Ahmed Obaid Al Qaseer, CEO of Shurooq, shares how projects like Ajwan are boosting Sharjah’s economy and making it more attractive worldwide
In Sharjah’s growing landscape, Ahmed Obaid Al Qaseer, the CEO of the Sharjah Investment and Development Authority (Shurooq), stands out with his clear vision and smart strategies. In a recent talk, Al Qaseer explained how Shurooq is working to promote sustainable growth, innovation, and economic success in Sharjah. Shurooq’s work covers real estate, tourism, eco-friendly projects, and preserving culture. They aim to balance traditional values with new ideas to make Sharjah more appealing globally while ensuring the well-being of its people and protecting its unique environment and culture.
What is Shurooq’s Main Goal for Development?
Shurooq is led by visionary leaders in Sharjah and the UAE. The authority focuses on continuously improving Sharjah’s image by using smart strategies in areas like profitability, sustainability, people’s growth, and quality of life.
Shurooq’s diverse projects, especially in real estate, are key to this vision. Projects like Ajwan in Khorfakkan and Sharjah Sustainable City in Al Rahmaniya help Shurooq achieve its goals by growing the tourism sector, boosting the economy, and promoting sustainable development.
How Does the Ajwan Project Support Sharjah’s Tourism Goals?
Sharjah is a place where heritage, innovation, and prosperity come together. Its long-term goal is to make tourism a bigger part of the economy. Tourism is a major part of the national economy and helps boost Sharjah and the UAE’s economy. The UAE Tourism Strategy aims to increase tourism’s contribution to the country’s GDP to $121.5 billion (AED450 billion) by 2031, attract $27 billion (AED100 billion) in new investments, and welcome 40 million guests to the country’s hotels. Shurooq supports this goal with projects like Ajwan, which help achieve these targets.
Shurooq chooses projects that help Sharjah grow while respecting its traditions. Ajwan is a great example. Located between the beautiful Khorfakkan mountains and the clear Gulf of Oman, Ajwan – Khorfakkan Residences is a forward-thinking project that shows the great value of Khorfakkan and the eastern region. It helps develop one of the country’s fastest-growing areas.
Ajwan has six well-designed buildings that include homes, shops, a luxury hotel, and a water park. This beachfront community is close to Khorfakkan Beach, the town’s famous amphitheater and waterfall, and the Al Rabi hiking trail. It’s a perfect place for people to relax and enjoy nature.
The project offers good returns on investment and is in a great location, making it an attractive option for investors. Ajwan serves as a holiday home, meeting future tourism needs while providing a high-quality and safe place for families and individuals.
How is Shurooq Adding Green Practices to Its Projects?
Sustainability is a key part of Shurooq’s strategy. They aim to lead in sustainable development by following local Environmental, Social, and Governance (ESG) standards and showing their commitment to responsible business practices.
Shurooq has many eco-friendly projects in smart locations. Projects like Mleiha National Park, Heart of Sharjah, and LUX Al Bridi Resort protect Sharjah’s culture and environment while supporting the United Nations Sustainable Development Goals (SDGs).
Sharjah Sustainable City is a great example of Shurooq’s efforts to promote sustainable living. Built with Diamond Developers, it is Sharjah’s first fully planned sustainable community. Covering 7.2 million square feet in Al Rahmaniya, the city leads the global movement for sustainable living. It focuses on food security, water and energy management, and conserving natural resources.
The city supports several SDGs, especially those related to increasing renewable energy, ensuring everyone has access to affordable and reliable energy and water, and improving sanitation. Sharjah Sustainable City uses renewable energy from rooftop solar panels, helping residents save up to 50% on water and electricity bills.
How Does Shurooq Ensure the Well-Being of Residents and Visitors?
Shurooq prioritizes the well-being of everyone in their projects. For example, Sharjah Sustainable City offers many amenities like parks, gyms, swimming pools, and walking and cycling paths to encourage healthy living. The city also has indoor farming and solar-powered greenhouses called biodomes, which provide fresh produce and support food security.
The city has launched award-winning programs like the Urban Farming Initiative to teach residents about farming and growing healthy food. It also hosts workshops and events to promote health and well-being.
Future projects like Ajwan will also focus on well-being with amenities such as high-quality living spaces, a scenic boardwalk, a fully equipped gym, a swimming pool, and beachfront areas. Ajwan encourages community engagement and a sense of belonging, offering residents many ways to relax, stay active, and enjoy nature for a balanced and healthy lifestyle.
What Challenges and Opportunities Does Sharjah’s Real Estate Market Face?
Sharjah’s real estate market has both challenges and opportunities due to the arrival of new developers meeting growing demand. One challenge is maintaining high-quality projects during this growth. However, the increase in developers also creates opportunities for new businesses to boost the local economy.
There is a rising demand for sustainability and innovation in real estate, so developers must include these elements while keeping high standards. It’s also important to ensure that new developments do not harm Sharjah’s natural environment. Projects need to be planned and built to meet current and future needs without damaging the ecosystem.
What is the Future of Real Estate in Sharjah?
The future of real estate in Sharjah looks very bright and ready for significant growth. Sharjah’s great location, rich history, supportive environment, easy business setup, and transparent real estate industry will continue to attract more investors. This is shown by recent reports from the Sharjah Real Estate Registration Department, which revealed that real estate trade in the first half of 2024 was the highest since 2012, thanks to the emirate’s rapid development.
In the first half of 2024, the value of real estate trade in Sharjah grew by 35.6% compared to the same period in 2023, reaching over $4.914 billion (AED18.2 billion). Through its development projects, Shurooq is committed to supporting this positive growth and contributing to Sharjah’s vibrant real estate future.
How Will Shurooq’s Role Change in the Future, and What is Its Long-Term Vision?
In the coming years, Shurooq will become even more important, focusing on areas like family, hospitality, arts and culture, eco-tourism, and real estate. Guided by traditions and inspired by new ideas, Shurooq aims to make Sharjah a top destination for investment, tourism, and business.
Shurooq’s main goals—profitability and sustainability—along with projects like Ajwan and Sharjah Sustainable City, will be key to this effort. The long-term vision is for Shurooq to not only help Sharjah’s economy grow but also positively impact the local community, including residents and visitors, while promoting sustainable development in Sharjah.
