Shurooq driving Sharjah economy
Organisation attributes success to a strong investment environment
Over the past nine years, Sharjah Investment and Development Authority (Shurooq) has accrued a portfolio of completed and ongoing projects worth Dh7.6 billion extending across an area of 11.74 million square metres, the organisation announced yesterday.
“The policies and vision of [His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah] have strengthened the investment environment, paving the way for a strong economy and immense future growth. Sharjah’s economic strategy is based on diversification, understanding the basic needs of investors and the desire to improve the style and quality of life for all residents,” said Marwan Bin Jasem Al Sarkal, Shurooq Executive Chairman.
He attributed much of Shurooq’s success to the farreaching approach it has adopted in planning and management as well as in the continuous development of its human resources as part of ongoing efforts to enhance the emirate’s competitiveness as an ideal place to work, invest and live.
“Shurooq focused on constructive cooperation and integration with various state departments and agencies across the UAE for the benefit of all emirates, inspired by vision of the late Shaikh Zayed Bin Sultan Al Nahyan, the founder of the nation,” he said.
Shurooq’s portfolio includes several large-scale projects including Al Qasba, Al Majaz Waterfront and Al Montazah Amusement and Waterpark, as well as the iconic Al Noor Island.
Shurooq continues to make achievements in 2018, during which it revealed the establishment of a new company, Eagle Hills Sharjah, in a strategic partnership with Abu Dhabi-based leading developer Eagle Hills. Under this new joint venture, Shurooq launched three largescale projects worth Dh2.7 billion to be developed by the new company.
The three projects include Maryam Island, Palace Al Khan and Kalba Waterfront, all of which are focused on promoting Sharjah’s tourism sector and celebrating the emirate’s heritage.
Other projects currently under construction include the “Heart of Sharjah”, the largest historical preservation and restoration project in the region. Planned over five phases to be completed by 2025, the Heart of Sharjah is home to a variety of tourist facilities such as Souq Al Shanasiyah and Al Bait Hotel.