Connect with us

Business & Money

Hamriyah Free Zone inks investment deal with UAE’s Grankraft

The Sharjah-based company, Grankraft, is renowned for the implementation of iconic landmarks in the UAE with a strong market presence across the GCC and the world.




The Hamriyah Free Zone Authority (HFZA) has added another industry leader to its investor base after the UAE’s Grankraft company, specializing in metal production for building iconic landmarks, has leased approximately 323,000 sq ft plots of land, with an investment value of AED 22 million in the first phase and AED 45 million in the second phase, bringing the company’s total investment to AED 67 million.

This came during the signing of a Memorandum of Understanding (MoU) by HE Saud Salim Al Mazrouei, Director of the Hamriyah Free Zone Authority, and Mr. J. George, Director of  Grankraft, in the presence of officials from both sides.

The Sharjah-based company, Grankraft, is renowned for the implementation of iconic landmarks in the UAE with a strong market presence across the GCC and the world.

Through a spectrum of services ranging from design, manufacturing and installation, Grankraft is the mind behind the construction of some globally renowned projects such as a resort at Sheybarah South for The Red Sea destination , the hand sculpture at the Museum of the Future in Dubai, the Meydan Hotel in Dubai, the Royal Opera House Muscat, Museum Across Ages in Muscat and the Wave Plaza in Muscat.

The company, which has internationalized its operations during the last years extending its reach beyond GCC region, has also integrated a new Fit-Out division, which added to the current inhouse capabilities, it strengthens Grankraft’s construction services to become a one-stop shop providing every construction and engineering service needed for the building industry under one company. Grankraft has multiple manufacturing plants distributed across UAE, cutting-edge technological capabilities, as well as the highly skilled team of around 800 members including their advanced engineering department

Best creative solutions
“Grankraft’s investment in HFZA confirms the leading position of Sharjah as a favored destination for companies operating the industrial and construction sector, which is a key economic sector in Sharjah and UAE, and one of the pillars of the emirate’s economic diversification strategy,”

“Hamriyah Free Zone’s stellar performance and great reputation as a preferred destination for companies and investments in the construction and innovative sectors, as well as the availability of commercial and logistical infrastructure and unrivaled global connectivity, made it a destination for foreign direct investment and international companies,” added Al Mazrouei.

He pointed out that HFZA offers unique advantages for investors and companies to speed up the spread of their products and solutions and increase their revenues, as well as their direct access to markets with more than 3.5 billion consumers across various sectors in the Middle East, Africa and South Asia.

This comes in line with UAE’s strategic directions and objectives set by the wise leadership for the upcoming stage, noted Al Mazrouei.

A new phase for Grankraft
He noted that the presence of a 14-meter-deep water port, as well as the logistic facilities network, was a key factor for choosing HFZA as it will enable Grankraft to manufacture facilities for one of its iconic projects for The Red Sea destination in Saudi Arabia under development by  The Red Sea Development Company. This project is one of its kind, since for the first time the company is building a complex integrated seamless stainless steel orbs with mirror finish in its Hamriyah Free Zone plant and shipping it from Hamriyah port to the Red Sea Islands. 

He lauded the services and facilities provided by Hamriyah Free Zone and the support and keenness of its officials to provide all needs swiftly and seamlessly, stressing that these factors would help the company carry out its activities effectively and efficiently, and enhance its competitiveness and access to a large segment of customers in regional markets.

In addition to offering industrial and commercial plots of land, HFZA, the second-largest industrial free zone in the UAE, provides advanced infrastructure and modern facilities that strengthen external expansion plans for investors, especially in import and re-export to the world’s markets. It also provides countless competitive advantages, most notably a single-window operation that boosts the efficiency of performance and eases procedures of doing business, along with multiple tax exemptions, repatriation of capital and profits, full foreign ownership of the business, and quick access to regional and global markets.

Continue Reading


Sports4 weeks ago

Continental Racing: Emirati Team Clinches Victory in GT4 Class at the Hankook 24H Dubai

In a weekend filled with high-octane excitement, the celebrated Hankook 24H Dubai race returned to the famed Dubai Autodrome, continuing...

Art & Culture4 weeks ago

du achieves the Best Culture & Employee Engagement in the Region with 81% Rating in Glint’s Index

du, from Emirates Integrated Telecommunications Company (EITC), today announced results of the Culture & Employee Engagement Index survey conducted through...

Food & Beverages4 weeks ago

Dinner on the Beach: A Culinary Journey with French Flair at Drift Beach Dubai

This Valentine’s Day, DRIFT introduces a captivating experience – Dinner on the Beach. For the first time at DRIFT, relish...

Travel & Tourism4 weeks ago

Readers are rewarded at emirates airline festivals of literature

Emirates Airline Festival of Literature kicked off the first day of their 2024 edition with a ceremony to honour the...

Events & Happenings1 month ago

Abu Dhabi Festival 2024 Honors Giacomo Puccini’s Legacy With Spectacular Gala Concert

In the presence of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah,...

Healthcare1 month ago

Emirates Health Services concludes its successful participation in Arab Health 2024

Emirates Health Services, the exclusive partner in healthcare services, successfully concluded its participation in Arab Health 2024, which concluded on...

Automotive1 month ago

Ride in Style: Don’t Miss Out on Arabian Automobiles’ Renault Duster Offers

Renault of Arabian Automobiles, the exclusive Renault dealership serving Dubai, Sharjah, and the Northern Emirates, and a flagship company within...

Information & Technology1 month ago

Emirates Post Group Unveils New Brand Identity ‘7X’ for Future

Emirates Post Group Company (EPG) has unveiled its new brand identity – 7X – during an exclusive event at Madinat...

Health & Fitness1 month ago

Emirates Health Services “Basma” Project Addresses Healthcare Requirements in 313 Schools

Dr. Shamsa Majid Lootah, Director of the Public Health Department at Emirates Health Services (EHS), announced the launch of the...

Health & Fitness1 month ago

MoHAP hosts panel discussion on Nursing future at Arab Health 2024

"Nursing… Ambitious Future Insights"

News1 month ago

‘Vilal Housing’ to deliver 50 Residential Villas by 2024 to its Clients in the UAE

The nation-wide company constructs homes exclusively for UAE citizens across 7 emirates

News1 month ago

Statement by Ahmad bin Meshar Al Muhairi, Secretary General of SLC

on the Anniversary of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum’s accession as the Crown Prince of...

Automotive1 month ago

Audi Middle East and Museum of the Future enter 3rd year of partnership, with the showcase of the revolutionary activesphere concept

Audi Middle East and Museum of the Future have announced the arrival of the revolutionary activesphere concept car, marking a...

News1 month ago

Watani Al Emarat signs MoU with Emirates Society for Parent Care and Relief

To strengthen collaboration in organizing and supporting the senior citizen community

News1 month ago

Global Village announces second Geely Raffle Draw for a chance to win a Flagship Geely Tugella

Raffle participation will run until March 7th, and winner will be announced at Global Village on March 8, 2024 from...