Ajman's Real Estate Transactions Surpass AED 20.5 Billion In 2024 With Significant Growth

The Emirate of Ajman witnessed a significant rise in real estate transactions in 2024, totalling 15,125 deals valued over AED20.5 billion. This marks a 21% increase from the previous year. Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Ajman Department of Land and Real Estate Regulation, highlighted this growth as a testament to the sector's robustness and Ajman's appeal as an investment hub.

Omar bin Omair Al Muhairi, Director-General of the Department of Land and Real Estate Regulation in Ajman, noted that the emirate's real estate market sustained its positive trajectory. According to the Ajman Real Estate Index, 2024 saw 11,880 trading operations with a value surpassing AED14.37 billion, reflecting a 40% growth compared to 2023.

Al Nuaimi emphasised that these figures align with the visions of wise leadership aimed at bolstering Ajman's reputation as a competitive real estate market globally. The emirate offers promising opportunities and an attractive investment experience that caters to diverse investor aspirations.

The "Eastern" sector emerged as the most traded area, surpassing both "Southern" and "Northern" sectors. Among neighbourhoods, "Hay Al Helio 2" led in trading activity, followed by "Al Yasmin" and "Al Zahia." These areas have become focal points for investors seeking lucrative opportunities.

In terms of specific areas, "Al Jurf 1" recorded the highest sale value at AED300 million. Meanwhile, "Al Amera" registered the highest mortgage value at AED155 million. These figures underscore the dynamic nature of Ajman's real estate landscape.

Al Muhairi attributed this increased market activity to rising investment volumes driven by supportive incentives and exceptional facilities offered by Ajman to investors. This has positioned real estate as one of the fastest-growing sectors and a crucial component of the local economy.

Future Prospects for Real Estate

The Department of Land and Real Estate Regulation aims to foster a promising future for real estate in Ajman. Their goal is to support economic growth while enhancing investor confidence by providing an ideal investment environment coupled with a modern lifestyle.

"The exceptional performance of the real estate market over the past year is evidence of the sector’s strength," stated Sheikh Abdulaziz bin Humaid Al Nuaimi. He added that it serves as a positive indicator for Ajman's economic future.

This robust performance not only strengthens Ajman's position but also promises continued growth across other vital sectors linked to real estate activities. Investors are increasingly drawn to this vibrant market due to its comprehensive offerings.

With inputs from WAM