Shurooq Delivers 52 Projects Worth $1.96B, Boosting Sharjah Market

The Sharjah Investment and Development Authority (Shurooq) has announced the successful completion of 52 major projects over the past 15 years, totaling AED 7.2 billion ($1.96 billion) in investments. These initiatives have significantly contributed to Sharjah's transformation into a dynamic hub for real estate, tourism, culture, and sustainability.

Diverse Portfolio Spanning Real Estate, Hospitality, and Culture

Shurooq’s expansive portfolio includes:

• Three real estate projects with investments totaling AED 5 billion
• Ten hospitality ventures valued at AED 850 million
• Eighteen retail and entertainment projects exceeding AED 870 million
• Five arts and culture initiatives worth AED 447 million
• Ten food and beverage developments and six strategic joint ventures across various sectors

Collectively, these developments span over 60 million square feet and reflect Shurooq’s commitment to diversified and sustainable growth.

Emphasis on Sustainability and Job Creation

One of the standout aspects of Shurooq’s efforts is the development of 7.7 kilometers of waterfront areas, enhancing the emirate’s natural appeal while supporting environmental goals. In total, the projects have created over 5,000 jobs, including 1,095 positions through ten local and international partnerships.

Real Estate Impact: Sharjah’s Market on the Rise

Shurooq’s real estate investments have been instrumental in driving Sharjah’s property sector forward. Key developments such as Maryam Island, Sharjah Sustainable City, and Ajwan Khorfakkan have delivered a combined 4,516 residential units valued at AED 5 billion. Of these, 4,187 units have already been sold, with buyers from 98 nationalities, reflecting Sharjah’s growing international investor appeal.

Leadership Perspectives

Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq, stated:

"Over 15 years, Shurooq has been a model of ambition, transforming Sharjah through our diverse investments and partnerships that have strengthened the emirate’s economy and enriched its cultural landscape."

Ahmed Obaid Al Qaseer, CEO of Shurooq, added:

"Our projects are guided by a clear vision, focusing on diversity, sustainability, and strategic partnerships, resulting in enhanced regional and global competitiveness for Sharjah."

Future Outlook

With a compound annual growth rate (CAGR) of 48.9% in real estate sales from 2018 to 2024, Sharjah’s property market is showing sustained momentum. Shurooq’s continued focus on innovative, sustainable, and sector-diverse development is expected to position the emirate for long-term growth and increased global competitiveness.