The Sharjah Investment and Development Authority (Shurooq) has entered into an agreement with Afhad Holding LLC to transform a 15,095-square-metre site in Kshisha into a new retail and community destination.
Situated in Kshisha 1, the project will be developed on land owned by Shurooq and managed by Afhad Holding as a long-term asset designed to serve both residents and businesses. The development is expected to enhance the area’s retail landscape by introducing a range of shopping, service, and lifestyle offerings, supporting Kshisha’s evolution as one of Sharjah’s growing family-oriented communities.
The agreement was signed at Al Bait Al Westi during an event hosted by Invest in Sharjah and PwC, which convened public and private sector stakeholders to explore investment opportunities and collaborative initiatives across the emirate. The signing was carried out by Ahmed Obaid Al Qaseer, Chief Executive Officer of Shurooq, and Omar bin Hamoodah, Partner at Afhad Holding LLC.
Commenting on the partnership, Al Qaseer said the agreement demonstrates the strength of Sharjah’s investment ecosystem by combining a strategic land asset with an experienced private-sector partner to address a clear community need. He noted that such collaborations contribute to sustainable development while creating long-term value for the emirate and its residents.
Bin Hamoodah highlighted Afhad Holding’s confidence in Sharjah’s future growth prospects, noting that Kshisha presents a promising opportunity to develop a retail destination that aligns with market demand and enhances the quality of life for residents.
Following the signing, both parties will begin the next phase of planning and development for the project. Additional details, including the destination’s name, architectural design, facilities, tenant mix, and implementation timeline, are expected to be announced at a later stage.
