Shurooq and Afhad Holding Strengthen Sharjah’s Commercial Landscape with New 15,095-Square-Metre Retail Destination in Kshisha
Sharjah: The Sharjah Investment and Development Authority (Shurooq) has formalized a partnership with Afhad Holding LLC to develop a 15,095-square-metre retail space in Kshisha. This initiative represents a significant advancement in enhancing the commercial infrastructure within Sharjah’s expanding residential areas.
The project, situated in Kshisha 1, will be constructed on land owned by Shurooq and managed by Afhad Holding as a long-term retail and community asset. It aims to provide new retail, service, and lifestyle options in proximity to residents, thereby facilitating Kshisha’s growth as an emerging family-oriented community.
The agreement was finalized at Al Bait Al Westi during an event hosted by Invest in Sharjah and PwC, which convened leaders from both public and private sectors to explore investment opportunities and partnerships within the emirate. The signing was conducted by H.E. Ahmed Obaid Al Qaseer, Chief Executive Officer of Shurooq, and Omar Bin Hamoodah, Partner of Afhad Holding LLC.
Addressing Community Needs through Retail Development
The new retail destination is a direct response to the increasing demand for accessible shopping and essential services in Kshisha and its neighboring areas. As Sharjah’s residential sectors continue to grow, there is a rising need for commercial spaces that are conveniently located, thus minimizing travel times and enhancing local engagement.
This project will establish a new commercial hub in Kshisha 1, catering to residents, families, and surrounding communities with retail and community-oriented services. It aligns with Shurooq’s broader strategy of activating strategic land assets through sustainable partnerships with the private sector, generating both economic and social benefits.
The agreement positions the project as a sustainable asset that can adapt to the evolving needs of the community over time.
Strategic Land Development for Community Value
H.E. Ahmed Obaid Al Qaseer emphasized Shurooq’s commitment to fostering developments that are economically viable while remaining attuned to community needs. He stated that the retail destination in Kshisha is designed to support local growth, enhance access to daily services, and contribute to a more integrated neighborhood experience.
He further noted that the collaboration with Afhad Holding exemplifies the robustness of Sharjah’s long-term investment landscape. The partnership combines a strategic land asset with a reputable private sector partner and addresses a clear community requirement, creating a model for sustainable growth that extends beyond the project itself.
Enhancing Daily Convenience through Retail Offerings
The Kshisha project is set to introduce new retail and service options, thereby reinforcing the neighborhood’s infrastructure and addressing the daily needs of its residents. The development is anticipated to serve as a community-centric destination that boosts convenience, encourages local spending, and aids in the commercial evolution of the area.
By situating retail and services closer to residential areas, the project aims to transform Kshisha from a purely residential district into a more comprehensive and interconnected community.
Afhad Holding’s Commitment to Long-Term Growth
Omar Bin Hamoodah expressed enthusiasm about the partnership with Shurooq for the Kshisha retail development. He highlighted the agreement as a testament to their confidence in Sharjah’s long-term growth potential and the viability of its residential communities. He described Kshisha as a promising opportunity to create a retail asset that meets market demands while fulfilling residents’ needs.
He added that Afhad Holding’s strategy is grounded in disciplined investment and long-term asset management. The aim is to deliver a destination that enhances convenience, supports the community, and contributes to the commercial development of one of Sharjah’s burgeoning districts.
Future Developments and Project Roadmap
Following the agreement’s signing, Shurooq and Afhad Holding will proceed to the next phase of planning and development for the Kshisha retail destination. Additional details regarding the project’s official name, design, facilities, tenant mix, and development timeline will be disclosed in due course.
These forthcoming updates will clarify the destination’s positioning within Kshisha’s expanding residential community and outline the services and experiences it will offer to residents and visitors upon completion.
For more information, visit the source: www.zawya.com.
About the Sharjah Investment and Development Authority (Shurooq)
Shurooq is pivotal in Sharjah’s evolution into a premier destination for business, tourism, and sustainable living. Established in 2009 under the vision of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi and led by Her Highness Sheikha Bodour bint Sultan Al Qasimi, Shurooq has facilitated nearly AED 8 billion in investments across over 50 strategic projects covering more than 60 million square feet. The authority focuses on sustainable development, innovative partnerships, and advancements in real estate, hospitality, leisure, and culture, reinforcing Sharjah’s status as a global investment and tourism hub.
About Afhad Holding LLC
Afhad Holding is a private family office based in Abu Dhabi, UAE, engaged in real estate development and management, alongside a global investment program across public and private markets. The company operates through Afhad Properties under an integrated owner-operator model, prioritizing long-term capital preservation and value creation. Afhad is affiliated with the Bin Hamoodah Group and adheres to international best practices while fully complying with Islamic principles.
Read all the latest developments and breaking updates in the Latest News section.
Published on 2026-06-02 12:15:00 • By the Editorial Desk
