Sharjah: A sprawling new market for used cars, believed to be the UAE’s largest, with a capacity of 25,000 cars officially opened in Sharjah on Thursday, bringing years of planning to frutition.
Souq Al Haraj, located behind Tasjeel Village on Shaikh Mohammad Bin Zayed Road, was inaugurated by His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.
During the opening, Dr Shaikh Sultan was briefed about the faciltity as he and senior officials and dignitaries toured the market.
The Dh250 million Souq Al Haraj replaces the used car market in Bu Daniq and Abu Shagara residential area, which had been beset with parking and traffic problems because of the high number of used car showrooms and their vehicles on the roads.
By the turn of the new year, roughly 350 used car dealers had relocated to the new market, which also has parking space for 5,000 visitors, besides the parking lots for used car dealers.
Each of the 415 showrooms has parking for 24 to 44 used cars, depending on their size.
Gregg Downer, Chief Real Estate Officer of Sharjah Assest Managment, the investment arm of Sharjah goverment that is managing the market, said Souq Al Haraj is poised to be a success.
“There’s been strong interest from other emirates as well. It has the same dealers [from Abu Shagara] relocating here. It is conviniently located and it is easy to move around within the development, unlike Abu Shagara and Bu Daniq, which grew organically,” Downer added.
He said the readjustment for buyers and sellers would “balance out in a short period of time”, adding the managmet is committed to marketing the souq, which is also getting traction through word of mouth.
The market is being built in three phases, with phase one officially opening on Thursday.
A main advantage of the market is that customers can test and register their cars at the Tasjeel Village right next to the market. A fast-track service partnership is being set up to speed up the process for buyers and sellers.
Every car undergoes “stringent safety and quality checks” at the market. The managment says the checks mean customers can shop for used cars with confidence about their purchase.
There are also 70 shops for car accessories, washing, spare parts and other services on site.
Abdullah, an agent for customers looking for cars, said “it will take some time to get used to the new market”.
“In Abu Shagara, it was easy to navigate the showrooms because everything was close. You knew where to go for 4x4s or particular Mercedes models. Here, everything is very spread out. You need a car to go around this place,” Abdullah added.
Devi Lal, a Public Relations Officer for a used car dealer, said the new market, which has been operational for a few months, is managing to draw customers who were accustomed to Abu Shagara.
“However, the profit is lower for us as we are paying a higher rent here. A big showroom costs around Dh366,000 annually; a medium costs around Dh245,000; and a small one costs Dh60,000 to Dh80,000. This is around double the average rates in Abu Shagara,” Lal added.
