"sunrise" Recording 96% sales in 3 real estate projects worth 5.8 billion dirhams

Sharjah, December 22 / WAM / The Sharjah Investment and Development Authority “Shurooq” announced a strong performance across its real estate portfolio, recording a sales rate of 96.4% within three main projects: Maryam Island, Sharjah Sustainable City, and “Ajwan Khor Fakkan”, with a value of investments and partnerships amounting to 5.8 billion dirhams. Together these projects include 4,520 residential units, 4,358 units of which were sold to local and international investors, reflecting strong demand. And growing market confidence in the real estate sector in the Emirate of Sharjah.

This performance confirms Shurooq’s pivotal role as one of the main contributors to supporting the national non-oil economy, as the real estate sector represents about 7.6% of the UAE’s non-oil GDP. The authority’s data also showed that sales were achieved at a compound annual growth rate of 48.9% during the period 2018-2024, exceeding the average growth of the real estate market at the local level, which reflects the attractiveness of its projects, their high quality, and their strategic locations that meet the aspirations of various segments of investors.

According to CBRE’s review of the real estate market in the UAE during the second quarter of 2025, residential real estate prices increased by 12.8%, while the Emirate of Sharjah recorded real estate transactions worth 27.1 billion dirhams in 2024, an increase of 14% compared to the previous year. This growth comes in the context of global trends, as the expectations of the global real estate consulting company “JLL” indicated an increase in the volume of international real estate investments by 8% during 2025, driven by urban expansion. The accelerating demand for sustainable and mixed-use communities is increasing.

Yousef Ahmed Al Mutawa, Executive Director of Real Estate at Shurooq, said: Our portfolio of real estate projects confirms Shurooq’s position as a major driver of urban and urban transformation in Sharjah and a reliable partner for investors looking for long-term value. The strong sales performance of Maryam Island, Sharjah Sustainable City, and Ajwan Khor Fakkan reflects the continued demand, the diversity of the investor base, and the strategic fit between our projects and the needs of the market.

Maryam Island, the flagship project developed by Shurooq on the waterfront in partnership with Eagle Hills, recorded 99% sales, with 3,037 units sold out of 3,083, with a total sales of 3.14 billion dirhams. 1,278 units have been delivered so far, and the remaining units will be delivered in phases until 2028.

During the first quarter of 2025, 138 units were sold, worth 220 million dirhams, recording an annual increase of 15% in the average price per square foot. The area of ​​“Maryam Island” is 3.19 million square feet, and the development of the “Jawaher”, “Crystal”, “Aisha” and “Misk” buildings continues.

Maryam Island delivered a wide range of residential and commercial assets that contributed to enhancing the Al Mamzar waterfront and surrounding public spaces. The future phases will witness the continued delivery of high-quality residential units, along with additional community facilities, including retail and entertainment spaces and supporting infrastructure, designed to enhance the lifestyle and enhance the project’s investment attractiveness.

Sharjah Sustainable City, developed by Shurooq in partnership with Diamond Developers, recorded the sale of all 1,252 units, with total sales amounting to 2.5 billion dirhams until the end of June 2025. The project extends over an area of 3.29 million square feet and combines renewable energy systems, water recycling solutions, and environmentally friendly infrastructure, which contributes to rationalizing water consumption and reducing carbon emissions. The first three phases have been fully delivered. Phase 4 is expected to be completed in the last quarter of 2025.

In addition to its built environment, Sharjah Sustainable City implements initiatives in the field of sustainability and community activities that enhance environmental responsibility and social cohesion. These efforts contribute to achieving tangible improvements in the efficiency of resource use, which include reducing energy and water consumption and developing more effective waste management practices.

“Ajwan Khor Fakkan” achieved sales worth 271 million dirhams, with 104 units sold out of 185 units, equivalent to 62% of the total units. The project adds 682,119 square feet of luxury residential space to the waterfront in Khor Fakkan, strengthening its position as one of the most prestigious coastal communities in the emirate. Upon completion, Ajwan will offer luxury residential units in addition to quality facilities that include the first water park on the east coast, a marine marina, and a commercial promenade. Sports and entertainment facilities.

“Ajwan” benefits from its strategic location on the eastern coast and its proximity to prominent landmarks such as Khor Fakkan Beach, Khor Fakkan Amphitheater, Shees Park and Al Rafisah Dam. It is also characterized by easy access to it through Sharjah International Airport and Dubai International Airport. These advantages, in addition to Khor Fakkan’s status as a leading tourist destination and a global gateway to marine, cultural and recreational tourism, make “Ajwan” an exceptional investment opportunity compared to similar coastal projects in the region.

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