Shurooq Real Estate Sales Cross USD 1.58 Billion Across Flagship Projects

Sharjah, United Arab Emirates: The Sharjah Investment and Development Authority (Shurooq) has reported strong performance across its real estate portfolio, with total investments and partnerships reaching AED 5.8 billion (USD 1.58 billion) and 96.4 percent of units sold across three flagship developments: Maryam Island, Sharjah Sustainable City, and Ajwan in Khorfakkan.

Collectively, the developments comprise 4,520 residential units, of which 4,358 units have been sold to local and international buyers, underscoring sustained global interest in Sharjah’s property market and reinforcing the emirate’s growing appeal as a long-term investment destination.

Driving Sharjah’s Non-Oil Economic Growth

Shurooq’s real estate performance continues to support Sharjah’s broader economic diversification strategy, with the sector contributing 7.6 percent of the UAE’s non-oil GDP, WAM reported. Between 2018 and 2024, Shurooq recorded a 48.9 percent compound annual growth rate (CAGR) in real estate sales, significantly outperforming wider sector benchmarks and reflecting strong investor confidence in its development pipeline.

According to CBRE’s UAE Real Estate Market Review for Q2 2025, residential property prices across the UAE rose 12.8 percent year-on-year, while Sharjah registered AED 27.1 billion in real estate transactions during 2024, representing a 14 percent increase compared to the previous year. These trends align with global projections from JLL, which forecasts an 8 percent increase in worldwide real estate investment volumes in 2025, driven by urban population growth and continued demand for sustainable, mixed-use communities.

Maryam Island Leads Waterfront Residential Demand

Maryam Island, Shurooq’s flagship waterfront development and a joint venture with Eagle Hills, has achieved 99 percent sales, with 3,037 of 3,083 units sold, generating AED 3.14 billion in total sales. To date, 1,278 units have been handed over, with remaining phases scheduled for delivery through to 2028.

During the first half of 2025, the development recorded sales of 138 units valued at AED 220 million, alongside a 15 percent year-on-year increase in average price per square foot. Spanning 3.19 million square feet, Maryam Island continues to progress with several projects under construction, including Jawaher, Crystal, Aysha, and Mesk Residences.

The development has already delivered a mix of residential and commercial assets that have enhanced the Al Mamzar waterfront and surrounding public realm. Future phases will introduce additional residential offerings alongside expanded retail, leisure and community infrastructure designed to further strengthen both lifestyle appeal and long-term investment value.

Sharjah Sustainable City Achieves Full Sell-Out

Developed in partnership with Diamond Developers, Sharjah Sustainable City has fully sold all 1,252 units, achieving AED 2.5 billion in sales by the end of June 2025. The master-planned community spans 3.29 million square feet and integrates renewable energy systems, water recycling solutions and eco-friendly infrastructure aimed at reducing water consumption and carbon emissions.

Phases 1, 2 and 3 have been fully handed over, with Phase 4 construction scheduled for completion in Q4 2025. Beyond its physical development, Sharjah Sustainable City continues to implement sustainability initiatives and community engagement programmes that promote environmental stewardship, social cohesion and measurable improvements in energy efficiency, water usage and waste management.

Ajwan Khorfakkan Strengthens East Coast Luxury Offering

On the UAE’s east coast, Ajwan Khorfakkan has sold 104 of its 185 units, representing 62 percent of total inventory and generating AED 271 million in sales. Once complete, the development will deliver 682,119 square feet of premium residential space along the Khorfakkan waterfront.

Ajwan is planned to include a comprehensive suite of lifestyle amenities, including the UAE’s first waterpark on the east coast, a marina, retail promenade, sports facilities and leisure attractions. Its strategic location offers proximity to key destinations such as Khorfakkan Beach, Khorfakkan Amphitheatre, Shees Park and Al Rafisah Dam, while remaining within a 90-minute drive of both Sharjah International Airport and Dubai International Airport.

This connectivity, combined with Khorfakkan’s rising profile as a tourism, leisure and marine destination, positions Ajwan as a distinctive lifestyle and investment proposition compared to other waterfront developments in the region.

Yousif Ahmed Al Mutawa, Chief Real Estate Officer at Shurooq, said: “Our AED 5.8 billion real estate portfolio underscores Shurooq’s position as a key driver of Sharjah’s urban transformation and a trusted partner for investors seeking long-term value. The strong sales performance across Maryam Island, Sharjah Sustainable City, and Ajwan reflects sustained demand, a diversified investor base, and the strategic alignment of our developments with market needs.”

He added: “As we build on this momentum, we are preparing to launch new landmark projects that will further strengthen Sharjah’s competitiveness, enhance its real estate landscape, and support its vision for sustainable economic growth.”

Shurooq’s latest performance highlights its expanding role in shaping Sharjah’s urban future, delivering integrated communities that balance lifestyle, sustainability and long-term economic value.