Ajman’s exports to Saudi Arabia reached AED 859.8 million in 2023. If we calculate it in USD, it’s approximately $234 million. This showed that there is a 29% huge growth than the year prior. This made KSA the lead exporter to Ajman in 2023. It got 14% of all export certificates in 2023.

In 2024’s Q1, Ajman’s exports to Saudi Arabia reached AED 397.6 million. It makes approximately $108 million in USD. This is just the tip of the iceberg. The overall trade volume between the UAE and Saudi Arabia reached $17.53 billion or AED 64 billion later in 2024. This shows a 22.5% increase if we compare it to 2023’s Q1.

Saudi Investors Are Increasing in Ajman

The Dept. of Economic Development in Ajman gave 114% more new licenses to Saudi investors in the Q1 2024. Later in the year, by September 2024, the emirate hosted 685 Saudi investors. Sheikh Humaid bin Rashid Al Nuaimi is the ruler of Ajman. Sheikh Ammar bin Humaid Al Nuaimi is the crown Prince of Ajman.

Under their directives, the emirate has created policies to attract foreign investors with unique business opportunities and clear rules. This showed a 13% growth compared to the first half of 2023. It tells how Ajman is making smart efforts to make business easy and attract foreign investments.

Successful Sectors in Ajman

Although Ajman-KSA partnership helped many sectors, Saudi Investors are investing with full potential in real estate and tourism and hospitality.

1. Real Estate

Saudi businessman Mohammed Saud Mohammed Al-Shuyoukh started investing in Ajman’s real estate sector in 2017. He has completed many projects there. Dr. Ali Hassan Al-Baldi also invested in real estate development after the COVID-19 pandemic in 2020. Now, his company has grown over 60 villas with modern specifications and extended to new areas. It includes popular areas such as Al-Yasmeen. Dr. Ali found it easy to do business in Ajman because of the government’s visionary measures during COVID-19. This thing inspired him to invest further in the emirate.

2. Tourism and Hospitality

Mohammed Ameer Saeed is the owner of the Zoya Health Resort in Ajman. It is located in the Al-Zorah in Ajman. He chose Ajman for its promising tourism potential. He also chose it for Ajman’s natural beauty, mangroves and pristine lakes. Ameer praised the Ajman government for doing a great job helping tourism and building hotels.

What Happened on Saudi National Day 2024?

Abdullah Ahmed Al-Hamrani is the Director General of the Department of Economic Development in Ajman. He said on the Saudi National Day 2024 that together they want to make the Saudi-Ajman economic partnership better. This makes the future of Ajman-Saudi Arabia relations look promising. Abdullah Ahmed Al-Hamrani also appreciated the ongoing collaboration between both nations. He emphasized that towards amplifying economic development and partnership opportunities.

Conclusion

Saudi investors are great in numbers and potential when it comes to investing in Ajman. Both Ajman and Saudi Arabia have strong trade and investment connections. And Ajman has been working towards strengthening these friendly ties to promote economic growth. That’s why it encourages foreign investors for long-term partnerships. The USP of Ajman is that it gives incentives to its investors. It also eliminates the red tape so that they can do business with more ease.

Read More:

Real Estate Transactions of 1.95 Billion Dirhams in Ajman During September 2024