Sharjah Airport International Free Zone (SAIF Zone) has signed an investment agreement with a globalized multinational business group, TORRECID to enhance the later’s operations in the region.
The Spanish group will lease three state-of-the-art warehouses extending over an area of 20,000 sqft under the deal, making it the first headquarters of the group not only in the UAE but also in the GCC countries.
This represents the potential of the SAIF Zone to draw foreign direct investment through strategic economic sectors and also strengthens its status as one of the Middle East’s fastest-growing free zones.
Established in 1936, the multinational business group aims to expand its global operations. It currently operates in 28 countries, with clients in more than 130 countries. It has opted for Sharjah to be its regional headquarters to further enhance its global operations and strengthen its presence in the Asian, African European, and American markets.
“TORRECID’s decision to base its regional operations in Sharjah is yet another testament to the emirate’s good reputation, which has grown to become a regional and international hub for doing business. It also reflects global investors’ trust in the emirate and SAIF Zone in particular thanks to its unique environment, competitive services, facilities, and above all the wise directives and vision of HH Dr. Sheikh Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. Backed by a world-class infrastructure, SAIF Zone provides more than 2,000 modern warehouses that perfectly meet the needs and requirements of all investors in addition to offering competitive advantages and logistical services coupled with topnotch facilities that all serve as a magnet for foreign direct investment.”
“With TORRECID becoming a new investor in the free zone, we are sure it will help strengthen Sharjah’s position as a favored destination and business center for global and regional investments in the industrial sector,” added Mr. Al Mazrouei.
Jose Nacher, Branch Director of TORRECID said, “Moving in line with our strategic goals to expand into the global market and reach out to a larger segment of customers in promising markets, we have chosen to base our regional operations in SAIF Zone thanks to its unique facilities, services, and infrastructure. We are looking forward to a new chapter of growth launching from the Emirate of Sharjah, which is known for its business reputation in the global markets.”
Sharjah Airport International Free Zone
SAIF Zone, the Middle East’s oldest, largest and fastest-growing free trade zone, is renowned for delivering quality services in line with the UAE leadership’s forward-looking policy. It has invested heavily in the country’s ability to turn it into a global business hub.