17 June 2024

Driving regional growth

| The European |

The old adage that “nothing is constant but change”, is one that Sharjah Asset Management (SAM) takes seriously. As the investment arm of the government of Sharjah, SAM is striving to create a diverse and robust economy that strengthens the competitiveness of the emirate and cultivates an environment of growth.

The company always seeks to be creative across each phase of its operations and, as such, has been the recipient of several prestigious accolades including the “Most Innovative Asset Management Company 2017 – UAE” at the fifth awards by International Finance.

The awards are an annual event that recognises leadership excellence in the finance services, real estate, utilities, technology, and telecoms sectors. The award celebrates the highest performers from around the world, with a particular focus on companies, like SAM, who position corporate social responsibility and environmental sustainability at the forefront of their agenda. SAM is recognised for its innovation and use of best practice, as well as its ability to keep up with developments across the local and international capital markets.

While the award is a testament of SAM’s strong performance in a multitude of projects (in line with the vision of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah) it also affirms the cutting-edge services that the company provides to enhance the competitiveness of Sharjah.

SAM’s strategic vision is led by CEO, HE Waleed Al Sayegh through his commitment to set new benchmarks for the industry. Under the leadership of Mr Al Sayegh, the company has consistently streamlined its services, while expanding the scope of its investment services to generate sustainable financial returns.

According to Mr Al Sayegh, asset management industry plays a crucial role in economic growth. It enables enabling people to save for their long-term financial security, while also stimulating innovation and ensuring investment in infrastructure. With this goal in mind, SAM leverages new opportunities brought about by disruptive technologies, such as AI and the Internet of Things to create an exciting new era for the company.

Reinforcing the need for constant innovation, Mr Al Sayegh believes the benefits of change cannot be underestimated: “Technology is an essential aspect of innovation, and leveraging and implementing technologies can radically help reduce costs, provide better access to data, increase transparency, drive efficiencies, reduce risk and most importantly set firms apart,” he says.

Mr Al Sayegh also believes that innovation is essential as it not only brings efficiency and increased value for an organisation but also offers a distinct brand visibility in a competitive environment.

SAM’s vision for progress is underpinned by several key principles and mechanisms, including sustainability, technological advancement and empowering the workforce. Also, the company practices the core values of efficiency, agility, integrity, and creativity, which form the core of sound corporate culture and facilitate strategic partnerships.

In the short-term, SAM is looking to launch a range of projects that will develop the industrial and retail potential of the emirate and address the growing needs of investors and residents of Sharjah. This will also service the demand for real estate investment and ensure the infrastructure is in place to respond to the demands of the international markets.

As the wealth creation arm for Sharjah, SAM follows a diverse, yet strategic approach to its investments, driven by industry verticals, including: financial services, transport and logistics, technology, real estate, and energy. SAM owns four significant projects: Al Saja’a Industrial Oasis, Souq Al Haraj – For Cars, Souq Al Jubail, and Souq Al Hamriya.

In addition to its prime assets in Sharjah, SAM has overseas investment activities in many key economies including the USA, UK, Finland, Australia, Japan, Singapore, and South Korea.

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