Shurooq sees real estate portfolio expand at 48.9% CAGR

Khaleej Times

5 days ago

The real estate portfolio of Sharjah Investment and Development Authority (Shurooq) has been growing at a compound annual growth rate of 48.9 per cent between 2018 and 2024. The entity has sold over 4,100 residential units to buyers from more than 98 nationalities.
'Our developments are designed to be lived in — not just occupied. We focus on human-scale design, integration with nature, cultural resonance, and accessibility, ensuring that every project is built around the people who will call it home,' Ahmed Obaid Al Qaseer, CEO of Shurooq, told Khaleej Times in an interview.
With investments exceeding Dh5 billion in real estate alone, Shurooq reinforcing Sharjah's position as a competitive investment destination in the UAE and beyond. Over the past 15 years, Shurooq has announced Dh7.2 billion in investments across 52 groundbreaking projects and experiences, transforming over 60 million square feet throughout the emirate.
Shurooq's hospitality portfolio, including properties of Shurooq's flagship hospitality brand, Sharjah Collection, and the upcoming LUX resorts, has set new benchmarks for luxury and heritage tourism. 'Our hospitality philosophy goes beyond luxury; it is about memory-making, cultural immersion, and human connection. With the Sharjah Collection, we have created sanctuaries that speak to the soul — destinations where travellers can slow down, reconnect with nature, and experience the authenticity of Emirati heritage. Whether it's glamping in Mleiha or waking up to the sounds of nature in Kalba, each destination is a carefully crafted narrative,' Al Qaseer said.
A major project by Shurooq is Sharjah Sustainable City. 'Beyond the solar panels and energy-efficient infrastructure, what makes this project remarkable is its ability to empower families to live healthier, more meaningful lives. Reduced utility bills, cleaner air, green spaces for children to play — these are tangible benefits that improve the daily lives of residents,' Al Qaseer said.
The entity's upcoming resorts in partnership with The Lux Collective, LUX Khorfakkan and LUX Al Bridi, are expected to introduce a new layer of refinement to the tourism scene, while retaining the spirit of place that defines us. 'What gives us a competitive edge is our ability to create emotional touchpoints — guests leave with stories. We curate experiences that honour the land, its people, and its future,' Al Qaseer said.
Shurooq has successfully partnered with international brands such as Eagle Hills and The Lux Collective. 'Partnerships are, at their best, about shared purpose. We select our partners at Shurooq for their technical capability, but most importantly for their alignment with our values. Our collaboration with Eagle Hills on Maryam Island and with The Lux Collective on our upcoming resorts is built on mutual respect and a shared ambition to uplift communities. These alliances allow us to elevate Sharjah's offerings while preserving the human element that is central to our development philosophy,' Al Qaseer said.
Shurooq's cultural tourism with heritage destinations include projects like The Chedi Al Bait and Najd Al Meqsar. 'Heritage is not something to be showcased behind glass — it must be lived, experienced, and felt. This belief drives our work in cultural preservation. At The Chedi Al Bait, Sharjah, and Najd Al Meqsar in Khorfakkan, we have transformed historic structures into living spaces that honour the past while serving the present. We restored buildings not just for architectural value, but for the stories they hold and the lives they once nurtured,' Al Qaseer said.
As Shurooq looks ahead, a number of projects remain in focus. 'We are excited about Ajwan in Khorfakkan, which will transform the East Coast into a haven of oceanfront living. Projects like Nomad and Al Rayaheen Retreat reflect our belief in low-impact, high-value tourism that respects the natural environment. The expansion of the Sharjah Collection, and our continued partnerships with luxury brands, signal a shift from volume to value — from mass tourism to meaningful engagement. Our upcoming projects will continue to prioritise community impact, sustainability, and unique storytelling,' Al Qaseer said.
Al Qaseer began his journey in Shurooq nearly two decades ago. 'I began with the vision to create spaces that bring people together. Today, as CEO of Shurooq, that vision remains unchanged, though it has grown in scale and depth. Leadership, to me, is about listening — listening to the land, to the needs of our communities, and to the aspirations of our youth. It is about building teams who share a sense of purpose, and guiding them with humility and clarity,' he said.