Sharjah unveils affordable luxury project in Khorfakkan as real sector observes 19.2% growth

Sharjah presence at the Sharjah Real Estate Exhibition (ACRES) 2024 has become a focal point, showcasing the authority’s cutting-edge residential projects.

Notable among them are the lavish ‘Ajwan’ in Khorfakkan, Sharjah the elegant ‘Aysha Residence’ on Maryam Island, and insights into the remaining units in the groundbreaking ‘Sharjah Sustainable City.’

Attendees have been captivated by the forward-thinking and eagerly awaited developments presented by the Sharjah Investment and Development Authority.

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Held at the Expo Centre Sharjah until January 20, ACRES 2024 serves as a dynamic platform for Shurooq to connect with a diverse audience, including buyers, investors, and industry professionals. The exhibition underscores Shurooq’s strategic vision and substantial contributions to Sharjah’s flourishing real estate sector.

During a panel discussion on the exhibition’s inaugural day, Ahmed Obaid Al Qaseer, CEO of Shurooq, stressed the pivotal role of real estate and investment in shaping Sharjah’s economic and developmental landscape.

He disclosed an impressive 19.2% increase in Sharjah’s real estate trading volume during the first half of 2023, significantly contributing to the national economy.

Al Qaseer expressed Shurooq’s dedication to transforming Sharjah into one of the most livable and sustainable cities. The projects showcased at ACRES 2024 highlight this commitment, with a focus on affordable luxury. Al Qaseer aims to redefine waterfront luxury living to meet the growing market demand for waterfront options and align with Sharjah’s vision for sustainable growth and investor-friendly policies.

The CEO emphasized Shurooq’s commitment to providing meaningful and sustainable investments, turning potential challenges into opportunities for partnerships with investors. Al Qaseer underscored the role of real estate exhibitions, particularly ACRES 2024, in fostering strong relationships, encouraging competition, and driving innovation in project design and customer service.

For a firsthand experience and more information, visitors are encouraged to explore the Shurooq Pavilion at ACRES 2024, located at Expo Centre Sharjah, Hall 2.

In a strategic move focusing on affordability paired with luxury, Shurooq unveiled pricing details for ‘Ajwan’ in the serene setting of Khorfakkan. The project comprises two iconic buildings, ‘Saahil’ and ‘Al Joon,’ offering 79 exquisite units with prices starting from AED 1.8 million. Scheduled for completion in Q4 2026, ‘Ajwan’ aims to provide a world-class living experience, featuring residential options from 2-bedroom units to 4-bedroom duplexes.

‘Ajwan’ represents Shurooq’s commitment to enhancing Khorfakkan’s allure and investment potential, spanning an impressive 65,269 square meters. The visionary residential project includes six buildings with 185 apartments, a five-star hotel managed by Marriott Autograph Collection, adult and kids pools, a waterfront, various amenities, and diverse dining and retail spaces. Notably, the development will feature a 15,000 square-meter water park with an artificial wave pool, thrilling slides, and meandering water passages, adding to the coastal charm of Khorfakkan.

Continuing its pursuit of delivering luxurious living experiences, Shurooq highlighted the ‘Aysha Residence’ development on Maryam Island. The project comprises 147 apartments, ranging from studios to three-bedroom units, with construction already underway. Offering diverse amenities, including a gym, playground, and pools for all ages, ‘Aysha Residence’ presents a compelling investment prospect and a spectacular living environment for residents.

Strategically located with picturesque views of the Al Khan Lagoon, properties on Maryam Island provide a serene backdrop and convenient access to the Maryam waterfront promenade. The island’s prime location offers cafes, dining options, fitness clubs, swimming pools, and an indoor garden for residents’ convenience and enjoyment. Upon completion, Maryam Island will feature 20 residential buildings comprising over 3,500 units, establishing an inclusive community and offering numerous 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 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 dynamic and comprehensive location due in Q3 2026.

In its fourth phase, Sharjah Sustainable City, a joint venture with Diamond Developers, is witnessing a surge in demand, with a limited number of units remaining from the initially available 324 in this phase. Aligned with the United Nations Sustainable Development Goals, the 7.2 million square feet project in Al Rahmaniya sets the standard for sustainable living and is an icon for future cities. Smart homes with rooftop solar panels and energy-efficient appliances aim to reduce utility bills by up to 50%. The completion of phase 4 is anticipated in Q2 2025.