Sharjah:  The Sharjah Investment and Development Authority (Shurooq) has signed an agreement with Afhad Holding LLC to activate a 15,095-square-metre plot in Kshisha into a new retail destination, marking a key step in expanding commercial infrastructure across Sharjah’s growing residential districts.

Located in Kshisha 1, the project will be developed on Shurooq-owned land and operated by Afhad Holding as a long-term retail and community asset. The destination will introduce new retail, service and lifestyle offerings closer to residents, supporting Kshisha’s continued growth as one of Sharjah’s emerging family-focused communities.

The agreement was signed at Al Bait Al Westi during an event organised by Invest in Sharjah and PwC, which brought together public and private sector leaders to discuss investment opportunities and cross-sector partnerships in the emirate. It was signed by H.E. Ahmed Obaid Al Qaseer, Chief Executive Officer of Shurooq, and Omar Bin Hamoodah, Partner of Afhad Holding LLC.

Turning residential growth into commercial opportunity

The new destination responds to the growing need for accessible retail and everyday services in Kshisha and surrounding areas. As Sharjah’s residential districts continue to expand, demand is rising for commercial spaces that are closer to where people live, reducing travel time and strengthening neighbourhood activity.

The project will support this shift by creating a new commercial node in Kshisha 1, serving residents, families and nearby communities with retail and community-facing services. It also reflects Shurooq’s wider approach to activating strategic land assets through long-term private sector partnerships that deliver both economic and social value.

Through the agreement, the project is positioned as a sustainable operating asset that can grow with the area and respond to future community needs.

From strategic land to long-term community value

H.E. Ahmed Obaid Al Qaseer said: “Shurooq’s role is to enable developments that are commercially sound while remaining deeply connected to the needs of the community. In Kshisha, this means introducing a retail destination that supports the area’s growth, gives residents easier access to daily services and contributes to a more complete neighbourhood experience.”

He added: “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.”

A retail destination designed around daily convenience

The Kshisha project will add new retail and service offerings to Kshisha 1, strengthening the area’s neighbourhood infrastructure and supporting the daily needs of residents.

The development is expected to serve as a community-facing destination that enhances convenience, supports local spending and contributes to the area’s commercial development. By bringing retail and services closer to homes, the project will help Kshisha evolve from a residential district into a more complete and connected community.

Afhad Holding: Investing in Sharjah’s long-term growth

Omar Bin Hamoodah said: “We are pleased to partner with Shurooq on the development of a new retail destination in Kshisha. 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.”

He added: “Afhad Holding’s approach is built on disciplined investment and long-term asset development. Through this project, we look forward to delivering a destination that enhances convenience, supports the community and contributes to the commercial development of one of Sharjah’s growing districts.”

Upcoming milestones to define the project’s identity and roadmap

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. Further details on the project’s official name, design direction, facilities, tenant mix and development roadmap will be announced in due course.

These upcoming updates will provide a clearer view of the destination’s positioning, its role within Kshisha’s growing residential community, and the services and experiences it will introduce for residents and visitors once completed.

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About the Sharjah Investment and Development Authority (Shurooq)

Shurooq is the driving force behind Sharjah’s transformation into a leading 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, Chairperson of Shurooq, the authority has spearheaded nearly AED 8 billion in investments across over 50 strategic projects covering more than 60 million square feet. Through sustainable development, bold partnerships, and innovation across real estate, hospitality, leisure, and culture, Shurooq continues to strengthen Sharjah’s position as a global hub for investment and tourism.

For more details, please visit: https://shurooq.gov.ae/

About Afhad Holding LLC

Afhad Holding is a private family office headquartered in Abu Dhabi, United Arab Emirates, with activities spanning real estate development and management alongside a global investment programme across public and private markets. Real estate is pursued through Afhad Properties under an integrated owner-operator model, with a long-term horizon and a focus on capital preservation and disciplined value creation. Afhad is the sister entity to the Bin Hamoodah Group, and its governance is rooted in international best practices in full adherence to Islamic principles.​​