With 7,071 transactions valued at over AED9 billion in the first half of 2024, Ajman’s real estate market saw remarkable growth. This represents a 33 percent increase over the same period in 2023.
The Land and Real Estate Regulatory Department of Ajman reported that these transactions were split up as follows: A remarkable 88 percent growth is demonstrated by the 2,039 transactions for citizens, totaling AED 2.98 billion, and the 5,139 transactions for foreign investors, totaling AED 6.048 billion.
The chairman of Ajman’s Department of Land and Real Estate Regulation, Sheikh Abdulaziz bin Humaid Al Nuaimi, outlined the notable accomplishments of the emirate in several different fields. He emphasized the connection between the real estate industry and Ajman’s ongoing growth and economic advancement, crediting this success to the astute foresight of H.H. Sheikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council and Ajman’s ruler, as well as the conscientious work of H.H. Sheikh Ammar bin Humaid Al Nuaimi, Ajman’s Crown Prince and Chairman of the Ajman Executive Council. He clarified that Ajman’s leadership has made the city a desirable place to invest in real estate.
He continued by saying that the emirate’s modern, advanced infrastructure, ease of registration, speedy transaction completion, and provision of facilities and success factors for investors and their projects, as well as its flexible legislative environment that attracts investments, have all contributed to the real estate sector’s remarkable growth in recent years in Ajman.
Sheikh Abdulaziz emphasized that the real estate sector’s growth in the emirate shows that investors believe Ajman to be a top destination for investments and adds to the sector’s resilience. It also shows how well the Department of Land and Real Estate Regulation’s strategy worked to give investors of all stripes a unique and integrated business environment.
In Ajman, 5,449 real estate transactions were completed in the first half of the year, valued at AED6.139 billion, according to the department’s report. This represents a 37% increase over the same period the previous year. Furthermore, over the previous six months, 1,205 mortgage transactions totaling AED 1.797 billion were documented.
According to the report, the eastern sector had the highest number of real estate transactions (ownership) in the first half of 2024, followed by the southern and northern sectors. The areas with the highest number of real estate transactions were Al Yasmeen, Al Zahia, and Al Helio 2.
The emirate’s promotional efforts, particularly the Ajman Real Estate Investment Exhibition, which resulted in the signing of 336 agreements valued at AED195.8 million, were among the primary causes of the increase in foreign investment in the emirate, according to the report. Additional factors include the emirate’s prime location above the other Emirates, its investment-attracting laws and regulations, the range of real estate models available, the simplicity of securing financing for both residential and commercial projects, and the availability of facilities that permit foreigners to purchase and own up to 100% of real estate.
