Sharjah Asset Management partners with Malaysian firm - GulfToday

Sharjah Asset Management partners with Malaysian firm


Sharjah is rising as a preferred option for investors and investments.

Business Bureau, Gulf Today

Sharjah Asset Management (SAM), the investment arm of the Sharjah government, has announced the launch of a new company through its partnership with the largest engineering consulting firm in Malaysia (CHSS).

The new alliance, called Asool CHSS, will work to provide the most effective levels of engineering solutions in order to support and enhance the development of infrastructure and urban projects in the emirate of Sharjah.

Walid Al Sayegh, CEO of SAM, said: “Thanks to the support of the Emirate of Sharjah, under the guidance of His Highness Sheikh Dr. Sultan Bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, the emirate is rising as a preferred option for investors and investments.

This is apparent through the increase in international companies seeking to enter the region’s markets, such as the engineering consultancy firm CHSS, which is the largest engineering company in Malaysia.

Walid Al Sayegh added: “SAM has managed, in line with its continuous efforts aimed at consolidating relations with major international companies, to achieve this exciting new alliance with CHSS.

The joint venture will constitute a major value to projects in the Emirate of Sharjah, which is always keen to adhere to the policies of the open market and provide all the facilities necessary to support investment and companies of all sizes and sectors.”

Tan Sri Ir Kuna Sittampalam, Executive Vice Chairman, HSS Engineers said: “We are excited to join hands with SAM and look forward to a productive business relationship. We are eager to welcome the UAE fresh engineers as they visit our group in Malaysia to get first-hand experience and knowledge of the process of managing large scale projects.

This will be in the form of short programs or long internships which will allow the engineers to return home with a wealth of experience to benefit their local society.”

“I believe governments will accelerate the projects to jumpstart the economy. We foresee the construction industry, particularly the infrastructure space to play a major role, as this will provide the necessary larger downstream multipliers to the economy.

“As a key player already involved in existing nation-building projects, for example, the East Coast Rail Link, Klang Valley Mass Rapid Transit Line 2, Iskandar Malaysia Bus Rapid Transit project and Langat 2 Water Supply Scheme, we will leverage on our expertise and track record to remain involved in all future projects”, added Tan Sri Ir Kuna.

George Saeed Khuraish, General Manager of CHSS, said: “It is our pleasure to enter into an alliance with Sharjah Asset Management, and we will do our utmost to provide the best possible engineering solutions for future projects.

With our working relationship with government agencies and private companies in the Emirates spanning over the last decade, we are certain that this alliance will contribute to strengthening these relationships even further.”

The General Manager also praised the great development witnessed in the urban development sector in the Emirate of Sharjah. He commended the way in which the emirate was able, within a few years, to develop a suitable environment for real estate investment, becoming a leading figure in the sector.

This is demonstrated by the various high quality and distinguished projects in the emirate which reflect the confidence that investors place in the real estate market in Sharjah.

Abdulaziz Fikry was appointed CEO of the new company, which will serve the Emirate of Sharjah through its amassed experience, studies, and research. Fikry said: “There are many investment opportunities provided by Sharjah in various sectors, including the real estate sector, and the construction and infrastructure sectors, so we expect great success for this new entity during the coming period, especially in light of the facilities provided by the emirate to investors from all over the world.”

The Emirate of Sharjah is witnessing continuous economic and urban growth thanks to the guidance and vision of His Highness Sheikh Dr Sultan Bin Muhammad Al Qasimi, Member of the Supreme Council, Ruler of Sharjah and the support of Sheikh Sultan Bin Muhammad Bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, Chairman of the Executive Council.

CHSS Consultants has implemented projects in many countries around the world and has a staff of up to 2,100 people including 1,000 specialised engineers.

The company also has experience spanning more than three decades, and it provides a wide range of engineering solutions, in addition to specialised professional services; such as engineering design, architecture, planning, supervision, cost control and regulation, and major project management.

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