The Sharjah Investment and Development Authority (Shurooq) has shared the new developments being witnessed across its portfolio of latest large-scale real estate, tourism, commercial and hospitality projects, in line with the gradual reopening of businesses across the UAE.
Preventative measures to curb the spread of the coronavirus are being implemented effectively across all its sites to ensure the safety of Shurooq’s staff and workers.
Shurooq is developing an array of projects in strategic partnership with international companies that offer a range of investment opportunities. In doing so, Shurooq is furthering Sharjah’s economic diversification policy aimed at enhancing the investment environment across the emirate and making the most of its unique infrastructure to develop new projects in sectors like renewal energy, health care, logistics and hospitality.
Marwan bin Jassim Al-Sarkal, executive chairman of Shurooq, said: “As businesses are gradually returning to normal, Shurooq is responding to the crisis and helping drive recovery to preserve the resilience and stability of the economy as well as ensure that the growth in all sectors is balanced. This aligns with the vision and directives of Sheikh Dr. Sultan bin Muhammad Al-Qasimi, member of the Supreme Council and ruler of Sharjah, to bolster the status of the emirate as an outstanding business and investment destination at both regional and global levels.”
Amongst the list of projects scheduled for completion this year and some of the signature projects that will be completed within the next two years are:
House of Wisdom
The House of Wisdom project comprises indoor and outdoor reading spaces and will feature a 105,000-book collection. The project brings to the fore a new concept of the “future library” where its physical form and cultural role will see the merging of the activity of reading and acquiring knowledge in a socially centered, collaborative and creative space. The 12,000-square-meter project is scheduled for inauguration in the fourth quarter of 2020.
Sharjah Sustainable City
It is a first fully integrated, net-zero energy community in the emirate, adhering to the highest standards of environmental, social, and economical sustainability. The 2 billion dirham ($544.5 million) project, encompassing 7.2 million square feet, comprises environmentally friendly residential units, green houses with modern technology and vertical farms, driverless cars, a multiservice commercial center and a school.
The 160 million dirham Kalba Waterfront boasts a magnificent view of a serene lagoon lined by mangroves and has a total built-up area of 17,000 square meters. The shopping mall features 86 retail outlets, a supermarket, a family entertainment center, and a large food court.
Nestled in the center of Sharjah, Maryam Island offers an array of luxury residential apartments, four- and five-star hotels, waterfront food and beverage outlets, cafés, retail shops, leisure facilities, a dock and green spaces. The 4.5 billion dirham venture extends over an area of 460,000 square meters.
Palace Al Khan
Located in downtown Sharjah overlooking the Arabian Sea, Palace Al Khan offers a spectacular blend of nature and state-of-the-art facilities. Complete with a spa, a fitness club, an outdoor swimming pool, conference facilities and parking, the 120 million dirham Palace Al Khan comprises 88 keys in total, including executive suites.