Shurooq marks 15 years of strategic growth with AED 7.2bln in investments

Zawya

12-05-2025

Through strategic investments and bold innovation in key sectors, job creation, and global partnerships, Sharjah Investment and Development Authority (Shurooq) has created unforgettable experiences, driving Sharjah's goal of becoming a positive force for the economy, people, and the planet
Sheikha Bodour bint Sultan Al Qasimi: Guided by the visionary strategy of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi …. Our investments have transformed landscapes and lives, underpinning economic resilience and enriching cultural vibrancy.
Ahmed Obaid Al Qaseer: Shurooq is more than a developer — it's a partner in shaping Sharjah's future.
15-year recap:
AED 7.2 bn in total investments across 52 projects and experiences over 15 years.
Shurooq's offerings span 60 million sqft across Sharjah
3 major real estate projects, 10 in hospitality, 18 in retail, entertainment and vital sectors
7.7 kms stretch in beach developments
investments and partnerships totalling AED 5 billion in real estate
5,000 direct and indirect jobs were created across various sectors, with joint ventures contributing 1,095 positions.
48.9% CAGR (compound annual growth rate) in real estate sales between 2018 and 2024, showcasing strong market growth.
Sharjah: The Sharjah Investment and Development Authority (Shurooq) has announced AED 7.2 billion in investments across 52 groundbreaking projects and experiences, transforming over 60 million square feet throughout the emirate. This announcement comes as Shurooq marks 15 years since its inception, highlighting a journey defined by sustainable growth, community impact, and cultural preservation.
Rather than simply expanding its footprint, Shurooq has focused on creating destinations that offer meaningful, lasting connections between people and place. From real estate developments to immersive experiences, its projects have been pivotal in shaping Sharjah as a thriving, future-ready destination. Among its achievements are 7.7 kilometres of developed beachfront, offering unique coastal escapes that celebrate the emirate's natural beauty.
The impact of these initiatives goes beyond the numbers. Shurooq's projects have directly and indirectly generated 5,000 jobs, with 1,095 of those created through joint ventures. In addition, the authority has driven major collaborations with 10 local and international partners, highlighting the breadth of Shurooq's influence across multiple sectors.
From real estate, tourism, and entertainment developments to integrated experiences, these initiatives have played a vital role in reinforcing Sharjah's status as a dynamic and attractive destination. They include three major real estate projects with investments and partnerships totalling AED 5 billion, and 10 distinctive projects in the hospitality sector with investments and partnerships amounting to AED 850 million. The retail and entertainment sectors saw 18 projects, with total investments exceeding AED 870 million, while the arts and culture sector recorded five projects with investments reaching AED 447 million. In the F&B sector, Shurooq and its partners delivered 10 projects ranging from small to medium-sized ventures. Additionally, Shurooq took part in six joint ventures with strategic partners across various sectors, reflecting its vision to diversify its investment portfolio and promote sustainable growth across all fields.
Anchored by the vision of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah; the leadership of H.E. Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq; Shurooq has consistently prioritised sustainable economic growth and diversification. Its innovative approach, global partnerships, and focus on strategic investments continue to position Sharjah as a competitive destination for high-value projects and long-term growth.
Sheikha Bodour bint Sultan Al Qasimi: Shurooq's investments have transformed landscapes and lives, underpinning economic resilience and enriching cultural vibrancy
Sheikha Bodour bint Sultan Al Qasimi said: 'Shurooq's journey over the past 15 years has been one of ambition and execution, driven by the total commitment to creating sustainable value for Sharjah. The diversity and scale of our investments have transformed landscapes and lives, underpinning economic resilience and enriching cultural vibrancy. Guided by the visionary strategy of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, each project we have implemented has strengthened Sharjah's appeal as a global destination for business, tourism, and innovation. Our success has always been rooted in strategic foresight, meaningful partnerships, and an unwavering dedication to shaping a prosperous and inclusive future.'
Ahmed Al Qaseer: Shurooq is a Strategic Partner in Shaping Sharjah's Future
His Excellency Ahmed Obaid Al Qaseer, CEO of the Sharjah Investment and Development Authority (Shurooq), stated: "Since its inception, Shurooq has strived to be more than just a development entity — it has aimed to be a true partner in shaping Sharjah's economic, social, and cultural future. Every project we have undertaken is rooted in a clear vision inspired by the directives of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah. With the continued support of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Authority, we have worked to bring this vision to life through integrated development projects that place people and place at the heart of growth. Shurooq's strategy has always centred on diversity, sustainability, and impactful partnerships. Today, we are witnessing the results of this approach through projects that have delivered tangible economic and social impact and strengthened Sharjah's regional and global competitiveness and investment appeal."
Real estate as the bedrock of growth
The UAE's non-oil GDP has seen substantial contributions from the real estate sector, which accounted for 7.6% of the nation's non-oil GDP. Shurooq has recorded 48.9% CAGR (compound annual growth rate) in real estate sales between 2018 and 2024, showcasing strong market growth. The authority's real estate projects include a total of 4,516 units across three world-class developments: Maryam Island, Sharjah Sustainable City, and Ajwan Khorfakkan. Of these, over 4,187 units have been sold. These projects have attracted buyers from more than 98 nationalities, contributing to Shurooq's total real estate investments and partnerships of AED 5 billion. This remarkable success has significantly shaped Sharjah's skyline and solidified Shurooq's role in the region's real estate sector.
Maryam Island: This flagship waterfront development, a joint venture with Eagle Hills Development, offers 3,083 units across 3.19 million square feet in Al Khan - Sharjah. The luxurious residential and commercial spaces have attracted both local and international buyers, underscoring the global appeal of Sharjah's real estate market.
Sharjah Sustainable City: This eco-friendly project, developed in partnership with Diamond Developers, spans over 3.29 million square feet. The project features 1,248 units that are expected to reduce water consumption by 30% and cut carbon emissions by approximately 20%. The city is a model for future sustainable urban planning, integrating renewable energy systems and offering solar-powered homes.
Ajwan Khorfakkan: Although still under development, the Ajwan Khorfakkan is poised to become a landmark in Sharjah's luxury real estate market. Upon completion, it will add 682,119 square feet of premium living space to the picturesque Khorfakkan community, featuring 185 residential units.
World-class hospitality to bring the world to Sharjah
As the UAE's tourism and hospitality industry continues to grow, the restaurants and hotels sector secured the fifth spot in the UAE's non-oil GDP, achieving a growth rate of 5.1% in the first half of 2024, driven by exceptional tourism activity across the country. Shurooq has played an instrumental role, developed 10 hospitality projects (7 operational, and 3 in the pipeline), with investments totalling AED 850 million. These projects, alongside world-class F&B experiences at top destinations across Sharjah, have enhanced the emirate's appeal. The authority's focus on high-quality infrastructure and luxury accommodations has played a key role in making Sharjah a preferred tourism destination.
The seven 'Sharjah Collection' properties, which are bespoke stays at heritage sites, eco-retreats, and desert escapes across the emirate, are leading sustainability practices and have been designed to focus on caring for their natural and cultural environment. To meet the growing demand of guests at these properties, Shurooq recently added 35 new rooms and simultaneously made a strategic foray into full in-house management and operation of these seven assets.
Najd Al Meqsar: This luxury heritage retreat in Khorfakkan spanning 17,654 sqm revitalises a 100-year-old village into seven exclusive units. Guests are invited to explore cultural landmarks such as the Al Meqsar Fortress and ancient petroglyphs nearby. In the restoration and development of this historic village — part of a broader restoration effort in the area in collaboration with the Sharjah Infrastructure Development Authority (Mubadara) — the utmost care has been taken to utilise the highest quality materials that not only honour the architectural legacy but also compliment the natural surroundings, and simultaneously provide attractive destinations and unique experiences for modern travellers.
Nomad: Spanning over 192,092 sqm, this eco-conscious retreat in Kalba features 20 trailers that promote sustainability. Guests can enjoy yoga, stargazing, and hiking amidst the stunning mountainous landscapes.
Al Badayer Retreat: A unique bedouin-inspired experience spanning 226,530sqm, offers 21 opulent units and 25 tents. Set against Sharjah's expansive dunes, it provides authentic activities like dune bashing and camel rides.
Kingfisher Retreat: A serene eco-luxury island getaway in Kalba, nestled within a natural reserve overseen by the Environment and Protected Areas Authority (EPAA). Spanning 678,265 sqm, the retreat offers private pools, bird watching, and nature walks — all designed to leave a minimal environmental footprint.
Moon Retreat: This glamping destination in Mleiha spans over 79,900 sqm, featuring geodesic domes and tents for an exclusive experience. Visitors can enjoy desert trekking and pristine stargazing opportunities.
Al Faya Retreat: Spanning over 15,211.4 sqm, this AED 20.7 million project redefines desert luxury with just five exclusive rooms — each thoughtfully restored to welcome modern travellers. Guests can unwind in the serene saltwater pool or enjoy personalised spa treatments and curated dining experiences.
Al Rayaheen Retreat: The enchanting ensemble of restored heritage houses, developed in collaboration with the Sharjah Institute for Heritage in Khorfakkan, spans 24,929 sqm and features 20 restored heritage homes the largest of these, formerly owned by the Al Mushtagal family, has been transformed into a restaurant, reception lounge, and mini museum. The remaining 19 residences seamlessly merge heritage architecture with modern comfort, thoughtfully designed and brought to life with a unique interior concept by an Emirati designer, offering exceptional nature-inspired activities and authentic local experiences.
Shurooq's investment in The Chedi Al Bait, Sharjah, has transformed heritage houses into a cultural gem. Located in the Heart of Sharjah, this 53-key luxury hotel, managed by GHM, spanning 10,069 sqm combines Emirati heritage with modern indulgence, and has contributed significantly to the emirate's tourism landscape. Its recently added Serai Wing, Bait Khalid Bin Ibrahim, introduces 12 additional rooms split between two houses within restored heritage compounds, with each house featuring private pools.
The authority's dedication extends beyond accommodations to include world-class F&B unit spaces developed across its destinations. Nine of these units are owned and operated by Shurooq, featuring curated culinary concepts led by renowned international chefs, while the remaining outlets have been strategically leased to a selection of local and international vendors. At their Kalba Beach destination, eight new units are currently underway. These distinctive dining experiences enhance the lifestyle appeal of Shurooq's luxury retreats, retail, and leisure destinations, enriching the overall journey for every guest.
Leisure and entertainment for an exceptional visitor experience
According to the market research firm MarkNtel Advisors, the UAE's leisure and entertainment sector is set to expand by a 9.7% CAGR through 2027. This forecast is attributed to the increased number of attractions set up in recent years and upcoming developments. Shurooq has been at the forefront of this growth, investing AED 870 million across 18 leisure and entertainment offerings, including five unique experiences. These destinations have redefined Sharjah's and the UAE's retail and leisure landscape. From bustling waterfront malls to serene island escapes and adrenaline-fueled adventures, these destinations cater to diverse visitor interests while enhancing the emirate's appeal as a premier lifestyle hub.
Khorfakkan Beach: Known for its beautiful coastline, Khorfakkan Beach is a hub for recreational tourism, attracting water sports enthusiasts and families alike. The beach also meets Blue Flag sustainability standards, reflecting its commitment to high environmental and safety benchmarks. In 2024, the 3.5 km-long development attracted a high volume of visitors, contributing to the local economy by enhancing tourism traffic. The addition of a modern amphitheatre, beachfront facilities, and a variety of local and international F&B outlets has further amplified its appeal.
Al Jabal Adventure: An upcoming premier destination for adventure seekers, nestled beside the stunning Soueifa Mountain and overlooking the scenic Luluyah Beach. The project will offer a zipline, hiking trails, mountain biking routes, and more, alongside panoramic views from the mountaintop observation deck & restaurant.
Al Heera Beach: The project has given Sharjah its latest 3.5-km beachfront destination, which offers exceptional dining and entertainment spread across 18 units.
Kalba Beach: Kalba Beach, nestled along Sharjah's eastern coast on a stretch of 700 metres, is a serene, eco-friendly destination designed to adhere to the Blue Flag sustainability standards. Surrounded by mangrove forests and a vibrant ecosystem, Kalba Beach offers a tranquil retreat and a unique opportunity to connect with nature.
Kalba Waterfront Mall: A joint venture between Shurooq and Eagle Hills Sharjah Development LLC, the development spans 183,800 sqm of pristine shoreline. The 130,015 sqm leasable area features 80 units, a variety of indoor and outdoor dining outlets, and an expansive promenade that lines the lagoon. The project also includes a 1,600 sqm play area.
Al Majaz Waterfront: A key leisure destination in UAE, spanning an area of 111,419 sqm. Strategically located along Sharjah's Khalid Lagoon, it is a popular attraction for tourists and residents, with its wide selection of international and local restaurants and cafes, green spaces, and walking and jogging tracks, making it an ideal spot for families and individuals of all ages. It also offers safe, dedicated play areas for children, as well as facilities for hosting cultural, artistic, and community events throughout the year.
Al Qasba: This 63,350 sqm centre of art, culture, and family-friendly experiences was one of Shurooq's initial major mixed-use attractions for families, tourists, and business owners. The growing appeal and footfall led Shurooq to carry out renovations in 2022.
Al Montazah Parks (126,000 sqm); Al Hafiya Park (135,500 sqm); The Flag Island (35,963 sqm); the three Flag Squares - 8,967 sqm in Kalba, 7,063 sqm in Khorfakkan, and 1,590 sqm in Dibba Al Hisn; Sharjah Boats and City Sightseeing projects; and Sky Adventures - a joint venture project and is the first officially licensed paragliding centre in the UAE - are other notable Shurooq projects in this vertical that continue to reinforce Sharjah's status as a hub of adventure, leisure and tourism in the UAE and the region.
Reaffirming Sharjah as a regional centre for arts and culture
As the UAE continues to prioritise investments in arts and culture, contributing to the diversification of its economy, Shurooq has made significant strides in enhancing Sharjah's position as a cultural hub. The UAE's cultural activities are an integral part of the nation's economic landscape, and Shurooq has contributed AED 447 million to arts and cultural initiatives. These investments have showcased the emirate's rich heritage and its commitment to promoting cultural understanding, solidifying Sharjah's role as a beacon of cultural excellence in the region.
Al Noor Island: A testament to Sharjah's commitment to blending nature with cultural attractions, Al Noor Island development has attracted thousands of visitors since its opening. The 45,470 sqm destination's stunning design and diverse offerings, including art installations and nature experiences, have made it a key attraction in the UAE.
Heart of Sharjah: The Heart of Sharjah, covering 3,403 sqm, is one of the emirate's most significant heritage destinations. The project enhances and reimagines the traditional fabric of Sharjah's old town centre, offering visitors an authentic experience rooted in culture and history. It features iconic landmarks such as Souq Al Arsah and Souq Al Shanasiyah, and serves as a hub for cultural attractions, art galleries, museums, and annual events like Sharjah Heritage Days.
Maraya Art Center and 1971 Design Space: These Shurooq assets serve as cornerstones of the emirate's vibrant cultural scene, offering public programmes, workshops, and regional and international art exhibitions. The 621.25 sqm 1971 Design Space at Flag Island promotes contemporary design, while the 621.62 sqm 'Maraya Art centre provides opportunities for creative exploration and artist development.
Through visionary projects that combine eco-tourism, adventure tourism, and cultural appreciation, Shurooq has led the way in sustainability.
House of Wisdom: To celebrate Sharjah's title as the UNESCO World Book Capital 2019, Shurooq built the House of Wisdom project under the directives of His Highness the Ruler of Sharjah. Spanning 40,391 sqm, this high-tech library seamlessly integrates sustainable design, offering over 100,000 books and state-of-the-art resources.
Mleiha National Park: One of Sharjah's premier ecotourism destinations and part of the UNESCO World Heritage Site Tentative List, recognised for its outstanding archaeological and cultural significance. The destination offers a unique blend of ancient history and adventure, set against the breathtaking backdrop of the central desert landscape. Visitors can enjoy a variety of experiences including camping and glamping, horse riding, stargazing, and thrilling activities such as paragliding. At the heart of the park is the Mleiha Archaeological & Visitor Center, which offers an immersive journey through the legacies of ancient civilisations that once inhabited the region. Through rich storytelling and interactive exhibits, the centre deepens understanding of the area's historical significance while encouraging exploration and discovery.
Sharjah FDI Office (Invest in Sharjah) attracting capital from all over the world
Since its establishment in 2016, the Sharjah FDI Office (Invest in Sharjah), Shurooq's flagship initiative, has been at the forefront of promoting Sharjah as a premier investment destination. Through a total of 373 strategic initiatives and collaborations, including 57 country visits, 89 delegations, 70 global participations, and hosting 42 events, the agency has played a pivotal role in boosting investor confidence and improving business access to Sharjah. Since its inception, Invest in Sharjah has successfully attracted 617 projects, contributing to the creation of 46,761 new jobs and generating a capital investment of AED 96.75 billion in key sectors that are crucial for Sharjah's economic diversification and future growth. These include advanced manufacturing, agri-food technology, mobility and logistics, health and wellbeing, GreenTech, human capital and innovation (education), as well as culture and tourism.
The Sharjah Investment Forum hosted annually by Invest in Sharjah - the largest event of its kind in the region - has been a cornerstone achievement, welcoming a significant number of guests, speakers, and attendees over the years. This platform has been instrumental in fostering dialogue, partnerships, and investment opportunities across various sectors.
Entrepreneurs at the forefront of Shurooq's investment vision
A key component of Shurooq's future vision is to create the maximum possible opportunity for the SME sector, particularly for local and homegrown entrepreneurs. Currently, the authority offers extremely affordable spaces between 40-500 sqm in Heart of Sharjah, alongside retail opportunities across Al Heera Beach, Khorfakkan Beach, Kalba Flagpole, amongst others.
Sharjah stands out as a prime destination for manufacturing, real estate, tourism, sustainability, culture and education. Its economy is nearly 96% non-oil based, and the emirate is playing a crucial role in the UAE's drive to achieve net-zero carbon emissions by 2050, leveraging its strategic location. In 2022 Sharjah's population reached 1.8m, with a focus on a young, urban demographic. The emirate's commitment to economic diversification is evident through initiatives supporting small businesses and investment in tourism. In 2024, the Global Startup Ecosystem Report (GSER) ranked the emirate 4th in the GCC and 7th in the MENA region in its startup ecosystem rankings.
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