The Sharjah Investment and Development Authority (Shurooq) has signed an agreement with Afhad Holding LLC to develop a new retail destination on a 15,095-square-metre plot in the Kshisha area of Sharjah.
Located in Kshisha 1, the project will be built on land owned by Shurooq and operated by Afhad Holding as a long-term retail and community asset. The development aims to introduce new retail, service and lifestyle offerings closer to residents, supporting the continued growth of Kshisha as one of Sharjah’s emerging family-oriented communities.
The agreement was signed at Al Bait Al Westi during an event organized by Invest in Sharjah and PwC. The event brought together public and private sector leaders to discuss investment opportunities and cross-sector partnerships across the emirate. The agreement was signed by Ahmed Obaid Al Qaseer, Chief Executive Officer of Shurooq, and Omar bin Hamoodah, Partner of Afhad Holding .
Obaid Al Qaseer, Chief Executive Officer of Shurooq said that, “This agreement with Afhad Holding reflects the strength of Sharjah’s long-term investment environment. It brings together a strategic land asset, a credible private sector partner and a clear community need, which is the kind of partnership model that supports sustainable growth and delivers value beyond the project itself.
Omar bin Hamoodah, Partner of Afhad Holding commented that, “This agreement reflects our confidence in Sharjah’s long-term growth and in the potential of its residential communities. Kshisha represents a strong opportunity to develop a retail asset that responds to market demand while serving the needs of residents.”
Following the signing of the agreement, Shurooq and Afhad Holding will move into the next phase of planning and development for the Kshisha retail destination.
