The Sharjah Investment and Development Authority (Shurooq) has announced strong performance across its real estate portfolio, with total investments and partnerships surpassing AED5.8 billion and sales reaching 96.4 percent across its three flagship developments: Maryam Island, Sharjah Sustainable City and Ajwan Khorfakkan.
The three projects together comprise 4,520 residential units, of which 4,358 have been sold to both local and international investors, highlighting continued global confidence in Sharjah’s property market.
This performance further strengthens Shurooq’s role as a key contributor to the UAE’s non-oil economy, with real estate accounting for 7.6 percent of national non-oil GDP. Between 2018 and 2024, Shurooq recorded a compound annual growth rate (CAGR) of 48.9 percent in real estate sales, significantly exceeding sector averages, supported by investor confidence and high-quality, strategically located developments.
Market data reflects this positive momentum. According to CBRE, UAE residential property prices increased by 12.8 percent year-on-year, while Sharjah recorded AED27.1 billion in real estate transactions in 2024, marking a 14 percent annual increase. Globally, JLL forecasts an 8 percent rise in real estate investment volumes in 2025, driven by urbanisation and demand for sustainable, mixed-use communities.
Maryam Island, Shurooq’s flagship waterfront project developed in partnership with Eagle Hills, has achieved sales of 3,037 out of 3,083 units, representing 99 percent occupancy and generating AED3.14 billion in sales. So far, 1,278 units have been delivered, with remaining units scheduled for phased handover through 2028. In the first half of 2025 alone, 138 units were sold for AED220 million, alongside a 15 percent year-on-year increase in average price per square foot. Construction continues across several developments, including Jawaher, Crystal, Aysha and Mesk Residences.
Sharjah Sustainable City, developed with Diamond Developers, has fully sold all 1,252 units, generating AED2.5 billion in sales by the end of June 2025. Covering more than 3.29 million square feet, the master-planned community incorporates renewable energy, water recycling systems and eco-friendly infrastructure. Phases 1, 2 and 3 have been completed, with Phase 4 scheduled for delivery in the fourth quarter of 2025. The community also actively promotes sustainability initiatives that enhance energy efficiency, reduce water consumption and improve waste management.
Ajwan Khorfakkan has sold 104 of its 185 units, achieving 62 percent sales and generating AED271 million. The development will add more than 682,000 square feet of premium waterfront living and is set to become one of the emirate’s most exclusive coastal communities. Planned amenities include the UAE’s first east coast waterpark, a marina, retail promenade, sports facilities and leisure attractions.
Strategically located on the east coast, Ajwan benefits from proximity to major landmarks such as Khorfakkan Beach, the Amphitheatre, Shees Park and Al Rafisah Dam, while remaining within a 90-minute drive of both Sharjah and Dubai international airports. Its location supports Khorfakkan’s growing reputation as a leading destination for tourism, culture and marine leisure.
Commenting on the results, Yousif Ahmed Al Mutawa, Chief Real Estate Officer at Shurooq, said the AED5.8 billion portfolio reflects the authority’s role in driving Sharjah’s urban development and delivering long-term value for investors. He added that upcoming landmark projects will further enhance Sharjah’s real estate competitiveness and support sustainable economic growth.
