In a monumental showcase of strategic growth and visionary leadership, the Sharjah Investment and Development Authority (Shurooq) has announced the completion of 52 landmark development projects across the emirate. Over the last 15 years, the Authority has amassed over AED7.2 billion in investments. The projects collectively span over 60 million square feet, reshaping Sharjah’s economic, cultural, and tourism landscape.
Sharjah’s Diversified Economic Growth Backed by Strategic Partnerships
Shurooq’s achievements stem from a clear vision of sustainable economic diversification, championed by H.H. Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and driven by the dynamic leadership of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq.
“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. Our projects reflect our commitment to the vision of H.H. Sheikh Dr. Sultan bin Muhammad Al Qasimi to position Sharjah as a global destination for business, tourism, and innovation,” said Sheikha Bodour bint Sultan Al Qasimi.
“We believe that our success lies in our ability to adopt a long-term vision, invest in effective partnerships, and commit to building a prosperous future for all.”
Investment Highlights Across Key Sectors
- Real Estate: AED5 billion across three major developments
- Hospitality: AED850 million in 10 unique projects
- Retail & Entertainment: AED870 million across 18 destinations
- Arts & Culture: AED447 million invested in five projects
- Food & Beverage: 10 sector-wide developments
- Environmental & Waterfront Projects: 7.7 km of revitalized coastline
These projects have created over 5,000 job opportunities, including 1,095 jobs through 10 international and local partnerships, further reinforcing Shurooq’s role as a critical pillar of Sharjah’s non-oil economy.
“Since its establishment, Shurooq has been dedicated to contributing to the economic, social, and cultural future of Sharjah,” said Ahmed Obaid Al Qaseer, CEO of Shurooq.
“Our strategy is based on diversity, sustainability, and strategic partnerships. Today, we are reaping the benefits of this approach, with projects that have delivered real economic and social impact and enhanced Sharjah’s competitiveness regionally and globally.”
Real Estate Development: A Catalyst for Sharjah’s Urban Future
Shurooq’s three flagship real estate projects—Maryam Island, Sharjah Sustainable City, and Ajwan Khorfakkan—are valued at AED5 billion and consist of 4,516 residential units, with 4,187 already sold to investors from 98 nationalities. These projects anchor Sharjah’s real estate growth, which has seen a compound annual growth rate (CAGR) of 48.9% in sales between 2018 and 2024.
Featured Real Estate Projects:
- Maryam Island (with Eagle Hills): 3,083 units, 3.19 million sq. ft. in Al Khan
- Sharjah Sustainable City (with Diamond Developers): 1,248 eco-units across 3.29 million sq. ft.
- Ajwan Khorfakkan: A luxury development redefining high-end living in Sharjah
Tourism and Hospitality Sector Sees 5.1% Growth in H1 2024
With investments exceeding AED850 million, Shurooq has launched and operates 10 hospitality projects, including heritage lodges, desert retreats, and eco-resorts.
Shurooq’s Hospitality Gems:
- Najd Al Meqsar: Restored 100-year-old village hotel in Khorfakkan
- Nomad Kalba: Eco-retreat with 20 cabins
- Al Badayer Retreat: Desert adventure resort
- Kingfisher Retreat: Eco-luxury resort in Kalba mangroves
- Moon Retreat: Stargazing and desert glamping in Mleiha
- Al Faya Retreat: Modern-meets-traditional desert resort
- Al Rayaheen Retreat: Heritage resort with 20 traditional homes
- The Chedi Al Bait, Sharjah: Luxury heritage hotel managed by GHM
Retail, Leisure, and Entertainment: Enhancing Sharjah’s Visitor Economy
Shurooq has invested AED870 million in 18 lifestyle destinations, fostering vibrant community hubs and attracting residents and tourists.
Key Destinations Include:
- Khorfakkan Beach: Family-friendly water sports destination
- Al Jabal Adventure: Mountain biking, ziplines, hiking
- Al Heera Beach: 3.5 km of dining and entertainment
- Kalba Beach & Kalba Waterfront (with Eagle Hills): Eco-beach and lifestyle mall
Arts, Culture, and Heritage Projects: AED447 Million Invested
Shurooq’s cultural vision includes large-scale initiatives to protect and promote the emirate’s rich heritage and artistic expression.
Major Cultural Investments:
- Al Noor Island: Art-meets-nature sanctuary
- Heart of Sharjah: Historic preservation in the emirate’s heritage district
- Maraya Art Centre & 1971 Design Space: Contemporary art hubs
- House of Wisdom: Innovative cultural center honoring Sharjah’s UNESCO World Book Capital title
- Mleiha National Park: Archaeological and eco-adventure landmark
FDI, SME Empowerment, and Sharjah’s Global Investment Profile
Since its inception in 2016, Invest in Sharjah, the Sharjah FDI Office, has attracted 617 projects, generated AED96.75 billion in capital, created 46,761 jobs, and facilitated 373 strategic initiatives.
Shurooq continues to empower SMEs and local entrepreneurs, offering retail spaces across strategic developments and maintaining a strong focus on sustainability aligned with the UAE’s 2050 Net-Zero Goals.
Sharjah’s Rising Global Profile in Entrepreneurship and Innovation
In 2024, Sharjah ranked 4th in the GCC and 7th in MENA in the Global Startup Ecosystem Report 2024 by Startup Genome and the Global Entrepreneurship Network, reinforcing its status as a leading hub for innovation and economic opportunity.
A Vision Realised, A Future Reimagined
With a proven blueprint of visionary leadership, sustainable development, and strategic partnerships, Shurooq has firmly positioned Sharjah as a global model for inclusive, innovative, and diversified growth. It is poised to shape the next chapter in the UAE’s journey to becoming a world-leading non-oil economy.
–Input WAM
