Shurooq's flagship real estate projects' sales hit record Dhs5.8b

 The Sharjah Investment and Development Authority (Shurooq) has reported exceptional results across its real estate portfolio, with total investments and partnerships reaching Dhs5.8 billion and 96.4% in units sold across three flagship developments – Maryam Island, Sharjah Sustainable City, and Ajwan in Khorfakkan. Together, these projects comprise 4,520 units, of which 4,358 have been sold to local and international buyers, reflecting the strong global appetite for Sharjah’s property market. 

The performance reinforces Shurooq’s position as a major contributor to the UAE’s non-oil GDP, with the real estate sector representing 7.6% of the national non-oil economy. Between 2018 and 2024, Shurooq achieved a 48.9% compound annual growth rate (CAGR) in real estate sales – significantly outpacing sector averages – supported by strong investor confidence and the delivery of high-quality, strategically located developments. 

According to CBRE’s UAE Real Estate Market Review (Q2 2025), the UAE’s residential property prices have risen 12.8% year-on-year, while Sharjah recorded Dhs27.1 billion in real estate transactions in 2024, a 14% increase over the previous year. This growth aligns with global trends, with JLL forecasting an 8% increase in real estate investment volume in 2025 worldwide, driven by urban population expansion and sustained interest in sustainable, mixed-use communities.

Maryam Island 

Maryam Island, a flagship waterfront development and joint venture with Eagle Hills, has sold 3,037 of its 3,083 units (99%), generating Dhs3.14 billion in total sales. To date, 1,278 units have been handed over, with the remaining units scheduled for phased delivery till 2028. 

Maryam Island has sold 3,037 of its 3,083 units (99%).

In the first half of 2025, 138 units were sold, totalling Dhs220 million, and marking a 15% year-on-year increase in average price per square foot. The development, spanning 3.19 million square feet, continues to progress with key projects under construction, including Jawaher, Crystal, Aysha, and Mesk Residences. 

Maryam Island has already delivered a range of residential and commercial assets that have contributed to the enhancement of Al Mamzar waterfront and the surrounding public realm. Future phases will see the continued delivery of high-quality residential units alongside additional community amenities, including retail, leisure, and supporting infrastructure designed to elevate the lifestyle offering and investment appeal of the development. 

Sharjah Sustainable City 

Developed in partnership with Diamond Developers, Sharjah Sustainable City has fully sold its 1,252 units, achieving Dhs2.5 billion in sales by the end of June 2025. Spanning over 3.29 million square feet, the master-planned community integrates renewable energy systems, water recycling solutions, and eco-friendly infrastructure designed to reduce water consumption and cut carbon emissions. Phases 1, 2, and 3 have been fully handed over, with Phase 4 construction scheduled for completion in Q4 2025. 

In addition to its built environment, Sharjah Sustainable City actively implements sustainability initiatives and community engagement activities that promote environmental stewardship and social cohesion. These efforts contribute to measurable improvements in resource efficiency, including reductions in energy and water consumption, as well as enhanced waste management practices across the community. 

Ajwan Khorfakkan 

Ajwan Khorfakkan has sold 104 of its 185 units (62%), generating Dhs271 million in sales. The development will add 682,119 square feet of premium living space to the Khorfakkan waterfront, strategically positioning it as one of the emirate’s most exclusive coastal communities. 

Once complete, Ajwan will deliver premium residences alongside planned amenities including the UAE’s first waterpark on the east coast, a marina, retail promenade, sports facilities, and leisure attractions. 

Sharjah Sustainable City

The development’s east coast location offers proximity to key attractions such as Khorfakkan Beach, Khorfakkan Amphitheatre, Shees Park, and Al Rafisah Dam. Ajwan is strategically positioned within a 90-minute drive from both Sharjah International Airport and Dubai International Airport.

This connectivity, combined with Khorfakkan’s growing profile as a premier tourist destination on the UAE’s east coast and its emerging global positioning as a gateway for leisure, cultural, and marine tourism, makes Ajwan a distinctive lifestyle and investment proposition compared to other waterfront projects in the region. 

Driving Sharjah’s urban transformation 

Commenting on the results, Yousif Ahmed Al Mutawa, Chief Real Estate Officer at Shurooq, said: “Our Dhs5.8 billion real estate portfolio underscores Shurooq’s position as a key driver of Sharjah’s urban transformation and a trusted partner for investors seeking long-term value. The strong sales performance across Maryam Island, Sharjah Sustainable City, and Ajwan reflects sustained demand, a diversified investor base, and the strategic alignment of our developments with market needs. 

Al Mutawa added: “As we build on this momentum, we are preparing to launch new landmark projects that will further strengthen Sharjah’s competitiveness, enhance its real estate landscape, and support its vision for sustainable economic growth." 

Shurooq has confirmed that new real estate project announcements are in the pipeline, reinforcing its strategy to strengthen Sharjah’s position in the regional real estate market through high-quality developments that combine commercial viability with community impact.