Shurooq real estate sales hit $1.58bn as Sharjah projects near sell-out

The results underline growing local and international demand for Sharjah property and reinforce the emirate’s expanding role in the UAE’s non-oil economy.

Across Maryam Island, Sharjah Sustainable City and Ajwan in Khorfakkan, a combined 4,358 of 4,520 residential units have been sold, reflecting sustained investor confidence and appetite for strategically located, high-quality developments.

Sharjah real estate growth

The performance further cements Sharjah Investment and Development Authority’s position as a major contributor to the UAE’s non-oil GDP, with the real estate sector accounting for 7.6 per cent of the national non-oil economy.

Between 2018 and 2024, Shurooq recorded a compound annual growth rate of 48.9 per cent in real estate sales, significantly outperforming wider market averages.

This growth has been driven by consistent delivery, strategic site selection and strong investor confidence.

According to CBRE’s UAE Real Estate Market Review for Q2 2025, residential property prices across the UAE rose 12.8 per cent year-on-year.

Sharjah recorded AED27.1bn ($7.38bn) in real estate transactions during 2024, marking a 14 per cent increase compared with the previous year.

Globally, JLL forecasts an 8 per cent rise in real estate investment volumes in 2025, supported by urban population growth and sustained demand for sustainable, mixed-use communities.

Shurooq sales performance

Maryam Island, Shurooq’s flagship waterfront development and a joint venture with Eagle Hills, has sold 3,037 of its 3,083 units, representing a 99 per cent sell-through rate. Total sales value has reached AED3.14bn ($855m), with 1,278 units already handed over and remaining units scheduled for phased delivery through to 2028.

In the first half of 2025 alone, 138 units were sold for a total of AED220m ($59.9m), reflecting a 15 per cent year-on-year increase in average price per square foot.

Spanning 3.19 million square feet, the development continues to advance with key projects under construction, including Jawaher, Crystal, Aysha and Mesk Residences.

Maryam Island has already delivered residential and commercial assets that have enhanced the Al Mamzar waterfront and surrounding public realm. Future phases will introduce further residential units alongside retail, leisure and supporting infrastructure designed to strengthen lifestyle appeal and long-term investment value.

Sharjah Sustainable City

Developed in partnership with Diamond Developers, Sharjah Sustainable City has fully sold all 1,252 residential units, generating AED2.5bn ($681m) in sales by the end of June 2025.

Covering more than 3.29 million square feet, the master-planned community integrates renewable energy systems, water recycling and eco-friendly infrastructure aimed at reducing water consumption and lowering carbon emissions.

Phases 1, 2 and 3 have been fully handed over, with Phase 4 scheduled for completion in the fourth quarter of 2025.

Beyond its built environment, the development continues to roll out sustainability initiatives and community engagement programmes that support environmental stewardship, social cohesion and measurable improvements in energy efficiency, water use and waste management.

Ajwan Khorfakkan

Ajwan Khorfakkan has sold 104 of its 185 units, representing 62 per cent of available inventory and generating AED271m ($73.8m) in sales. The project will add 682,119 square feet of premium residential space to the Khorfakkan waterfront.

Once completed, Ajwan will deliver high-end residences alongside amenities including the UAE’s first east coast waterpark, a marina, retail promenade, sports facilities and leisure attractions.

Its location offers proximity to Khorfakkan Beach, Khorfakkan Amphitheatre, Shees Park and Al Rafisah Dam, and sits within a 90-minute drive of Sharjah International Airport and Dubai International Airport.

This connectivity, combined with Khorfakkan’s growing profile as a tourism and leisure destination and its emerging role as a gateway for marine and cultural tourism, positions Ajwan as a distinctive lifestyle and investment proposition on the UAE’s east coast.

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.

“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.”