Shurooq shares progress details of mega-projects at Acres

The Sharjah Investment and Development Authority’s (Shurooq) pavilion at this year’s Sharjah Real Estate Exhibition (Acres) 2024 has shared progress of its residential projects, most notably, Ajwan in Khorfakkan, the Aysha Residence on Maryam Island, as well as details regarding limited units still available in Sharjah Sustainable City.

As one of the frontrunners in defining Sharjah’s portfolio of luxury properties, Shurooq has launched these three large-scale projects that are expected to attract investors to throng the Emirate and drive the growth of Sharjah’s real estate sector.

At ACRES, Shurooq unveiled the prices and other details regarding their Ajwan, located in Khorfakkan. The project debuts with two iconic buildings, Saahil and Al Joon, housing 79 units, with prices starting from Dh1.8 million. They offer a spectrum of residential options, from two-bedroom units to four-bedroom duplexes, with the project earmarked to be completed in Q4 2026.

Ajwan spans 65,269 square metres, comprising six buildings containing 185 apartments, a five star hotel managed by Marriott Autograph Collection, two adult swimming pools, a kids pool, a waterfront, various amenities, as well as a wide range of dining and retail spaces. The development will also feature a 15,000 square-metre water park, complete with an artificial wave pool, slides, and meandering water passages.

The residential development will further transform one of Sharjah’s most distant locations which is already renowned for its nature-infused tourist attractions.

Shurooq also highlighted their Aysha Residence development on Maryam Island at Acres. The project comprises 147 apartments, ranging from studios to three-bedroom units. With construction already underway, this high-end project offers a compelling investment prospect that includes diverse amenities, including a gym, playground, and pools catering to both children and adults.

Strategically located with views of the Al Khan Lagoon, properties on Maryam Island not only provide a serene backdrop but also grant convenient access to the Maryam waterfront promenade. This prime location boasts an array of cafes and dining options, fitness clubs, swimming pools, as well as an indoor garden, adding an extra layer of convenience and enjoyment for residents. Upon completion, the island will feature 20 residential buildings comprising over 3,500 units, establishing an inclusive community and offering a plethora of investment opportunities.

Maryam Island continues to evolve with recent milestones, including the completion of Maryam Gate Residences in December 2023, featuring 389 units. The project progresses with the upcoming handover of Rimal Residences in Q3 2024, comprising 203 units, and the Jawaher Residences 1 & 2, set for completion in Q4 2025, adding 198 units in the fourth phase. The fifth phase of the island development introduces the Crystal Residences with 234 units and 16 retail spaces, offering captivating waterfront views. Moving into Q1 2026, Shurooq will conclude its sixth and seventh phases with the completion of the 203 units at Mesk Residences and finally Aysha Residences 1 & 2, solidifying Maryam Island's position as a location due in Q3 2026.

Furthermore, Shurooq revealed details on Sharjah Sustainable City, a joint venture with Diamond Developers. In its fourth phase, the development is witnessing a surge in demand, with a limited number of units remaining from the 324 initially available in this phase. Aligned with the United Nations Sustainable Development Goals, the project spanning 7.2 million square feet in Al Rahmaniya, sets the standard for sustainable living and an icon for future cities. Its smart homes with rooftop solar panels and energy-efficient appliances reduce utility bills by up to 50 percent. The completion of fourth phase is anticipated in Q2 2025.

The development also treats 100 percent of wastewater for irrigation, maximises recycling, and features vertical farms producing 90,000 kg of chemical-free greens. With 80 EV charging stations, it also promotes green mobility. With endless benefits to residents, the project prioritises health, offering sports facilities, gyms, clinics, retail, food outlets, as well as a nursery. As an added incentive, investors enjoy zero service charges for the first five years, and the city, open to all nationalities, provides an attractive payment plan, embodying a commitment to sustainability and inclusivity.

During a panel discussion on the first day of the exhibition, Ahmed Obaid Al Qaseer, CEO of Shurooq, said, “Shurooq is turning Sharjah's vision into reality, making the city one of the most livable and sustainable. Our projects at Acres 2024 showcase our dedication to creating vibrant communities that resonate with the emirate's growth and development. Our specific focus at Acres 2024 is on affordable luxury, and we aim to redefine waterfront luxury living, aligning the ever-growing market demand for waterfront options with Sharjah's vision for sustainable growth and investor-friendly policies.”

He also revealed that the real estate sector in Sharjah saw an incredible 19.2 percent increase in trading volume in the first half of 2023, contributing significantly to the national economy.

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