The Sharjah Investment and Development Authority (Shurooq), is the driving force behind the transformation of Sharjah. Guided by the heritage and traditions of Sharjah and inspired by innovation, (Shurooq) is committed to enhancing Sharjah’s appeal as an investment, tourism, and business destination.
An independent government body based in Al Qasba, Sharjah, (Shurooq) was established by Emiri Decree No. 2 of 2009, issued by His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and is chaired by Sheikha Bodour Bint Sultan Al Qasimi, with HE Marwan bin Jassim Al Sarkal as CEO.
Shurooq’s aim is to achieve social, cultural, environmental and economic development on the basis of Sharjah’s distinct Arab and Islamic identity, to create new investment opportunities within the Emirate, and to encourage investment by adopting the best standards in providing world-class services to attract investors.
The Authority’s key mission is to evaluate and follow up on investment related infrastructure projects, as well as to overcome obstacles facing investment related activities in the emirate of Sharjah, and to provide all the possible facilities and incentives to help attract more investors to the Emirate. As an independent government entity, Shurooq has been empowered to work with investors across different sectors to develop tailor-made investment and development opportunities that are aligned with the strategic objectives of Sharjah and that further diversify the Emirate’s economy.
Shurooq is responsible for establishing new infrastructure projects, developing investment-related infrastructure projects, modernising already existing projects, and setting up special investment zones. The Authority’s mandate furthermore includes suggesting and drawing up investment-related legislation, investing in investment projects, and signing and concluding partnership agreements and memoranda of understanding that help increase the investment rates and economic activities within the Emirate with investment bodies and leading organisations, both within and outside the Emirate, while focusing on building Sharjah’s economic structure within the framework of sustainable development and environmental friendliness, in line with international standards.
Through setting up a comprehensive information centre that highlights investment opportunities, Shurooq has facilitated development targets with other bodies and organisations and has set up special investment zones and suggested investment-related laws to further facilitate these endeavours. This includes enhancing integration with government and private organisations to ensure achievement of short-, medium-, and long-term goals as well as encouraging free circulation of information and data between legal, tourism, and economic bodies. Shurooq believes in the principles of transparency, the exchange of information, and support experiences.
Capitalising on Sharjah’s burgeoning tourism investment sector, Shurooq has developed, and is continuing to develop, a range of world-class tourism and leisure projects. Shurooq’s portfolio of unique mixed-use developments – combining retail, cultural attractions, and F&B, including Al Qasba, the Al Majaz Waterfront, the heritage and leisure restoration project the Heart of Sharjah, the Kalba Eco-tourism project, the Al Jabal Resort – The Chedi Khorfakkan, Al Montazah leisure and waterpark, and most recently the Al Bait hotel project, which will be the first authentically Emirati hotel development in the UAE.
In recognition of its overall accomplishments, Shurooq was named The Banking Awards 2013 – and 2014 FDI Agency of the Year in the MENA region, in the European’s Global Banking and Finance Awards.
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