Shurooq real estate sales hit $1.58bn as Sharjah projects close to sales
The results underline the growing domestic and international demand for Sharjah’s property and reinforce the emirate’s growing role in the UAE’s non-oil economy.
Across Maryam Island, Sharjah Sustainable City and Ajwan in Khorfakkan, 4,358 out of 4,520 residential units have been completed, reflecting investors’ continued confidence and appetite for development in a convenient, high-quality location.
Sharjah’s real estate boom
The performance also reinforces Sharjah Investment and Development Authority’s position as the largest contributor to the UAE’s non-oil GDP, with the real estate sector accounting for 7.6 percent of the national non-oil economy.
Between 2018 and 2024, Shurooq has recorded a compound annual growth rate of 48.9 percent in real estate sales, outperforming the broader market average.
This growth has been driven by consistent delivery, strategic location selection and strong investor confidence.
According to CBRE’s UAE Real Estate Market Review for Q2 2025, residential property prices across the UAE increased by 12.8 percent year-on-year.
Sharjah has recorded AED27.1bn ($7.38bn) in real estate transactions by 2024, marking a 14 percent increase compared to last year.
Globally, JLL predicts an 8 percent increase in real estate investment volume by 2025, supported by growing urban populations and continued demand for sustainable, mixed-use communities.
Shurooq sales performance
Maryam Island, Shurooq’s flagship waterfront and joint venture with Eagle Hills, has sold 3,037 out of 3,083 units, representing 99 percent of the sales volume. The total sales amount has reached AED3.14bn ($855m), with 1,278 units delivered and the remaining units scheduled for delivery in phases until 2028.
In the first half of 2025 alone, 138 units were sold for a total of AED220m ($59.9m), representing a 15 percent annual increase in the average price per square foot.
Covering 3.19 million square meters, the development continues to thrive with key projects under construction, including Jawaher, Crystal, Aysha and Mesk Residences.
Maryam Island has already delivered residential and commercial assets that have enhanced Al Mamzar’s waterfront and surrounding public space. Future phases will introduce additional residential areas alongside retail, leisure and supporting infrastructure designed to enhance 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 meters, the master-planned community includes renewable energy systems, water recycling and environmentally friendly infrastructure aimed at reducing water consumption and reducing carbon emissions.
Phases 1, 2 and 3 have been fully commissioned, while Phase 4 is scheduled for completion in the fourth quarter of 2025.
Beyond its built environment, the development continues to roll out sustainability programs and community engagement programs that support environmental care, social cohesion and measurable improvements in energy efficiency, water use and waste management.
Ajwan Khorfakkan
Ajwan Khorfakkan sold 104 of its 185 units, representing 62 percent of the available inventory and generating AED271m ($73.8m) in sales. The project will add 682,119 square feet of prime residential space to the Khorfakkan waterfront.
Once completed, Ajwan will bring luxury residences close to amenities including the UAE’s first water park on the east coast, a beach, retail, sports and leisure facilities.
Its location offers close proximity to Khorfakkan Beach, Khorfakkan Amphitheater, Shees Park and Al Rafisah Dam, and sits within a 90-minute drive of Sharjah International Airport and Dubai International Airport.
This connection, combined with Khorfakkan’s growing profile as a tourism and leisure destination and its emerging role as a gateway for maritime and cultural tourism, positions Ajwan as a unique lifestyle and investment proposition on the east coast of the UAE.
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 looking for long-term value.
“Strong sales across Maryam Island, Sharjah Sustainable City, and Ajwan reflect continued demand, a diverse investor base, and strategic alignment of our development with market needs.
“As we build on this momentum, we are preparing to launch new landmark projects that will further strengthen Sharjah’s competitiveness, develop its housing landscape, and support its vision of sustainable economic growth.”
