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16.9 Billion dirhams, the Value of Real Estate Transactions in Ajman during the year 2023

January 31st, 2024 News,Latest News

16.9 Billion dirhams, the Value of Real Estate Transactions in Ajman during the year 2023

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The Annual real estate report of the Department of Land and Real Estate Regulation in Ajman revealed that 11,474 real estate transactions were recorded during the year 2023, with a total value exceeding 16.9 billion dirhams, with an exceptional growth estimated at 43% compared to the year 2022, while the total trading volume reached 10.2 billion dirhams out of a total of 8,675 trading transactions, where the highest sale recorded in “Al Nakheel 2” at 136 million dirhams.

 

Sheikh Abdulaziz bin Humaid Al Nuaimi, Head of the Department of Land and Real Estate Regulation, said that the Emirate of Ajman witnessed during the year 2023 a comprehensive economic boom in various sectors, especially the real estate sector, which achieved record numbers that reflect the extent of its solidity and confirm the commitment of the wise leadership to support this vital sector thanks to its forward-looking vision aimed at consolidating Ajman’s position as a pioneer investment destination by providing a flexible and integrated business environment that supports various segments of investors and provides them with all the facilities and tools necessary for the success of their investment projects.

 

He explained that the strategic objectives of the Department of Land and Real Estate Regulation revolve around improving the real estate investment environment and contributing to economic growth by enhancing competitiveness in property registration and empowering the competencies of the real estate sector to be an important element and an effective partner in anticipating the future of the sector and drawing the features of the investment map in the region, stressing that the Emirate of Ajman is one of the fastest growing cities in the world and has become a modern, integrated city and a preferred place to live and work, where its residents enjoy security and prosperity.

​ For his part, His Excellency Engineer Omar bin Omair Al Muhairi, Director General of the Department of Land and Real Estate Regulation, said that Ajman is moving steadily towards achieving integrated development in various fields, thanks to the concerted efforts and constructive partnership that brings together various government agencies and institutions in the emirate, indicating that the record performance of the real estate market during the year 2023 is a true reflection of a clear leadership vision and strong economic foundation.

 

In detail, the Director General of the Department of Land and Real Estate Regulation confirmed that the year 2023 witnessed the registration of 1,971 mortgage transactions with a total value of 4.8 billion dirhams, with the highest mortgage value recorded at 221 million dirhams in the “Al Rashidiya 1” area, and the “Yasmine” neighborhood came at the top of the list of the most traded neighborhoods followed by “Al-Zahia” and “Al-Helio 2”. The “Emirates City” project also topped the list of the most traded major projects, ahead of both the “Ajman One” and “City Towers” projects. Regarding the most traded sectors, Al Muhairi explained that the eastern sector came first with a total value exceeding 3.9 billion dirhams, as this sector witnessed the trading of 1,667 vacant lands and 1,269 villas, in addition to 4 buildings and 6 shops.

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