Saturday, Sep 26, 2020
International Finance
Company Economy

Sharjah Asset Management races towards emirate’s 2020 goal

Sharjah Asset Management, Sharjah, economic diversification, Al Saja'a Industrial Oasis, Souq Al Haraj, Souq Al Jubail, economy, non-oil economy, Middle East, United Arab Emirates, Waleed Al Sayegh, asset management, innovation, His Excellency Sheikh Mohamed Bin Saud Al Qasimi
An exclusive tete-e-tete with leading asset management company Sharjah Asset Management reveals the company’s forward-thinking approach to business and developing sustainable goals, making a strong case for achieving Sharjah’s 2020 Vision

What were the factors that contributed to winning this award?
Our innovative mind-set is one of our core values and initiatives towards generating solid returns and fast-forwarding to the emirate of Sharjah 2020 Vision. Through our agreement with United Arab Emirates’ telecommunications company “Du,” we have revolutionised our asset management software, and the way we handle clients. The software implements critical business processes and operations. Through managing the asset life cycle with enterprise asset management, SAM can actively and efficiently reduce costs, administer capital expenditures, and increase return on assets such as: fixed property, plant, and equipment.

The software allows the use of operating funds rather than capital funds for technological purchases. This spreads payments over the life of the solution, instead of making an entire payment up-front. This innovative initiative with Du solves the one of the key issues in traditional implementations, through which customers have several different contracts and several different parties to negotiate with for a single solution.

Factors that contributed to winning this award include the integration of SAP asset management software solutions, to help clients manage critical business practices and operations. In addition to the development of unique retail concepts: Souq Al Jubail, Souq Al Haraj, and Al Saja’a Industrial Oasis (ASIO) in the emirate of Sharjah.

Sharjah Asset Management’s recognition lies in its characteristics as a whole, what makes the company’s progression-centric approach in advancements a reality is its nurturing environment, embedded competencies and assets, accountable, capable, and creative leaders, and our innovation-friendly management processes.

How is Sharjah Asset Management adopting forward-thinking approach to business?
SAM’s objective is to create a competitive economy for Sharjah through world-class investments and deployment of dedicated professionals to maximise returns from investment and asset management activities.

Our biggest asset is our SAM community and employees and we strive to adopt a forward thinking and transparent approach. Through this, and exercising the latest management strategies and structures, we adhere to global standards and world-wide experience. We look into the first-rate deals which have added value to the community, rewards on investment, and a positive impact on social and economic development.

An example of this is the launch of our Leadership Empowerment and Development Programme (LEAD) which focuses on the positive impact for employees to advance in their profession.

Additional concepts that Sharjah Asset Management adopts are the values of sustainability, technological advancements, smart services, and empowerment strategy. Sharjah Asset Management practices and celebrates the core values of efficiency, agility, integrity, and innovation. SAM supports institutions of competitive corporate culture that boasts strategic partnerships, directly or indirectly via important investment opportunities, whose outcome will contribute to Sharjah’s economic growth and deliver data-driven results and solutions.

Al Saja’a Industrial Oasis is one of the Sharjah Asset Management’s most ambitious projects. (Image: SAM)

What is the optimal model for asset management holding, and how will Sharjah Asset Management get there?
SAM has many up-coming strategic investments and projects for the future. Our goal is to contribute to the emirate’s sustainability and boost its economy. SAM will continue as the optimal investment model in Sharjah through its dedication and enriched human capital, to ensure that the government and economy of the emirate are thriving through sustainable investments and ground-breaking policies. SAM strives towards innovation, excellence and quality in all our business activities and use our energy and creativity to find new pioneering solutions and ideas.

Furthermore, SAM works to rapidly respond to changes in both the internal and external environment without losing momentum or vision; working well under pressure whilst delivering results and adjusting to new information or changing circumstances. We maintain full transparency and serve our stakeholders with utmost integrity and professionalism. SAM’s aspires to build a supportive environment that empowers and promotes education, development, and enjoyment.

What does 2018 hold for Sharjah Asset Management?
SAM seeks to launch several growth projects to develop the industrial, mixed use, and retail sectors in order to tackle the growing needs of investors and residents in the emirate of Sharjah, as well as serving the demand for real estate investment and responding to the strong call from local, regional, and international markets.

SAM follows a diverse, yet strategic approach measured by its delivery on projects, under the patronage of HH Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. SAM’s cornerstone of business is its integrity that supports growth and development of the Government’s initiatives fostering and expanding its business networks in order to further generate income and prosperity for the emirate of Sharjah.

The company’s overall objectives are to establish a diverse economic culture for Sharjah, creating future reserves and achieving economic benefits. We are proud to emphasis on our vision; to be a globally reputable wealth creation arm for Sharjah.

We are thrilled to observe the tremendous growing interest from local and global top investors in our brand and key projects, such as Al Saja’a Industrial Oasis (ASIO); one of the ground-breaking and ambitious initiatives that follows the development plans of the Government of Sharjah which will be a comprehensive platform for import and export both into and out of the emirate of Sharjah.

Other projects include Souq Al Haraj; the region’s primary car shopping destination, and Souq Al Jubail; the largest of its kind in UAE presenting a unique food retail experience and continuing to explore further investment opportunities.

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