The Department of Land and Real Estate Regulation in Ajman held a real estate auction, in which a group of residential and investment lands in both “Al Helio 2” and “Al Zahia” were displayed.

The auction held at Ajman Saray Hotel in the presence of H.E. Engineer Omar bin Omair Al Muhairi, the Director General of the Department of Land and Real Estate Regulation, and a number of entrepreneurs and investors wishing to purchase the offered properties. The auction witnessed the sale of 12 plots of land with a total area of 2,160 sq. m.

H.E. Engineer Omar bin Omair Al Muhairi, the Director General of the Department of Land and Real Estate Regulation, confirmed that the real estate auction achieved its desired goals and witnessed a high turnout, given the suitability of the lands offered to the requirements of a wide segment of investors, as the total value of the lands sold amounted to 3.35 million dirhams.

Al Muhairi added that the new mechanism adopted to hold real estate auctions in the Emirate of Ajman represents a major part of the continuous modernization and development plan pursued by the Department to keep pace with the rapid development and remarkable progress witnessed by the Emirate of Ajman at all levels, the ideal investment environment, and the supportive and stimulating economic climate that contributes to achieving overall sustainable development.

Mr. Yousef Rashid Al Shamsi, the Chairman of the Auctions Committee at the Department of Land and Real Estate Regulation, said that the lands offered for auction range in area between 160 and 280 sq.m. He stressed that the Department was keen to hand over land ownership to investors immediately and directly after registering the plot of land at the venue of the auction.