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Real estate transactions of 1.9 billion dirhams in Ajman during May 2023

June 15th, 2023 News,Latest News

Real estate transactions of 1.9 billion dirhams in Ajman during May 2023

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H.E. Eng. Omar bin Omair Al Muhairi, the Director General of the Department of Lands and Real Estate Regulation, confirmed that the real estate market has witnessed 1000 real estate transactions during May, with a total value of 1.9 billion dirhams, while the trading volume reached 649 million dirhams, realizing remarkable growth of 133% compared to the same period in 2022. He also indicated that the Department has registered 779 trading transactions, with a total value of 1.36 billion dirhams. While, the highest sales value was recorded in “Al Ameera” area, with a value of 380 million dirhams.

The Director General of the Department of Lands and Real Estate Regulation said that the high rates of growth and the positive numbers registered during May confirm the strength and solidity of real estate market that continues its upward course and record performance. Moreover, Ajman has witnessed marked increase in the volume of investments, while maintaining its activities and promoting its position as one of the important destinations for real estate investment, due to the various investment opportunities and prices that are appropriate to the needs of different categories of investors, in addition to other attractions, namely the ease of doing business, increasing transparency and accelerated development of infrastructure.

Al Muhairi added that the Department recorded 156 mortgage transactions with a total of 395 million dirhams. The highest mortgage value of 173 million dirhams was recorded in “Al Ameera” area. While, “Al Yasmeen” neighborhood went on the top of the list of the most traded neighborhoods, followed by “Al Helio 2” and “Al Zahia”. The “Ajman One” project topped the list of the most actively traded major projects, ahead of both “Emirates City” and “Ajman Pearl” projects.

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