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Al Majaz Waterfront is an open-air leisure and retail complex in Sharjah, spanning 231,000 square feet along the Khalid Lagoon. Developed by Alef Group, it integrates shopping, dining, and entertainment in a family-oriented setting with waterfront views. The tenant mix comprises 21 outlets, predominantly F&B anchors such as Caribou Coffee, Tim Hortons, Al Baik, Pizza Hut, and Krispy Kreme, alongside cafes, retail shops, and leisure facilities including a children"s play area and promenade.
Occupancy stands at 95%, reflecting strong demand in a mid-to-high-end market segment. Monthly footfall averages 208,333 visitors, equating to 2.5 million annually, with dwell times of 90 minutes, bolstered by 12 annual events and proximity to tourist attractions.
Market position benefits from Sharjah"s growing residential base, but faces competition from enclosed malls like City Centre Sharjah and Sahara Centre, which offer climate-controlled environments.
Accessibility is favorable, located 0.5 km from public transport with 1,300 parking spaces, supporting high visibility.
Rent levels average 2,000 AED per square meter per year, with flexible leasing options suitable for international and local F&B operators targeting families. Demographics within a 5 km radius include 350,000 residents, average age 32, household size 4.2, and a mix of locals and expats.
Operational quality features low crime rates and high security, though outdoor format exposes it to seasonal weather variability.
Leasing advantages include high traffic capture (25%) and growth potential in leisure categories, offset by risks of market saturation in dining and limited expansion plans.
Overall, it suits retailers emphasizing experiential retail over high-volume sales, with balanced performance influenced by regional tourism and Sharjah"s economic diversification.
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Hours of Operation
Hours
| Monday | 10:00 AM — 12:00 AM |
| Tuesday | 10:00 AM — 12:00 AM |
| Wednesday | 10:00 AM — 12:00 AM |
| Thursday | 10:00 AM — 01:00 AM |
| Friday | 10:00 AM — 01:00 AM |
| Saturday | 10:00 AM — 01:00 AM |
| Sunday | 10:00 AM — 12:00 AM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Within a 5 km radius, the area supports 350,000 residents with an average age of 32 years and household size of 4.2, comprising families, expats, and young professionals drawn to Sharjah"s affordable living. Monthly footfall reaches 208,333, surging during weekends and holidays due to leisure draws like the lagoon promenade and events. This sustains retail performance for family-oriented tenants, but dependency on tourism introduces variability from external factors such as regional travel trends or economic shifts, potentially affecting consistent traffic in off-peak periods.
Tenant Mix and Competition
The 21-store tenant mix emphasizes F&B (e.g., Tim Hortons, Pizza Hut) and leisure, with anchor presence driving 25% capture rates and complementing the waterfront vibe. It competes with three nearby malls including Sahara Centre and City Centre Sharjah, where enclosed designs provide weather advantages and broader category diversity. While this setup fosters synergies in casual dining, risks include category saturation and lower dwell times compared to indoor competitors, impacting non-food retail viability amid Sharjah"s evolving market dynamics.
Leasing Terms and Risks
Average annual rents of 2,000 AED per square meter, coupled with flexible terms and 95% occupancy, appeal to mid-tier F&B and leisure operators seeking high-visibility spaces. Ample parking (1,300 spots) and public transport access enhance operational ease. However, outdoor infrastructure may require tenant investments in weather adaptations, and proximity to Dubai"s dominant retail hubs poses spillover competition risks, particularly in premium categories, alongside potential slowdowns from Sharjah"s slower tourism recovery post-pandemic.
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Sharjah
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City Snapshot
Sharjah
Comprehensive market intelligence for retail expansion in this city
