- 8.9 billion dirhams is the volume of real estate transactions in the Emirate of Ajman during 2020
8.9 billion dirhams is the volume of real estate transactions in the Emirate of Ajman during 2020
The annual real estate report issued by the Department of Land and Real Estate Regulation in Ajman revealed the stability of the real estate market performance in the Emirate. The total volume of the real estate transactions during the year 2020 amounted to about 8.9 billion dirhams, while the volume of the real estate trading was estimated at 3.3 billion dirhams, which were traded over a total area estimated at 1.8 million square meters.
H.E. Nasser Al Marzouqi, Deputy Director-General of the Department of Land and Real Estate Regulatory confirmed that the real estate sector in the Emirate of Ajman has maintained its positive levels thanks to the proactive measures and decisions enacted by the Ajman government, which has a positive impact and contributed significantly to limiting the repercussions of the new Corona epidemic – Covid 19- which it cast a shadow over the global economy.
Al Marzouqi explained that the volume of real estate investments during the past year was estimated at 4.6 billion dirhams, as the volume of the citizens’ investments reached 2.3 billion dirhams, while the foreign investments amounted to 2.1 billion dirhams, with recording 143 million dirhams as investments of citizens of the Gulf Cooperation Council countries.
Al Marzouqi stated that the highest sale value during the year 2020 was recorded in the “Eastern sector” in “Al Zahia” district which amounted to 416 million dirhams. Moreover, the highest mortgage value was estimated at 467 million dirhams in “Al Jurf 1” district of the Central Sector.
As for the most popular districts, “Al Zahia” district came in the first place, followed by “Al Yasmeen” district and “Al Alia” district respectively. The “Emirates City” project tops the list of the most popular projects ahead of the “Lulua Ajman” and “Ajman 1” projects.