The Sharjah Investment and Development Authority (Shurooq) has announced a remarkable performance in its real estate portfolio, achieving a sales rate of 96.4% across three key projects: Maryam Island, the Sustainable City of Sharjah, and Ajwan Khorfakkan, with total investments and partnerships amounting to AED 5.8 billion. These ventures collectively feature 4,520 residential units, of which 4,358 have been sold to local and international investors, reflecting strong demand and growing market confidence in Sharjah’s real estate sector.
This performance underscores Shurooq’s vital role as a key contributor to the non-oil national economy, with the real estate sector accounting for approximately 7.6% of the UAE’s non-oil GDP. According to the authority’s data, sales have exhibited a compound annual growth rate of 48.9% from 2018 to 2024, surpassing the average growth rate of the local real estate market, highlighting the attractiveness, quality, and strategic locations of its projects that meet the diverse needs of investors.
In a review by CBRE of the UAE’s real estate market during the second quarter of 2025, residential property prices rose by 12.8%. Sharjah recorded real estate transactions worth AED 27.1 billion in 2024, an increase of 14% compared to the previous year. This growth aligns with global trends, as forecasts from JLL point to an 8% increase in international real estate investment in 2025, driven by rapid urban expansion and rising demand for sustainable, mixed-use communities.
Urban Transformation Momentum
Yousef Ahmed Al Matroushi, Executive Director of Real Estate at Shurooq, stated, “Our real estate portfolio confirms Shurooq’s position as a main driver of urban transformation in Sharjah and a reliable partner for investors seeking long-term value. The strong performance of Maryam Island, the Sustainable City of Sharjah, and Ajwan Khorfakkan highlights ongoing demand, a diverse investor base, and the strategic alignment of our projects with market needs.”
Al Matroushi added, “Building on this success, we are preparing to launch new quality projects that will enhance Sharjah’s competitiveness and reinforce its real estate landscape, supporting its vision for sustainable economic growth.”
Maryam Island
Maryam Island, Shurooq’s flagship project developed in partnership with Eagle Hills, has recorded a 99% sales rate, with 3,037 units sold out of 3,083, totaling AED 3.14 billion in sales. To date, 1,278 units have been delivered, with the remaining units set to be handed over in phases until 2028.
In the first quarter of 2025, 138 units were sold for AED 220 million, reflecting a 15% annual increase in the average price per square foot. Maryam Island spans 3.19 million square feet and is still developing its buildings, including Jawaher, Crystal, Aisha, and Misk.
Sustainable City of Sharjah
The Sustainable City of Sharjah, developed by Shurooq in collaboration with Diamond Developers, has sold all of its 1,252 units for a total of AED 2.5 billion by the end of June 2025. The project covers an area of 3.29 million square feet and integrates renewable energy systems, water recycling solutions, and eco-friendly infrastructure to optimize water consumption and reduce carbon emissions. The first three phases have been fully delivered, with the fourth phase expected to be completed in the last quarter of 2025.
Ajwan Khorfakkan
Ajwan Khorfakkan achieved sales of AED 271 million, with 104 units sold out of 185, representing 62% of the total units. The project adds 682,119 square feet of luxurious residential space to the coastal frontage of Khorfakkan, enhancing its status as one of the most prestigious coastal communities in the emirate.