PROMISE of A BOOMING LANDSCAPE
The future of investment in Fujairah is promising because of its business climate, infrastructure and geography
Afine blend of strategic location, streamlined procedures and access to a fine port makes Fujairah an ideal investment destination. Known as the fifth largest emirate and the only one to be situated on the Indian Ocean, the city is home to over 190,000 residents.
The mountainous emirate is a popular haunt for tourists from all over the world, especially for those who want to get away from the hustle and bustle of metropolitan life. In 2016, the emirate recorded a 64 per cent occupancy rate with over 7645,000 guests, which demonstrates its popularity as a tourism destination.
Fujairah’s current hotel capacity of 3,000plus rooms is likely to increase to 5,000 by 2020, with the number of hotels increasing from 31 to 38 over in the coming years. As Expo 2020 draws closer in Dubai, hotels in Fujairah are further gearing up to host a large number of tourists looking for recreational activities and heritage sites that the emirate is best known for.
Visitors have a range of historic and natural sights to discover, besides the jagged line of Hajar Mountains. Fujairah Fort, Al-Bidyah Mosque and Al-Hayl Castle give an interesting insight into past lives, while the Wadis such as Wadi Al Wurayah, Siji, Saham, Mai, Ham and Al Tawain offer stunning views and exciting routes to explore. Besides, the emirate is known as one of the main agricultural centres of the UAE, and enjoys favourable climate during most months. It is rich in date farms as well as other types of fresh produce.
From a business perspective, Fujairah has attracted investors in sectors like real estate, marine and aviation among other areas. The Port of Fujairah is juxtaposed next to the free zone, allowing businesses to derive maximum benefit from its strategic location along with access to all Gulf ports, the Red Sea, Indian sub-continent and beyond. The future of investment in Fujairah is promising because of its business climate, infrastructure and geography.
The Fujairah Free Zone is straddled along a key geographic location, with access to the world’s major shipping routes, a modern seaport and airport. The emirate has managed to develop itself as a leading petrochemical, bunkering and storage hub and is considered a strong base in manufacturing, processing and marine-based activities.
A number of sectors have greatly helped the emirate in terms of progress, notably the National Bank of Fujairah. Since its inception in 1982, it continues to serve as a pillar of growth and development. From leveraging its business strengths and market knowledge to introducing new initiatives such as cashless systems, the National Bank of Fujairah is dedicated to the emirate’s success.
Fujairah is a promising city with unlimited potential waiting to be discovered.
— farhana@khaleejtimes.com