UAE ‘s Sharjah Airport International Free Zone (SAIF Zone) signed a memorandum of understanding (MoU) with a renowned Japanese lensmaker, Tokai Optical Co., with an investment close to AED8 million ($2.2 million).
Under the MoU, Tokai Optical will rent a warehouse of about 4,300 square feet in the Free Zone as an initial stage of the Japanese company’s expansion in the SAIF Zone.
Founded in 1939, Tokai Optical is a global top-five lens maker and a top-three company in its sector for research and development, which stands out by making all its products in-house and holding the world record for the thinnest lens, showcased by the Tokai 1.76 lens. The company has chosen SAIF Zone as its strategic launchpad for expansion into the Middle East and Africa.
Saud Salim Al Mazrouei, Director of SAIF Zone, emphasised that attracting a reputable company with a remarkable 85-year history highlights the substantial benefits the free zone provides to global businesses.
Al Mazrouei also highlighted that the wide range of services the free zone provides to international companies is the foundation of its competitive advantage, attracting businesses from various industries and sectors.
The inclusion of Tokai Optical is likely to spur growth in the UAE’s industrial and medical sectors, particularly in Sharjah, enhancing its reputation as a top location for premium investments.
We are delighted to announce that Tokai Optical, Japan's leading prescription lens manufacturer, is now part of our vibrant business community! A landmark MoU was signed, paving the way for Tokai Optical's leasing of a 4,300 square feet warehouse. pic.twitter.com/uXrfE1UVUe
— SAIF ZONE (@SAIF_Zone) January 28, 2024
