Ajman Sees Lease Contracts Surge To AED 4.9 Billion In 2024 With Significant Growth

The Ajman Municipality and Planning Department reported a significant rise in rental transactions for 2024. Lease contracts totalled AED4.929 billion, marking a growth of AED1.646 billion, or 50.13%, compared to 2022. This data is from the Department's 2024 Annual Report.

Abdul Rahman Mohammed Al Nuaimi, Director General of Ajman Municipality and Planning Department, highlighted Ajman's appeal as a prime location for residents, visitors, and investors. The city offers an ideal living environment with luxurious amenities and modern facilities that enhance visitor experiences.

In 2024, Residential Lease Contracts were valued at AED2.647 billion. Commercial contracts saw an increase to AED2.15 billion, while Investment Contracts reached AED266 million. This indicates rising housing demand and a recovery in the commercial sector, showcasing Ajman's investment appeal.

Al Nuaimi noted Ajman's strategic location as a key factor in boosting demand for various lease contracts. Its position as a central link between other emirates enhances its attractiveness for Residential, Commercial, and Investment Contracts.

The Emirate's leadership prioritises supporting citizens and investors by offering extensive support and facilities. Flexible legislation creates an encouraging environment for entrepreneurs, aiding in attracting investments and supporting development projects sustainably across all sectors.

Ajman's smart transformation initiatives have improved transaction processing efficiency significantly. The Municipality's qualified staff have developed integration projects with partners and launched electronic systems to expedite transactions swiftly.

Enhanced Customer Experience

The Department aims to achieve Balanced Urban Development while enhancing customer wellbeing in Ajman. Efforts focus on improving customer experience through efficient service delivery facilitated by smart systems and qualified personnel.

Ammar Abdul Karim Al Kayed, MPDA's Director of Rental Regulation Department, stated that attestation of rental contracts increased notably in 2024 compared to previous years. The department processed 100,236 Residential Contract Transactions, 37,855 Commercial Contract Transactions, and 269 Investment Contract Transactions.

Ajman's continuous progress in attracting investments is evident through these figures. The Emirate remains committed to ensuring sustainability and success across all sectors while maintaining its status as a preferred destination for quality living and investment opportunities.

With inputs from WAM