Sharjah Investment and Development Authority (Shurooq) has planned to invest in international markets including Egypt and fellow GCC countries such as Saudi Arabia, Oman and Qatar.
Mr. Marwan Bin Jassim Al Sarkal, Executive Chairman of Shurooq has received a proposal to establish similar entities to Sharjah Sustainable City in Australia and the US, adding that it also plans to invest soon in fish farming and vertical agriculture.
According to reports, Mr. Al Sarkal stressed that the vision of Shurooq is to expand its trademark globally like other national companies, such as Emirates and Etisalat. It is now engaged in tourism, environment, transport and project management sectors and will soon invest in health, education and robotics.
Shurooq plans to expand the Sharjah Sustainable City and establish additional facilities in Maryam Island, which began with four facilities but now comprises 38. It has partnered with Emirates Transport to increase its vehicle fleet to 400. The company also forged a strategic partnership in water recycling, which they plan to benefit from in terms of irrigation.
Shurooq’s investment portfolio is valued at $3.3 billion distributed in the real estate sector, including Eagle Hills Sharjah and Sharjah Sustainable City. In the tourism sector, the portfolio includes the Chedi Al Bait Hotel in Sharjah City, Kalba KingFisher Lodge, the Moon Retreat in Mleiha, the Mysk Al Faya Retreat in Faya, the Mysk Al Badayer in Faya, and four other hotels.
Mr. Al Sarkal said that Shurooq is supported by H.H. Dr. Sheikh Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, to become a public joint-stock company affiliated with the Shurooq Holding Company. Its negotiations with the Securities and Commodities Authority have advanced, informing everyone interested in investing that Shurooq offers distinguished investment services.
Shurooq supports and encourages Small and Medium-sized Enterprises (SMEs), attracts foreign investments and has signed an agreement with a Kuwaiti company to establish the Avenues Mall and deals with Turkish, Korean and Portuguese companies, Mr. Al Sarkal said.
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