Shurooq drives its economic diversification agenda through large-scale tourism & real estate projects in 2020

Portfolio of ongoing projects include House of Wisdom, Maryam Island and Sharjah Sustainable City

Shurooq drives its economic diversification agenda through large-scale tourism & real estate projects in 2020
Shurooq drives its economic diversification agenda through large-scale tourism & real estate projects in 2020
Shurooq drives its economic diversification agenda through large-scale tourism & real estate projects in 2020
Shurooq drives its economic diversification agenda through large-scale tourism & real estate projects in 2020
Shurooq drives its economic diversification agenda through large-scale tourism & real estate projects in 2020
Shurooq drives its economic diversification agenda through large-scale tourism & real estate projects in 2020
Shurooq drives its economic diversification agenda through large-scale tourism & real estate projects in 2020
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Sharjah, UAE: The Sharjah Investment and Development Authority (Shurooq)has shared the new developments being witnessed across its portfolio of latest large-scale real estate, tourism, commercial and hospitality projects, in line with the gradual reopening of businesses across the UAE. 

Preventative measures to curb the spread of the coronavirus will be implemented effectively across all its sites to ensure the safety of Shurooq’s staff and workers. The move reinforces the criticality of business continuity and sustainability in the construction and infrastructure sectors to ensure the strength and resilience of Sharjah’s economy. 

Shurooq is developing an array of projects in strategic partnership with leading international companies that offer a range of investment opportunities. In doing so, Shurooq is furthering Sharjah’s economic diversification policy aimed at enhancing the investment environment across the emirate and making the most of its unique infrastructure to develop new projects in sectors like renewal energy, healthcare, logistics and hospitality.

Amongst the list of projects scheduled for completion this year and some of the signature projects that will be completedwithin the next two years includes the House of Wisdom, Sharjah Sustainable City and Avenues Mall Sharjah

Stimulating economic growth

Speaking on the implications of the reopening of business activities following temporary closures in the wake of the pandemic, HE Marwan bin Jassim Al Sarkal, Executive Chairman of Shurooq, said: “As businesses are gradually returning to normal, Shurooq is responding to the crisis and helping drive recovery to preserve the resilience and stability of the economyas well as ensure that the growth in all sectors is balanced. This aligns with the vision and directives of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, to bolster the status of the emirate as an outstanding business and investment destination at both regional and global levels.”

Al Sarkal remarked that Shurooq, together with other government entities across the emirate,contributes to the strong economic fundamentals of Sharjah’s economy with sustained infrastructural investment to create a favourable investment environment in Sharjah. He added that Shurooq’s numerous projects facilitate Sharjah's policy of economic diversification, in line with UAE’s growth strategy. 

Resuming construction activities to get on the fast-paced track to growth will ensure the sustainability of the development process and the consolidation of a knowledge-based economy that is capable of attracting assets and investments from around the world, he added.

Al Sarkal noted that the wide range offiscal and monetary incentives launched by the Sharjah government and the UAE to support businesses through the economic setbacks caused by the pandemic outbreak has helped stimulate strategic investment sectors and protected the UAE's economic stability. The impetus to ensure businesses continuity is reflected in the completion of projects on time, thereby safeguarding the interests of investors and clients alike, he added.

Al Sarkal pointed out that Sharjah’s economy continues to offer safe options forinvestors and that the launch of its new projects will further stimulate economic growth and boost inclusive social development.

The House of Wisdom:An iconic cultural destination

Launched on April 23, 2019, in celebration of the Sharjah World Book Capital 2019 – a prestigious UNESCO honour recognising Sharjah’s ongoing cultural journey and achievements, the House of Wisdom project reflects the importance given to books and knowledge in the emirate and highlights the value and significance of this distinguished title.

The project brings to the fore a new concept of the ‘future library’ where its physical form and cultural role will see the merging of the activity of reading and acquiring knowledge in a socially centred, collaborative and creative space.

The 12,000 sqm project, characterised by iconic design elements, contemporary Arabic architecture, and interactive facilities, is scheduled for inauguration in the fourth quarter of 2020.

Developed by Shurooq and designed by British architectural design and engineering firm, Foster & Partners, the House of Wisdomcomprises of indoor and outdoor reading spaces and will feature a 105,000-book collection when it is fully operational. 

This unique cultural destination also features ‘The Scroll’, a striking monument designed by renowned UK-based artist Gerry Judah.

A Sustainable City with green, smart services

Shurooq’s commitment tomeetSharjah’s vision to promote ‘green’ investments in the emirate hasled to the launch of Sharjah Sustainable City, in partnership with Diamond Developers.

Sharjah Sustainable City is the first fully integrated, Net Zero energy community in the emirate and adheres to the highest standards ofenvironmental, social, and economical sustainability.

The AED 2 billion project encompassing 7.2 million square feet comprises world-class environmentally friendly residential units, green houses with modern technology and vertical farms, driverless cars, a multi-service commercial centre and a school. The unique diversity in the mixed-use urban project represents a quantum leap in the form and function of Sharjah’s real estate sector.

Shurooq has revealed that phase one of the project, including 280 villas, is expected to be delivered in September2021. 

The city comprises a total of 1,120 multi-space villas in all phases, strategically located in Sharjah near Al Rahmaniya area, Sheikh Mohammad Bin Zayed Road (E311).

Maryam Island:  Ultimate leisure and lifestyle destination 

Located in downtown Sharjah overlooking the Arabian Sea, Maryam Island, is one of Sharjah’s largest real estate projects and isdeveloped by the ‘Eagle Hills Sharjah Development’, a joint venture between Shurooq and Eagle Hills.

Nestled in the centre of Sharjah, Maryam Island offers an array of luxury residential apartments, four- and five-star hotels, waterfront food and beverage outlets, cafés, retail shops, leisure facilities, a dock, and green spaces.

The AED 4.5 billion venture extends over an area of 460,000 sqm. 

Shurooq noted that Phase 1 of the project, Maryam Beach Residence, will be completed in December 2020. It will include 688 residential units, a swimming pool, children’s play zone and kids’ swimming pool, beach access, 40 retail outlets and F&B units. 

The second phase of the project, Maryam Gate Residences, will be delivered in 2022.

A compelling waterfront shopping experiencein Kalba

The Kalba Waterfront, the largest retail and first inclusive waterfront destination in Kalba developed by ‘Eagle Hills Sharjah Development’, a joint venture between Shurooq and Eagle Hills, is part of the Kalba Eco-Tourism Project. 

The AED 160 million Kalba Waterfront boasts a magnificent view of a serene lagoon lined by mangroves andhas a total built-up area of 17,000 sqm. The shopping mall features 86 retail outlets, a supermarket, a family entertainment centre, and a large food court.

It is designed as an integrated outdoor shopping experience and is scheduled for completion in the 2nd quarter of 2021.

Palace Al Khan: Seafront hospitality retreat

Located in downtown Sharjah overlooking the Arabian Sea and, Palace Al Khan is the third project developed under the ‘Eagle Hills Sharjah Development’ bannerand offers a spectacular blend of nature and state-of-the-art facilities. Complete with a spa, a fitness club, an outdoor swimming pool, conference facilities and parking, the AED 120 million Palace Al Khan comprises 88 keys in total, including executive suites.  

Avenues Mall Sharjah: Family-focusedretail offering

Shurooq is enhancingSharjah’s retail climate with the Avenues Mall Sharjah, a 65,000 sqm venture developed in partnership with leading Kuwaiti real estate developer, Mabanee, in a vibrant area near the Mughaider suburb at the junction of Sheikh Mohamed bin Zayed and Al Dhaid Road in Sharjah.

Set to be inaugurated in the fourth quarter of 2022, the project will feature 71 leasing units comprising 70 per cent retail and 30 per cent F&B outlets. 

Four new projects on anvil

Shurooq has also announced four new large-scale tourism and hospitality projects in Khorfakkan, Kalba, Al Dhaid and Mleiha that will provide nature-inspired experiences in the emirate’s central and eastern regions. This will include two five-star hotels at scenic locations in Sharjah’s eastern region – a 66-key property located along the Khorfakkan Beach which will also include the city’s first waterpark, and another property adjacent to Kalba Waterfront, the major retail project being developed in phases by Shurooq and Eagle Hills.

Shurooq will also be developing a 60-key experiential family retreat within the 14 sqkm Seih Al Bardi Kabeer safari park project currently being developed in the interiors of Al Dhaid. This is a first-of-its-kind hospitality offering set within a sprawling natural and wildlife reserve, which is expected to be home to 50,000 African animal species. 

The fourth project, Moon Retreat, will be a new feature at the Mleiha Archaeological and Eco-tourism destination, which is expected to welcome guests by the end of this year. This will be Shurooq’s second boutique hospitality offering in the Mleiha region with the first one being Mysk Al Faya Retreat, which is part of Sharjah Collection.

Shurooq emphasised that its forthcoming ambitious initiatives that pays attention to multiple stakeholders will enhance industry performance and continue to driveforeign investments to the emirate. The robustness of Sharjah’s economy is also shaped by its exclusive range of competitive incentives, inclusive services and facilities offered to investors. 

Shurooq pointed out that more leisure, tourism and hospitality projects will be announced later in Mleiha, Al Dhaid and Khorfakkan, following the resounding success of its venturessuch asThe Chedi Al Bait Sharjah, eco-tourism and hospitality offerings under the Sharjah Collection brand, Khorfakkan Beach and Mleiha Archaeological and Eco-tourism destinations.