Shurooq has taken a measured approach to its growth strategy, starting on a conservative scale with mixed-use projects supported by small businesses such as cafes, restaurants and, more recently, hotels, during its first phase. With several successful projects under its belt, the firm is now negotiating with bigger local and international developers.

Shurooq’s strategy for attracting investment is sound, given that it has identified four industries with strong growth potential. The tourism and healthcare markets are undersupplied, with the emirate in desperate need of high-quality hospitals and specialised clinics. In the hospitality sector, hotels are often full to capacity during Sharjah’s popular cultural events. Although average occupancies hovered around 75 per cent in 2012, the market lacks breadth, with few properties serving the high-end sector. With this in mind, Shurooq is opening two five-star properties, Al-Bait hotel and Chedi Khor Fakkan Resort, operated by Asian luxury operator GHM. 

Sharjah boasts stretches of unspoilt coastline, natural islands with protected marine eco-systems, preserved heritage buildings and a cultural calendar of note, which can be leveraged to draw in tourism. Blessed with these assets and its strong government-backing, Shurooq’s efforts to drive the emirate’s social, cultural and economic development can be expected to meet with success.