The real estate sector in Ajman has been experiencing a remarkable surge, with the value of real estate transactions reaching a substantial $381.1 million in July 2023. This represents an impressive growth rate of 52 percent compared to the same period in the previous year, according to Omar bin Omair Al Muhairi, the Director-General of the Department of Lands and Real Estate Regulation in Ajman.
Throughout the month of July, a total of 948 real estate transactions were recorded, contributing to the overall surge in the market. These transactions carried a cumulative value of AED1.4 billion. Furthermore, the total trading volume within this period was estimated at AED1.03 billion. Notably, the property named “Al Nakhil 2” achieved the highest sales value, amounting to AED136 million.
Omar bin Omair Al Muhairi highlighted the consistent upward trajectory of the real estate market in Ajman, a trend that is attributed to the city’s attractive investment advantages and its supportive business environment. This environment has been instrumental in enticing investors to capitalize on the city’s real estate offerings.
The surge in the real estate sector mirrors the overall progress and prosperity witnessed across various pivotal sectors in Ajman. This success can be credited to the insightful vision of the leadership and their strategic decisions that have greatly contributed to enhancing Ajman’s appeal and success in attracting foreign investments.
The Department of Lands and Real Estate Regulation in Ajman also documented 144 mortgage transactions, collectively amounting to AED177 million. Among these transactions, the highest mortgage value reached AED9.16 million in the “Al Rashidiya 1” area. Notably, the “Al Yasmeen” neighborhood emerged as the most sought-after area among buyers, followed by “Al Zahya” and “Al Helio 2.”
The city’s real estate sector is poised for continued growth and prosperity as it leverages its strategic advantages and investor-friendly atmosphere. The rise in real estate transactions is a testament to Ajman‘s position as an attractive destination for both local and foreign investors seeking promising opportunities in the real estate market.