Tokai Optical, a Japanese prescription lens manufacturer, has reached an agreement to set up its warehouse facility within Sharjah Airport International Free Zone (Saif Zone). 

 

Under the terms of the MoU, Tokai Optical will lease a warehouse spanning 4,300 sq ft within the Free Zone, thus marking the first phase of the Japanese group's expansion in Saif Zone, representing an investment of around AED8 million ($2.1 million).

 

Tokai Optical ranks among the top 5 lens manufacturers worldwide and occupies space in the top 3 companies for research and development in this 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," said Saud Salim Al Mazrouei, the Director of SAIF Zone, after signing the deal with Kurt Leuridan, CEO of Tokai Optics, in the presence of senior officials and managers from both sides.

 

"This 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," stated Al Mazrouei, further underlining the comprehensive suite of services offered by Saif Zone to international companies.

 

The addition of "Tokai Optical" to the fold is expected to catalyse growth and development in both the industrial and medical sectors across the UAE and, more specifically, in Sharjah, fortifying the emirate's standing as a prime destination for high-quality investments, he added.

 

Leuridan 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.

 

"Our overarching objective is to expand into global markets and reach diverse consumer segments, and Saif Zone perfectly aligns with this vision," he added.-TradeArabia News Service