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SCCI Urges Real Estate Sector To Promote Sustainable Concepts In Sharjah

Sustainable development viewed as an ideal solution to tackle the impact of the global crisis

Sharjah, UAE, April 22, 2009: The Sharjah Chamber of Commerce and Industry (SCCI) hosted representatives from Sharjah’s real estate sector today (April 22, 2009) in a special business breakfast held at at the Chamber’s new facility. The event was attended by SCCI Chairman H.E. Ahmad Mohammed Al Midfaa, Member of the Board of Directors Abdullah Mohammed Sherif Zaman, SCCI Director General Hussein Mohammed Al Mahmoudi, Director General of Land Registry in Sharjah Hamed Salem Al Abdouli, and representatives from various property establishments and companies in the emirate.

The gathering mainly focused on the status of the real estate sector amidst the global crisis and explored ways to boost current real estate investments. The implementation of quality standards, the promotion of excellence, support for sustainable practices and the possibility of applying related quality principles and green buildings concepts were extensively discussed. These strategies were agreed to be key to upgrading the quality of real estate projects; reducing cost; protecting the environment; and supporting Sharjah’s overall strategy of achieving sustainable growth.

Al Midfaa said: “The concept of doing business while adopting sustainability standards is receiving greater interest among various sectors, especially within the real estate community of Sharjah and the UAE. Sustainability plays an important role in growth amidst increasing environmental and social awareness across the region. There is no doubt that the positive financial, social and environmental impacts of sustainable development have gone beyond being just our organizational aims and have become essential business goals. The adoption of sustainable philosophies continues to protect Sharjah from the major repercussions of the current global financial crisis.”

During the meeting, discussions arose on the long-term objectives and goals of the property sector in promoting sustainable development based on support for infrastructure and human resources. The challenges and barriers affecting Sharjah’s business sector as a whole, in light of current economic changes were also reviewed. The SCCI committed to further strengthening its strategic partnerships with various sectors and launching new initiatives and projects based on high standards of quality. These are expected to contribute to the promotion of the development process and support the emirate’s high economic potential.

The SCCI has witnessed a significant increase in the number of members belonging to the real estate sector in light of the diversity of construction projects in Sharjah. The number of members involved in land and property valuation has reached around 30 establishments. Approximately 35 associates are part of the property and land rental sector, while land and property investment sector members are at around 72. Members from the land and property management segment are at around 333, while an estimated 10 members represent land and property ownership.

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