His Excellency Eng. Omar bin Omair Al Muhairi, Director General of the Department of Land and Real Estate Regulation in Ajman, confirmed that the real estate market in the emirate witnessed the registration of 2,937 real estate transactions during the first quarter of 2022 with a total value of 3.2 billion dirhams and a growth of 18.5% compared to the same period last year. The total volume of trading amounted to 2.2 billion dirhams out of a total of 2336 transactions, and 385 mortgage operations were recorded, with a total of 248 million dirhams.

Al Muhairi said that the achieved growth rate reflects the positive upward performance witnessed by the real estate sector, stressing its importance as a major driver of economic development in the emirate, given its diversity and attractiveness, which led to an increase in the flow of local and foreign investments and strengthened Ajman’s position as one of the most prominent real estate investment destinations.

The Director General of the Department of Land and Real Estate Regulation indicated that the Bahia area witnessed the highest value of allegiance at 45 million dirhams, while the highest mortgage value was recorded in the “Al Rashidiya 3” area with a value of 126 million dirhams. “Al-Yasmeen” neighborhood came on top of the list of the most traded neighborhoods, followed by “Al-Zahia” and “Al-Alia”.