Real Estate Transactions in Ajman Soar by 52% in July 2023

Real Estate Transactions in Ajman Soar by 52% in July 2023

Ajman’s real estate market has witnessed a remarkable surge in activity during July 2023, with a robust growth of 52% in comparison to the same period last year, according to Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation in Ajman.

The month of July saw a total of 948 real estate transactions being registered, amounting to a substantial value of AED1.4 billion. The trading volume for the same period was estimated at AED1.03 billion. Notably, the development “Al Nakhil 2” secured the highest sales value, clocking in at AED136 million.

Al Muhairi underscored the ongoing upward trajectory of Ajman’s real estate market, attributing its exceptional performance to its favorable investment prospects and a business-friendly environment that continues to attract investors. He emphasized that the remarkable growth in the real estate sector mirrors the emirate’s overall progress across various crucial sectors, an achievement attributed to visionary leadership and supportive policies.

The Director-General revealed that the department recorded a total of 144 mortgage transactions, valued at AED177 million. The highest mortgage transaction was noted in the “Al Rashidiya 1” area, amounting to AED9.16 million. Among the most sought-after neighborhoods, “Al Yasmeen” claimed the top spot, followed by “Al Zahya” and “Al Helio 2.”

This substantial surge in real estate activity is a testament to Ajman’s prowess as a thriving investment destination, solidifying its reputation as an attractive hub for both local and foreign investors. The emirate’s success in fostering an environment conducive to growth has further propelled its status on the global investment landscape.

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