Over the past 15 years, the Sharjah Investment and Development Authority (Shurooq) has been instrumental in reshaping Sharjah’s economic identity. With an investment portfolio approaching Dhs 8 billion spread across more than 50 projects, the authority has successfully diversified the emirate’s economy from its manufacturing and trade origins into a dynamic hub for sustainable and balanced growth. CEO Ahmed Obaid Al Qaseer highlighted the strategy, stating, “Shurooq’s investments are designed to generate long-term value across sectors that contribute to Sharjah’s social and economic resilience.”
A Model of Public-Private Partnership
Shurooq operates on a unique model that merges the strategic foresight of a government body with the operational agility of a private enterprise. This is achieved through strategic public-private partnerships and alliances with global firms such as Eagle Hills, Diamond Developers, GHM, and The Lux Collective. These collaborations have fast-tracked the development of large-scale real estate, eco-luxury hospitality, and innovative urban projects. Furthermore, its investment promotion arm, Invest in Sharjah, has been crucial in attracting high-value capital into emerging sectors like green manufacturing, advanced logistics, and cultural tourism.
Sustainability and Heritage as Growth Assets
At the core of Shurooq’s development philosophy is a dual commitment to sustainability and cultural preservation. Sustainability serves as an operational framework, with all projects undergoing rigorous environmental and social impact assessments. The 7.2-million-sq ft Sharjah Sustainable City is a prime example, featuring solar-powered homes, smart mobility, and comprehensive wastewater reuse systems. Similarly, cultural heritage is viewed as a key economic driver. “We see heritage as a growth asset,” Al Qaseer explains. “It adds depth to our destinations and value to our economy.” Projects like the Heart of Sharjah, which transformed historic districts into vibrant commercial and cultural hubs, exemplify this vision.
Fostering Enterprise and Investment
Shurooq’s developments are designed to be powerful economic enablers. Over 600 small and medium enterprises (SMEs) currently operate within its destinations, gaining access to new markets and increased visibility across retail, F&B, logistics, and tourism. “Every development we create is designed to generate opportunity,” says Al Qaseer. “We want local entrepreneurs to grow alongside our destinations.” Since its establishment in 2016, Invest in Sharjah has successfully attracted over Dhs 96.7 billion in foreign direct investment, leading to 617 projects and the creation of more than 46,000 jobs.
The Philosophy of Place-Making
Guided by the vision of Sheikh Dr Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the leadership of Sheikha Bodour bint Sultan Al Qasimi, Shurooq has championed a development ethos centered on “place-making.” This approach focuses on creating destinations that seamlessly integrate people, culture, and nature. From urban oases like Al Noor Island and the House of Wisdom to eco-tourism ventures like Nomad in Kalba and the Mleiha National Park, each project is a testament to how integrated design can foster civic engagement and preserve natural and historical heritage while driving economic progress.
About Shurooq
The Sharjah Investment and Development Authority (Shurooq) is the driving force behind Sharjah’s transformation into a premier investment, tourism, and business destination. Launched in 2009, Shurooq is mandated to lead a social, cultural, environmental, and economic development process in Sharjah based on its distinct Arab and Islamic identity. It focuses on developing projects and attracting investments across a diverse portfolio of sectors, including real estate, hospitality, eco-tourism, and culture.
Source: Gulf Business
