the tourism and hospitality sector." Al Emadi said in a statement that the cooperation covers many areas of mutual interest, which will be beneficial to all parties: "We are delighted with the signing of this MoU, which will see DOHALAND help support and develop tourism infrastructure in the emirate of Sharjah, an emirate that is experiencing economic prosperity across various sectors." He lauded the agreement by saying that it supports GCC economic integrity, and concluded: "We are a proud member of AMLAK. Through this partnership, we will take another step forward by developing and implementing the latest tourism initiatives in alliance with SHUROOQ." In turn, Marwan bin Jassim Al Sarkal commented: "This agreement will see the building of joint ventures on a solid foundation, a win-win situation for both SHUROOQ and DOHALAND. It will also pave the way for broader investment opportunities and for developing tourism, an important contributor to Sharjah's economy. We are pleased to be collaborating with DOHALAND Hospitality in developing operations and in activating the role of tourism, business and other growth sectors in the Emirate." DOHALAND Hospitality is a leader in the hospitality sector. The company manages, develops and launches hotels and hospitality projects, with a particular focus on investing in renowned hospitality brands and niche hotel properties. The organisation is structured to expand its business interests within the hotel and hospitality sector through allied infrastructure investments within Qatar and the international market.
SHUROOQ was established in 2009 with the aim of achieving social, cultural, environmental and economic development on the basis of Sharjah's distinct Arab and Islamic identity, and to encourage investment by adopting the best international standards in providing quality services that help attract investors from the region and the world.
SHUROOQ's key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in the Emirate, evaluate tourism and investment related infrastructure projects, and lay down the necessary plans to complete such projects.