SHARJAH // Emirate residents say they are happy to see the back of hundreds of car dealerships that were ordered to move from their neighbourhoods.
The Sharjah Economic Development Department set a deadline of December 31 for the businesses to vacate the Abu Shagara and Abu Danig areas and move to the specially-built auto city on the outskirts of the emirate.
Abu Shagara resident Yousef Ahmad said the dealers had mostly complied.
“On a daily basis over the past month, a lot of dealerships took down their signs and moved their cars to the new location.”
The Egyptian was also glad there were fewer salesmen in the area as he claimed they had harassed residents to buy cars.
“It’s getting quieter every day with a decrease in motorists roaming the streets looking to purchase cars,” he said.
In 2013, Sharjah Ruler Dr Sheikh Sultan bin Mohammed Al Qasimi approved a plan to relocate the dealerships to a Dh150 million site in Al Riqa Al Hamra near the airport.
The location has 415 premises for vehicle dealerships and shops for car accessories and tyres. There are also premises where the registration process can be completed.
Resident Lisa Joshua, 31, said her two children would now be able to play outside safely.
“The move will bring peace of mind for parents,” said the Filipina. “It’s dangerous on the streets for children. The traffic in the afternoon is heavy, and my kids are not allowed to go outside unless accompanied by an adult.”
Abdullah Al Hadidi, an auto city director, said that most of the dealers accepted the order to move. “The majority of business owners waited until the last days to start moving.”
He said that auto city would open this month.
“We expect that by the end of next week the majority of dealerships in Abu Shagara and Abu Danig will complete their move,” Mr Al Hadidi said.
Dealers who did not follow the directives would be subject to a fine.
Mr Al Hadidi called the facility a “one-stop shop” for customers and businesses.
“We have bank branches, insurance companies, testing and registration centres that will enable customers to have everything they might need to complete their business.”
Iraqi businessman Burhan Qalam has been moving his vehicles from his old premises to auto city on a daily basis.
“I will finish everything in a few days. The new location is good and organised,” said the 65-year-old, who had been renting in Abu Shagara for the past five years.
“However, I hope it brings in good business with our increased rent and expenditures.”
Fellow Iraqi Ali Misban was also among those who relocated.
“I didn’t want to risk getting fined, so I moved my cars and I’m open for business. I will miss the old area – I have been there for 16 years.”
tzriqat@thenational.ae
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
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UAE squad
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Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
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Sector: E-commerce
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Investment stage: Pre-seed
Initial investment: Undisclosed
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