Shajrah’s economic development indicators achieved growth in Q3

Sharjah Economic Development Department (SEDD) confirmed that the emirate’s economic development indicators achieved remarkable growth in the third quarter of 2024, as the total number of issued and renewed licenses in Sharjah reached 17,981 ones, with a growth rate of 16 per cent during such period.

Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD, said that the data issued by the Department confirms a noticeable increase in investment activity, which are indicators that point to sustainable growth in the economy of the emirate. He added that these figures reflect the confidence of business sectors in the investment opportunities available in Sharjah.

SEDD Chairman explained that the movement of business licenses during the third quarter confirms the strength of the local economy and the attractiveness of the investment environment, and these are indicators of sustainable growth in the economy of Sharjah.

Khalid Al Suwaidi, Deputy Director of Registration and Licensing Department at SEDD, said that licenses issued during the third quarter amounted to 2,137 ones, while renewed licenses increased to 15,844 licenses. Also, commercial licenses ranked first according to license type, reaching 1,267 licenses issued during the third quarter, followed by professional licenses with 605 ones, then industrial licenses, which reached 126 ones, while e-commerce licenses came in fourth place with 76 licenses, and Eitimad licenses was the lowest with 63 licenses.

As for the renewed licenses, commercial licenses came first with a total of 9,991 licenses, followed by professional licenses with 4,818 ones, and then industrial licenses with 747 ones, while the number of Eitimad licenses reached 227 licenses, whereas e-commerce licenses hit 61 licenses.

Khalfan Al Herathi, Director of SEDD Branches, pointed out that all the Branches are witnessing a remarkable investment movement, as the huge development projects launched by His Highness Sheikh Dr. Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, in various regions and cities of Sharjah, have had a significant impact on the economic sector. He pointed out that the Department’s indicators for the recent period show that the rates of issuing licenses have achieved a remarkable increase, which bodes well for a commercial and economic recovery in the region. The data highlighted the geographical distribution and development of activities in Sharjah, therefore, the number of licenses issued by SEDD Industrial Areas Branch amounted to 975 licenses, while the Central Region branch with 200 licenses, then Khor Fakkan branch with 89 licenses. Also, Kalba branch dealt with 68 licenses, while Dibba Al Hisn branch completed 18 issued licenses.

As for to the issued licenses, SEDD Industrial Areas Branch completed 7,295 licenses. Then, the Central Region branch completed with 1,552 licenses, while Khor Fakkan branch dealt with a total of 587 licenses. Likely, Kalba branch accomplished 574 licenses, while Dibba Al Hisn branch dealt with 106 licenses.

Meanwhile the Sharjah Investment and Development Authority (Shurooq) is leading the charge towards a sustainable future. By integrating eco-friendly practices into its development projects, Shurooq is setting a new standard for urban development in the region.