Sharjah: The Sharjah Investment and Development Authority (Shurooq) has reported exceptional results across its real estate portfolio, with total investments and partnerships reaching AED5.8 billion and achieving a 96.4% sale rate across three flagship developments - Maryam Island, Sharjah Sustainable City, and Ajwan in Khorfakkan.
According to Emirates News Agency, these projects encompass 4,520 units, of which 4,358 have been sold to local and international buyers, reflecting a strong global interest in Sharjah's property market. This performance underscores Shurooq's significant contribution to the UAE's non-oil GDP, with the real estate sector accounting for 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 surpassing sector averages. This growth was supported by robust investor confidence and the delivery of strategically located developments. According to CBRE's UAE Real Estate Market Review (Q2 2025), the UAE's residential property prices rose 12.8% year-on-year, while Sharjah recorded AED27.1 billion in real estate transactions in 2024, marking a 14% increase over the previous year. This growth aligns with global trends, with JLL forecasting an 8% increase in global real estate investment volume in 2025.
Maryam Island, a flagship waterfront development and joint venture with Eagle Hills, has sold 3,037 of its 3,083 units (99%), generating AED3.14 billion in total sales. To date, 1,278 units have been handed over, with remaining units scheduled for phased delivery through 2028. In the first half of 2025, 138 units were sold, totaling AED220 million, marking a 15% year-on-year increase in average price per square foot.
Sharjah Sustainable City, developed in partnership with Diamond Developers, has fully sold its 1,252 units, achieving AED2.5 billion in sales by June 2025. The community integrates renewable energy systems, water recycling solutions, and eco-friendly infrastructure designed to reduce water consumption and emissions. Phases 1, 2, and 3 have been fully handed over, with Phase 4 construction set for completion in Q4 2025.
Ajwan Khorfakkan has sold 104 of its 185 units (62%), generating AED271 million in sales. The development will offer 682,119 square feet of premium living space on the Khorfakkan waterfront, featuring amenities like the UAE's first waterpark on the east coast, a marina, retail promenade, and sports facilities.
Commenting on the results, Yousif Ahmed Al Mutawa, Chief Real Estate Officer at Shurooq, highlighted the portfolio's role in Sharjah's urban transformation and as a trusted partner for investors seeking long-term value. Al Mutawa noted that Shurooq is preparing to launch new landmark projects to further enhance Sharjah's real estate landscape and support its vision for sustainable economic growth.