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The total value of real estate projects affiliated with the Sharjah Investment and Development Authority (Shurooq) amounted to about 7 billion dirhams, according to Ahmed Obaid Al-Qaseer, Executive Director of the Authority. Al-Qaseer said in an interview with Al-Khaleej newspaper that 70% of Shurooq’s projects have been delivered, indicating that the authority is about to launch a number of projects during the coming period.
Al-Qasir added that what distinguishes the Emirate of Sharjah is the harmonious work between all sectors, its institutions and bodies, to translate the vision of His Highness Sheikh Dr.
Al-Qasir confirmed that the Sharjah Investment and Development Authority (Shurooq) has achieved growth in its investment projects portfolio since the beginning of 2023 and an increase in growth rates, thus contributing to enhancing the growth of investment sectors in the Emirate of Sharjah, consolidating the principle of diversifying sources of income for the emirate, and achieving integration in the economic system between its various cities. Where the authority launched a number of investment projects in various regions, through which it strengthened its role as one of the elements of the comprehensive development that Sharjah is witnessing in various non-oil productive sectors, especially industry, retail, real estate and tourism.
Al-Qasir explained that the authority is keen, through an integrated plan, on the strategic geographical distribution of projects in all cities of the emirate, benefiting from the leadership of the UAE, which constituted a starting point for various economic sectors towards expansion, and from the economic growth of Sharjah, and the authenticity of its unique cultural identity that characterizes the emirate.
Various investment projects
The Executive Director of “Shurooq” pointed out that the new projects that the authority began to develop included the various regions of the Emirate of Sharjah, and were distributed to the real estate sectors, hospitality, entertainment, retail, and various tourism sectors, such as ecotourism, heritage and adventure tourism, which focus on the emirate’s assets. The historical and heritage legacies, and the cultural and civilizational project of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah.
integrated development policy
Regarding the impact of the general economic situation on companies and sectors in general, and how it reflects on the general development situation of the emirate and the future plans of “Shurooq”, Al-Qusayr explained that the development policy of the Emirate of Sharjah depends on the balanced growth of the various business sectors, because it guarantees the principle of economic diversification of the sectors, based on policies that take into account The social dimension of development, in the sense that development, including the projects it includes, serves the priorities of the population and their basic needs, and that the image of the emirate is established as a leading cultural, scientific and social center in the region and the world.
Al-Qusayr explained that the Emirate of Sharjah’s dealings with the investment sector proves its leadership in setting deliberate development policies, and this was evident through its continuation in opening major development, economic and tourism projects during the past few years, which provided an encouraging climate for investment.
As for the federal level, Al-Qusayr indicated that the leadership of the UAE constituted a starting point for various economic sectors towards expansion and achieving progressive growth results, to be the fastest growing in the region. This, in turn, heralds a phase of continuous growth that enhances Shurooq’s strategies for its long- and short-term projects and plans.
Ahmed Al-Qasir stressed that the general economic growth of the Emirate of Sharjah encourages local and foreign investments, raises the purchasing power of the public, and contributes to the establishment of real estate projects.
Maryam Island
And when asked about the “Maryam Island” project, and its latest construction developments and ready-made units in it, Al-Qasir said: “Maryam Island is considered one of the distinguished projects in the Emirate of Sharjah, containing 4,000 housing units, as two buildings were delivered during the previous period, and two buildings will be delivered this year, as proposed This year, the Authority built the Crystal Building on the waterfront of Al Mamzar, as part of its endeavor to meet the needs of the real estate market in the emirate, stressing that the success of Shurooq in gaining the trust of its customers, who accept its housing units, proves the success of its development strategies in its various projects extending to the regions and cities of the Emirate of Sharjah. with all its environmental and cultural components.
Sharjah Sustainable City
With regard to Sharjah Sustainable City, Al-Qaseer said that the authority, in cooperation with Diamond Developers, launched the last phase of the complex, which includes 300 housing units, indicating that the phase has been handed over to buyers, and the second phase of the project has been sold to be delivered at the end of this year.
Attractive investment prospects
Al-Qasir concluded by commenting on the directives of the Sharjah Investment and Development Authority (Shurooq) regarding new projects and the sectors targeted by the authority, and that the authority works in accordance with the plans and visions of the Sharjah government to consolidate its position as a preferred destination for investors and developers in various investment sectors, and hence future projects work within this framework. The general orientation of the Emirate, taking into account that Shurooq is one of the elements for strengthening Sharjah’s position at the local, regional and global levels, and one of its leading development tools in developing the emirate’s investment and real estate climate.
