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Sharjah Investment & Development Authority (Shurooq) is to strengthen its development strategy through its newly established Shurooq Holding Company, following a decree issued by H.H. Sheikh Sultan bin Mohammad Al Qasimi, ruler, Sharjah.

Expected to play a key role in developing large scale projects in the emirate’s key economic sectors, the public joint stock company will also be engaged in generating revenues, sourcing local and foreign investment and securing credit facilities.

Headquartered in Sharjah City and set to expand across the region and beyond, the entity’s capital and the appointment of a board of directors will be announced in due course.