Real estate portfolio of Shurooq experiences robust growth at a 48.9% compound annual growth rate (CAGR)
Sharjah Investment and Development Authority (Shurooq), a key driver of growth in Sharjah, has reported a 48.9% compound annual growth rate in its real estate portfolio between 2018 and 2024. Over the past 15 years, Shurooq has sold more than 4,100 residential units to buyers from 98 different nations.
In an interview with Khaleej Times, Ahmed Obaid Al Qaseer, Shurooq's CEO, stated that their developments are designed for living, not just occupying. He emphasized human-scale design, integration with nature, cultural resonance, and accessibility as the cornerstones of their construction plan, ensuring that every project is built around the residents who will call it home.
With property investments exceeding Dh5 billion, Shurooq has solidified Sharjah's standing as a competitive investment destination in the UAE and beyond. Over the past 15 years, the entity has announced Dh7.2 billion in investments across 52 groundbreaking projects and experiences, transforming over 60 million square feet throughout the emirate.
Shurooq's hospitality sector, including the flagship hospitality brand Sharjah Collection and upcoming LUX resorts, sets new standards for luxury and heritage tourism. According to Al Qaseer, their hospitality philosophy transcends luxury; it is about memory-making, cultural immersion, and human connection. Through the Sharjah Collection, they've created sanctuaries that resonate emotionally, offering travelers a chance to unwind, reconnect with nature, and experience the authenticity of Emirati heritage.
One of Shurooq's significant projects is the Sharjah Sustainable City, where reduced utility bills, cleaner air, and green spaces for children contribute to daily life improvements for residents. Their upcoming resorts in partnership with The Lux Collective, LUX Khorfakkan and LUX Al Bridi, are poised to add a layer of refinement to the tourism scene, while retaining the spirit of place that defines Sharjah.
Shurooq partners with international brands like Eagle Hills and The Lux Collective, selecting partners for their shared values and technical capabilities. By collaborating with these partners, Shurooq elevates Sharjah's offerings while preserving the human element that characterizes their development philosophy.
Their cultural tourism projects, such as The Chedi Al Bait and Najd Al Meqsar, demonstrate Shurooq's commitment to authentic cultural preservation. Instead of displaying heritage behind glass, these projects invite visitors to live, experience, and feel the essence of the past while serving present-day needs.
Looking ahead, Shurooq remains focused on several key projects, including the oceanfront living development Ajwan in Khorfakkan, the low-impact, high-value tourism projects Nomad and Al Rayaheen Retreat, and the expansion of the Sharjah Collection. These projects aim to prioritize community impact, sustainability, and unique storytelling, signaling a shift from volume to value and from mass tourism to meaningful engagement.
Throughout his almost two-decade journey with Shurooq, Al Qaseer has maintained his original vision of creating spaces that bring people together. Leadership, according to him, involves listening to the needs of communities, the aspirations of the youth, and the land itself, while guiding teams with humility and clarity.
- In an interview, Shurooq's CEO, Ahmed Obaid Al Qaseer, emphasized that their real estate developments are designed for living, not just occupying.
- Over the past 15 years, Shurooq has sold over 4,100 residential units to buyers from 98 different nations.
- With property investments exceeding Dh5 billion, Shurooq has solidified Sharjah's standing as a competitive destination for real estate investment.
- Shurooq's hospitality sector, including the Sharjah Collection and upcoming LUX resorts, sets new standards for luxury and heritage tourism, offering travelers a chance to unwind and experience the authenticity of Emirati heritage.
- One of Shurooq's significant projects is the Sharjah Sustainable City, where reduced utility bills, cleaner air, and green spaces for children contribute to daily life improvements for residents.
- Shurooq partners with international brands like Eagle Hills and The Lux Collective, selecting partners for their shared values and technical capabilities.
- Through their cultural tourism projects, such as The Chedi Al Bait and Najd Al Meqsar, Shurooq demonstrates a commitment to authentic cultural preservation, inviting visitors to live, experience, and feel the essence of the past while serving present-day needs.
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