Sharjah Holding’s board of directors approves 2020 budget

Board also reviewed the development of key projects such as Matajer and Al Zahia community

Sharjah Holding’s board of directors has approved the company’s 2020 budget, following the first meeting of the year, where board members reviewed financial and operational performance and discussed plans and strategies for the year.

According to a statement released by the company, the meeting was chaired by Waleed Al Sayegh, chairman of Sharjah Holding, in the presence of vice chairman Ali Al Abdullah and board members Khalid bin Butti, Hawazen Esber and Ahmed Al Shami, and Malek Al Khashashneh, secretary of the board of directors.

The meeting was also attended by Walid Al Hashimi, chief executive officer, Sharjah Holding and Shadi Al Azzeh, Al Zahia project head.

Waleed Al Sayegh highlighted the teams’ efforts to ensure that all projects are in line with the vision of His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, in terms of making the Emirate a preferred residential, tourism and business destination. He thanked employees at the company’s subsidiaries for their achievements and emphasised that Sharjah Holding strives to enhance the standard of living for Sharjah’s residents.

The board of directors discussed the company’s past and current financial statements and financial situation, the recommendations of the Finance and Administration Committee, and the budget for 2020. The team reviewed the development of Matajer – a neighbourhood retail centre concept – focusing on the recently opened Matajer Al Musalla and on plans to expand Matajer Al Rahmaniyah and Matajer Al Seyouh.

The board members also reviewed the developments of Al Zahia community which once completed in the year 2023, Al Zahia community will attract more than 12,000 people to the development which will include about 2,400 villas, townhouses, and apartments.

Established in 2008, Sharjah Holding is a strategic partnership between Majid Al Futtaim Properties and Sharjah Asset Management. The entity is focused on developing and managing retail centres and mixed-use developments in the emirate of Sharjah.