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Ajman real estate market records $1.17 billion transactions in Q1 2024

This upsurge is attributed to strong economic leadership, a successful real estate exhibition, and Ajman’s commitment to attracting investors

Ajman real estate market records $1.17 billion transactions in Q1 2024

The total value of real estate transactions in Ajman reached $1.17 billion (AED 4.3 billion) during the first quarter of 2024, reflecting a remarkable growth of over 26.6% compared to the same period in 2023.

Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Department of Land and Real Estate Regulation in Ajman, commented, “The exceptional performance of the real estate sector reflects the Emirate’s sound economic leadership and its commitment to fostering a robust and competitive economy.”

He further highlighted the significant contribution of the Ajman Real Estate Investment Exhibition in driving market momentum and achieving positive results.

The exhibition witnessed the conclusion of 336 real estate transactions worth $53.3 million (AED 195.8 million), underscoring investors’ confidence in Ajman’s real estate sector thanks to the Emirate’s compelling investment prospects, promising projects, and diverse opportunities.

The Annual real estate report from the Department of Land and Real Estate Regulation in Ajman for 2023 also showed a significant increase in real estate transactions compared to the previous year. A total of 11,474 transactions were recorded, surpassing $4.60 billion (AED 16.9 billion) in value. This marked a remarkable 43% growth from 2022. The total trading volume reached $2.77 billion (AED 10.2 billion) from 8,675 trading transactions.

Nuaimi highlighted strong economic growth in Ajman in 2023, particularly in the real estate sector. And the record numbers recorded last year and in Q1 2024 reflect the sector’s stability and the leadership’s dedication to supporting it. Moreover, if the numbers are to go by then the aim of Ajman to solidify its status as a top investment destination by providing a favourable business environment and comprehensive support to investors for the success of their projects is not far away.