Ajman's Property Sales Jump: Over AED1.46 Billion in Deals Made in March 2024

Ajman’s real estate transactions grew by 49.9% with 1169 deals worth AED1.46bn recently

Emirate’s real estate is growing fast due to its attractions. In February 2024, commercial property value in Ajman surged by 44.7% compared to January, totaling $155 million. Residential properties followed at $27.59 million, and industrial assets at $12.35 million. Golden residency properties for investors surged by 115% from January, totaling 102 transactions valued at $92.86 million.

In March 2024, Engineer Omar bin Omair Al Muhairi, Director General of the Department of Land and Real Estate Regulation in Ajman, estimated that a lot of money (AED1.03 billion) was spent on buying and selling houses in Ajman.

“The most money was spent in a place called Al Helio 1, where people spent AED72 million.” says Al Muhairi, “This means lots of people are buying and selling houses and properties. People like to invest in Ajman because it has many advantages for businesses and investors. There is a lot of demand for different properties, and the number of sales has been increasing.”

His department recorded 168 people buying houses. The most expensive house was in an area called “Al Rawda 1” and cost AED 20.9 million. The most popular neighborhoods were “Al Yasmeen”, “Al Helio 2” and “Al Zahia”. The most popular big building project was called “Ajman One”

Back in 2023, Back in 2023, there were 43% more people buying and selling houses in Ajman than the year before. They bought and sold over 11,000 houses, worth more than $4 billion (AED 16.9 billion). Most of the houses sold were in the eastern part of the city and were worth $1.06 billion (AED 3.9 billion) in total. It included 1,667 plots, 1,269 luxury villas, 4 apartment buildings, and six shops.

Recently Al Muhairi said “Ajman’s real estate industry is growing and performing very well, with record-breaking numbers. This success shows that Ajman is a distinguished place to invest, as it fulfills various needs and aspirations of real estate investors. The emirate’s properties are in high demand, and sales continue to increase due to its modern advantages and easy investment atmosphere, which helps entrepreneurs and investors alike.”

Overall, Ajman’s targeted economic initiatives demonstrated resilience and dynamism in key sectors, particularly in the real estate market. The leadership’s forward-thinking vision and government regulations and investment facilitation measures contributed to remarkable milestones and an expected upward trajectory in the real estate sector. The Ajman Department of Land and Real Estate Regulation aims to streamline property registration processes, strengthen competition, and boost economic growth. By shaping the future and defining the investment landscape with data-driven insights, the empowered real estate sector will attract sustainable investments and drive sustainable economic development in the years ahead.

Ajman is performing well in real estate. The government has implemented new rules to simplify property registration and improve the economy. They utilize data-driven insights to plan for the future and enhance the attractiveness of real estate for sustainable investments, thereby driving economic development and increasing revenue.