Economy

RUWAD, affiliated with Sharjah Economic Development Department (SEDD), announced a 54.3% increase in the number of small and medium national projects joining its membership in 2024, with 449 new projects across various sectors in multiple cities. Integrated benefits and facilities Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department ,stated that the growth in membership reflects diverse ...

The Sharjah Investment and Development Authority (Shurooq) has announced AED 7.2 billion in investments across 52 groundbreaking projects and experiences, transforming over 60 million square feet throughout the emirate. This announcement comes as Shurooq marks 15 years since its inception, highlighting a journey defined by sustainable growth, community impact, and cultural preservation. Rather than simply expanding its footprint, Shurooq has ...

Sharjah’s real estate sector had a strong performance during April 2025, recording 7,206 transactions with a trading value of AED 4 billion across various areas of the emirate. The total traded area of sales transactions reached approximately 10.3 million square feet, which reflects the continued momentum and growth in Sharjah’s real estate market. Dynamic transformation reflecting the market’s growth the ...

Bank of Sharjah has announced a strong start to 2025, posting a net profit of AED 116 million for the first quarter ended March 31, 2025, marking a 45% increase compared to AED 80 million in Q1 2024. The solid performance follows the Bank’s remarkable turnaround in 2024 and reflects continued momentum driven by sound strategy, disciplined risk management, and ...

Statistics from financing programmes results provided by Sharjah Entrepreneurship Foundation “Ruwad”, affiliated with Sharjah Economic Development Department (SEDD), during 2024 show that 13 entrepreneurial projects received financing services totaling AED 2,860,000. This is part of the financing and support services the foundation provides to national small and medium-sized enterprises (SMEs) in the Emirate of Sharjah. This brings the total number ...

The real estate trading value in the Emirate of Sharjah has reached AED 13.2 billion during the first quarter of 2025, with a growth rate of 31.9% compared to the same period in 2024, as it amounted to approximately AED 10 billion. The number of transactions executed by the department reached 24,597, with a growth rate of 4.8% compared to ...

Sharjah Islamic Bank (SIB) commenced the year 2025 with strong financial performance during the first quarter, achieving a net profit after tax of AED 318.9 million, an increase of 24.6% compared to AED 255.9 million in the first quarter of 2024. Income from investments in Islamic financing and sukuk grew by AED 56.2 million, or 6.6%, reaching AED 914.3 million ...

The Project Funding Committee of the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) has approved funding for four new small businesses with a total value of AED 720,000. Funding Decisions from Two Committee Meetings These approvals were based on the 32nd and 33rd meetings of the committee, held in January and March 2025, respectively. The meetings were chaired by His ...

Bank of Sharjah has reported exceptional financial results for the year ending 31st December 2024, with a record profit before tax of AED416 million. The bank’s net profit after tax soared to AED385 million, driven by strong revenue growth, effective cost control, and prudent risk management strategies. Strong performance and strategic initiatives Commenting on the results, Sheikh Mohammed bin Saud ...

The volume of real estate transactions in the various regions and cities of Sharjah has amounted to AED 3.5 billion during February 2025, with a total number of 7,768 transactions. Real Estate Diversity Through these transactions, different types of real estate were traded in the Emirate, and included residential, commercial, industrial and agricultural lands, which confirms the provision of diverse ...