Shurooq to announce major progress on three key realty ventures in Sharjah

As leading global consultancies predict the UAE’s real estate (realty) sector to remain resilient throughout 2023, the Sharjah Investment and Development Authority (Shurooq), is successfully delivering on comprehensive plans to make more world-class options available to potential investors, individual buyers and commercial outfits in the business- and family-friendly emirate of Sharjah, with three multi-billion dirham developments, namely, Sharjah Sustainable City, Maryam Island, and Khorfakkan Residences.

Shurooq will be sharing latest development updates and profitable investment opportunities across all these three projects, which will be showcased during its participation in the Sharjah Real Estate Exhibition - ACRES, taking place from May 25-28 in Expo Centre Sharjah.

Those visiting ACRES 2023 will witness first-hand the latest opportunities offered by the following Shurooq developments, exhibited at Hall 1.

The Khorfakkan residences, an embodiment of Shurooq’s unwavering vision to provide integrated infrastructure to the captivating eastern enclave of Sharjah, comprises six meticulously crafted residential buildings with a total of 184 units. This distinguished development offers a panoramic vista of the awe-inspiring Gulf of Oman, and has a projected completion date set for 2024. These state-of-the-art abodes exemplify contemporary living, seamlessly merging architectural finesse with the breathtaking natural surroundings, providing residents with an exceptional lifestyle defined by tranquillity and refinement.

These residential units will be serviced by retail stores, restaurants and a host of other outlets on the ground level.

The first sustainable master-planned residential community in Sharjah developed by Shurooq in partnership with Diamond Developers started welcoming residents in August 2022, marking the city’s transition from a real estate project into a real and active community.

Following an overwhelming response to the first three phases, the final phase of the city is launching during ACRES 2023. Visitors to the Shurooq pavilion at ACRES 2023 will have an opportunity to learn more about this eco-friendly city, which is powered with renewable energy and aspires to achieve Net Zero Energy.

Extending over 7.2 million square feet in Sharjah’s Al Rahmaniyah area, the city also treats 100 per cent of its wastewater for landscape irrigation. It maximises recycling to divert waste from landfills as well as produces its own chemical-free leafy greens and vegetables and promotes walkability and the use of clean mobility.

Maryam Island, a premier waterfront development in downtown Sharjah, is on track to become one of the city’s largest mixed-use real estate projects. This expansive development offers a diverse range of luxury residential apartments, along with waterfront food and beverage outlets, cafes, leisure facilities such as a fitness club, swimming pool, community centre, marina, and green spaces.

Phase 1 of the project has been successfully handed over, featuring 688 residential units, a swimming pool, children’s play zone, beach access, and a variety of food and beverage options. With phase 2 currently underway and scheduled for completion this year, Maryam Island continues to make remarkable progress, further enhancing its status as a thriving and sought-after destination.

A Shurooq-Eagle Hills joint venture, the development offers easy access to the entire emirate as well as to its neighbours, being 10 kms from the Dubai International Airport and 15 kms from the University of Sharjah.

Ahmed Obaid Al Qaseer, CEO at Shurooq, noted: “As the local, regional and global interest in the UAE’s real estate market continues to grow, particularly in the past three years with prospective buyers starting to view homes as places they not only live, but also work, exercise and educate, Shurooq has raised Sharjah’s profile as a sought-after and desirable destination where discerning individuals with a modern outlook can enjoy premium living at affordable prices. This is accentuated by the emirate’s lower cost of living and doing business, robust educational and healthcare infrastructure, family- and child-friendly spaces, an international airport that connects Sharjah to 75 destinations worldwide, and other competitive advantages”.

“Our participation at ACRES this year will provide us an exceptional opportunity to connect with both individual buyers and commercial investors who are looking to commit to the UAE’s and Sharjah’s fast-growing, stable and profitable real estate sector, and share the latest developments on our exhibiting projects to match their interest,” he added.

Guided by the traditions of the Emirate of Sharjah and driven by futuristic innovation, Shurooq boasts a rapidly expanding and diverse portfolio of developments in six key market sectors including hospitality, real estate, leisure, arts & culture, and others, across Sharjah’s western, central and eastern regions.

Shurooq’s portfolio of projects reflects its mission to enhance long-term investment prospects offered by Sharjah to businesses, SMEs and startups across a wide range of sectors. Furthering this goal, the authority has been driving Sharjah’s Public Private Partnerships (PPPs) through joint ventures with key local and global brands.

Through each of its focus sectors, Shurooq takes the responsibility of driving investments and creating new partnerships that effectively boost Sharjah’s economy and FDI growth, working closely in partnership with numerous local and federal entities contributing Sharjah and UAE’s economic standing and development.