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808 million dirhams, the volume of real estate transactions

December 7th, 2022 News

808 million dirhams, the volume of real estate transactions

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The Department of Lands and Real Estate Regulation in Ajman announced the registration of 824 real estate transactions during the month of October, with a total value of 808 million dirhams, while the total volume of transactions was estimated at 576 million dirhams, as “Al Nuaimiya 1” witnessed recording the highest sales value of 37.5 million dirhams.

His Excellency Eng. Omar bin Omair Al Muhairi, Director General of the Department of Lands and Real Estate Regulation, said that the general performance of the real estate market in Ajman reflects the increase in direct demand for real estate and confirms the continuous boom that this sector is witnessing thanks to the stimulating investment environment and the supportive government facilities that have significantly contributed to enhancing the attractiveness and success of the Emirate of Ajman in attracting more foreign investments, which is a strong indication of the solidity of the real estate sector and its suitability to the aspirations of investors.

Al-Muhairi indicated that the department recorded 118 mortgage transactions, with a total value of 162 million dirhams, where the highest mortgage value was recorded at 7.6 million dirhams in the “Al-Hamidiyah 2” area, and the “Al-Yasmine” neighborhood came on top of the list of the most heavily traded neighborhoods, followed by “Al-Zahia” and “ Bahia”. The “Emirates City” project topped the list of the most actively traded projects, ahead of the “Ajman One” and “Al Khor Towers” projects.

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