Sharjah Airport International Free Zone (SAIF Zone) has entered into a partnership agreement with Tokai Optical Co., a prestigious Japanese company renowned for its expertise in prescription lens manufacturing.
Under the terms of the memorandum of understanding (MoU), Tokai Optical will lease a warehouse covering approximately 4,300 square feet within the Free Zone. This marks the first phase of Tokai Optical’s expansion in the SAIF Zone, representing an investment of around $2.1 million (AED8 million).
Tokai Optical ranks among the top 5 lens manufacturers worldwide and is positioned among the top 3 companies for research and development in its sector. Distinguishing itself, the company produces all its products in-house and holds the world record for the thinnest lens, exemplified by the Tokai 1.76 lens.
The new partnership with Tokai Optical underscores the growing prominence of SAIF Zone as a preferred destination for international companies seeking to extend their reach into global markets.
It also solidifies its status as a strategic hub for businesses aiming to swiftly penetrate the Middle East and African markets. Furthermore, this achievement highlights the free zone’s relentless efforts to attract foreign direct investment across various economic sectors.
Saud Salim Al Mazrouei, Director of SAIF Zone, stressed that the successful attraction of a well-established company with an impressive 85-year history underscores the significant value that the free zone offers to international businesses. Al Mazrouei further underlined that the comprehensive suite of services offered by the free zone to international companies forms the bedrock of its competitive edge, drawing firms from diverse industries and sectors.
For his part, Kurt Leuridan, CEO of Tokai Optics, underscored the conducive business environment that encourages investment in SAIF Zone as a key factor driving the company’s decision to establish a presence in the region. He further noted that Tokai Optical’s overarching objective is to expand into global markets and reach diverse consumer segments, and SAIF Zone perfectly aligns with this vision.
