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Ajman’s real estate market: Valuation transactions hit $196 million in February

In Ajman, commercial property values have seen a substantial rise of 44.7%, while golden residency properties have shown an even more impressive increase of 115%

Ajman’s real estate market: Valuation transactions hit $196 million in February

In February, Ajman’s Department of Land and Real Estate Regulation recorded 129 real estate valuation transactions totalling approximately $196 million (AED 718 million).

Omar bin Omair Al Muhairi, Director-General of Ajman’s Department of Land and Real Estate Regulation highlighted the ongoing momentum in Ajman’s real estate market, citing remarkable performance and rising demand across all regions and property categories.

He also underscored a notable surge in commercial property value, marking a 44.7 per cent rise compared to January, with commercial assets leading in total valuation at $155 million (AED 568.4 million), while residential properties followed at $27.59 million (AED 101.4 million), and industrial assets at $12.35 million (AED 45.35 million).

Al Muhairi added that the valuation of golden residency properties for investors surged by 115 per cent from January, totalling 102 transactions valued at $92.86 million (AED 341 million). This highlights the rapid growth and extensive interest in real estate investments resulting from the emirate’s many competitive advantages and diverse attractions.

In 2023, Ajman’s property market experienced a significant surge with a 43% increase in transactions compared to the previous year. A total of 11,474 deals worth over $ 4.60 billion (AED 16.9 billion) were registered, as reported by the Ajman Department of Land and Real Estate Regulation. The eastern sector of the emirate led the way with transactions exceeding $1.06 billion (AED 3.9 billion), driven by the trading of 1,667 plots, 1,269 luxury villas, 4 apartment buildings, and 6 shops.

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.