Shurooq Real Estate Sales Reach AED 5.8 Billion Across Maryam Island, Sharjah Sustainable City And Ajwan

The Sharjah Investment and Development Authority (Shurooq) is reporting strong performance across its Sharjah real estate portfolio, with investments and partnerships reaching AED5.8 billion. Across three flagship projects, 96.4% of units are sold, highlighting demand from local and international buyers and reinforcing Shurooq’s role in the UAE’s non-oil economic growth.

Maryam Island, Sharjah Sustainable City, and Ajwan in Khorfakkan together include 4,520 units, of which 4,358 are sold. Real estate contributes 7.6% of the UAE’s non-oil GDP, and between 2018 and 2024 Shurooq’s real estate sales post a 48.9% compound annual growth rate, outpacing broader sector performance.

The wider UAE real estate market also continues to strengthen. CBRE’s UAE Real Estate Market Review (Q2 2025) records a 12.8% year-on-year rise in residential prices. Sharjah achieves AED27.1 billion in real estate transactions during 2024, a 14% increase on 2023, reflecting sustained demand and investor interest.

Global trends support this momentum. JLL forecasts an 8% increase in worldwide real estate investment volumes during 2025, linked to growing urban populations and steady appetite for sustainable, mixed-use communities. Shurooq’s Sharjah real estate strategy aligns with these trends through master-planned projects that prioritise liveability, environmental performance, and long-term investor value.

Across Shurooq’s key Sharjah real estate developments, performance metrics show broad-based strength, as summarised below.

Maryam Island, a joint venture with Eagle Hills, is a central component of Shurooq’s Sharjah real estate activities. The waterfront project sells 3,037 of its 3,083 units, a 99% sell-through rate, generating AED3.14 billion in total sales. So far, 1,278 units are handed over, with phased deliveries extending to 2028.

In the first half of 2025, Maryam Island records sales of 138 units worth AED220 million, alongside a 15% year-on-year increase in average price per square foot. The 3.19 million-square-foot development continues active construction on Jawaher, Crystal, Aysha, and Mesk Residences, while supporting the wider enhancement of the Al Mamzar waterfront.

Sharjah Sustainable City, developed with Diamond Developers, has sold all 1,252 units, achieving AED2.5 billion in sales by the end of June 2025. Spanning over 3.29 million square feet, the master-planned community incorporates renewable energy systems, water recycling technologies, and infrastructure designed to reduce water use and cut carbon emissions.

Phases 1, 2, and 3 of Sharjah Sustainable City are fully handed over, while Phase 4 construction is scheduled to finish in Q4 2025. Beyond the physical assets, the community runs sustainability programmes and engagement initiatives that encourage environmental responsibility, strengthen social ties, and deliver measurable reductions in energy, water consumption, and waste generation.

Ajwan Khorfakkan is another pillar of Shurooq’s Sharjah real estate portfolio. The project has sold 104 of 185 units, equivalent to 62%, generating AED271 million in sales. The development will add 682,119 square feet of residential space to the Khorfakkan waterfront, aiming to position the area as an exclusive coastal community.

Sharjah real estate outlook and strategic positioning

Once complete, Ajwan will provide residential units alongside planned amenities including the UAE’s first waterpark on the east coast, a marina, retail promenade, sports facilities, and other leisure offerings. The location is near Khorfakkan Beach, Khorfakkan Amphitheatre, Shees Park, and Al Rafisah Dam, and is around 90 minutes from both Sharjah International Airport and Dubai International Airport.

Khorfakkan’s growing reputation as a tourist destination on the UAE’s east coast, and its emerging role as a gateway for leisure, cultural, and marine tourism, supports Ajwan’s positioning as a distinct lifestyle and investment option compared with other regional waterfront projects within Sharjah real estate.

Commenting on the results, Yousif Ahmed Al Mutawa, Chief Real Estate Officer at Shurooq, said, "Our AED5.8 billion real estate portfolio underscores Shurooq’s position as a key driver of Sharjah’s urban transformation and a trusted partner for investors seeking long-term value. The strong sales performance across Maryam Island, Sharjah Sustainable City, and Ajwan reflects sustained demand, a diversified investor base, and the strategic alignment of our developments with market needs.

Al Mutawa added, "As we build on this momentum, we are preparing to launch new landmark projects that will further strengthen Sharjah’s competitiveness, enhance its real estate landscape, and support its vision for sustainable economic growth." Collectively, the portfolio’s performance highlights Shurooq’s continuing contribution to Sharjah real estate expansion and to the UAE’s broader non-oil economic diversification.

With inputs from WAM