The Sharjah Investment and Development Authority (Shurooq) has announced an impressive Dh7.2 billion in investments across 52 innovative projects, significantly transforming over 60 million square feet throughout the emirate of Sharjah. This announcement coincides with Shurooq’s 15-year anniversary, marking a journey characterized by sustainable growth, community impact, and cultural preservation.

Shurooq’s focus has been on creating destinations that foster meaningful connections between people and their environment, rather than merely expanding its footprint. The authority’s projects, ranging from real estate developments to immersive experiences, have been instrumental in positioning Sharjah as a vibrant and future-ready destination. Key achievements include the development of 7.7 kilometers of beachfront, offering unique coastal retreats that celebrate the emirate’s natural beauty.

The impact of Shurooq’s initiatives extends beyond financial metrics, generating approximately 5 000 jobs, including 1 095 jobs through joint ventures. The authority has also established significant collaborations with 10 local and international partners, reflecting Shurooq’s broad influence across various sectors. Projects in the real estate, tourism, and entertainment sectors have reinforced Sharjah’s reputation as an attractive and dynamic destination, with three major real estate projects involving investments of Dh5 billion and 10 hospitality projects worth Dh850 million.

In the retail and entertainment sectors, Shurooq has initiated 18 projects with investments surpassing Dh870 million, while the arts and culture sector has recorded five projects that have attracted investments totaling Dh447 million. In addition to these, Shurooq has participated in six joint ventures with strategic partners across diverse sectors, underscoring its commitment to sustainable growth and a diversified investment portfolio.

Anchored by the vision of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the leadership of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq, the authority consistently emphasizes sustainable economic growth and diversification. Sheikha Bodour highlighted that Shurooq’s journey has been driven by a commitment to creating sustainable value for Sharjah, with each project aimed at enhancing the emirate’s appeal as a global destination for business and tourism.

Ahmed Obaid Al Qaseer, CEO of Shurooq, emphasized the entity’s goal to be a partner in shaping Sharjah’s future through integrated development projects that prioritize people and place. He noted that their strategy focuses on diversity, sustainability, and impactful partnerships, with ongoing projects delivering tangible economic and social benefits.

Shurooq has also made significant contributions to the UAE’s non-oil GDP, with the real estate sector accounting for 7.6% of the nation’s non-oil GDP. The authority achieved a remarkable 48.9% compound annual growth rate in real estate sales from 2018 to 2024, showcasing strong market growth. The real estate projects include 4 516 units across three key developments: Maryam Island, Sharjah Sustainable City, and Ajwan Khorfakkan, with over 4 187 units sold and buyers from more than 98 nationalities.

Among the notable developments is Maryam Island, a waterfront project in partnership with Eagle Hills Development, featuring 3 083 units across 3.19 million square feet. Sharjah Sustainable City, developed with Diamond Developers, encompasses over 3.29 million square feet with 1 248 eco-friendly units, aiming to reduce water consumption by 30% and carbon emissions by 20%. Ajwan Khorfakkan, still under development, plans to add 682 119 square feet of luxury living space.

In the hospitality sector, Shurooq has invested Dh850 million in 10 projects, enhancing the emirate’s appeal as a tourism destination. The seven “Sharjah Collection” properties focus on sustainability and heritage, offering unique stays at various sites, including Najd Al Meqsar, a luxury retreat revitalizing a historic village, and Al Badayer Retreat, inspired by Bedouin traditions.

Shurooq’s investment in The Chedi Al Bait has also transformed heritage houses into a luxury hotel, significantly enriching Sharjah’s tourism landscape. The hotel features 53 keys and a recently added Serai Wing with 12 additional rooms.

Moreover, Shurooq has heavily invested in leisure and entertainment, with Dh870 million allocated to 18 projects, reshaping Sharjah’s retail and leisure landscape. These include Khorfakkan Beach, which has met Blue Flag sustainability standards, and Al Jabal Adventure, an upcoming destination for thrill-seekers.

In the arts and culture sector, Shurooq has contributed Dh447 million, promoting Sharjah as a cultural hub. Projects like Al Noor Island and Heart of Sharjah enhance the emirate’s heritage and cultural offerings.

Lastly, the Sharjah FDI Office has attracted 617 projects since its establishment, creating 46 761 new jobs and generating a capital investment of Dh96.75 billion, further diversifying Sharjah’s economy and promoting sustainable growth across key sectors.