SAIF Zone, Spanish group ink deal

The Sharjah Airport International Free Zone (SAIF Zone) has signed an investment agreement with TORRECID of Spain, a globalised multinational business group dedicated to providing products, services, solutions and future trends to the Ceramic and Glass Sector, to boost the former operations in the region.

Under the agreement, the Spanish group will lease three state-of-the-art warehouses stretching over an area of 20,000 sq. ft, making it the group’s first headquarters not only in the UAE but also in the GCC countries.

The agreement was signed on Sunday by Saud Salim Al Mazrouei, Director of SAIF Zone, and Jose Nacher - Branch Director of TORRECID, in a ceremony held at the headquarters of the free zone. The ceremony was attended by several senior officials from both entities.

The Spanish group, which now operates in 28 countries with customers in more than 130 countries, aims to expand its global operations. It has chosen its regional headquarters to be based in Sharjah to further boost its global operations and enhance its presence in the Asian, African European, and American markets.

Speaking on the occasion, Al Mazrouei said: “TORRECID’s decision to base its regional operations in Sharjah is yet another testament to the emirate’s good reputation, which has grown to become a regional and international hub for doing business. It also reflects global investors’ trust in the emirate and SAIF Zone in particular thanks to its unique environment, competitive services, facilities and above all the wise directives and vision of His Highness Dr. Sheikh Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.

“With TORRECID becoming a new investor in the free zone, we are sure it will help strengthen Sharjah’s position as a favoured destination and business centre for global and regional investments in the industrial sector,” he emphasised.