Sharjah’s Shurooq enters deal with Diamond Developers

The Sharjah Investment and Development Authority (Shurooq) has signed a partnership agreement with Diamond Developers for a mixed-used project in Sharjah.

“With our experience in developing sustainable projects, we are confident our partnership with Shurooq will benefit all parties, foremost of which is Sharjah’s community,” said Faris Saeed, CEO of Diamond Developers, which is also helming the multi-phase Sustainable City cluster in Dubailand. “Sharjah’s flourishing real estate sector has achieved highly promising growth rates.”

The statement issued Tuesday does not identify the area where the project is to be located or the scale of the investments.

“Through this new partnership, we will use these achievements in expanding our development initiatives for fully integrated and environmentally-friendly communities in Sharjah,” said Shaikha Budoor Bint Sultan Al Qasimi, Daughter of Dr Shaikh Sultan Bin Mohammad Al Qasimi and Chairperson of Shurooq. The deal with “Diamond Developers truly exemplifies our vision for economic growth, and will help to inspire other private entities to follow suit.”

Shurooq has been entering alliances with multiple developers on a host of projects in the emirate.