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- 2.7 billion dirhams, the volume of real estate transactions in Ajman during the first quarter of 2021
2.7 billion dirhams, the volume of real estate transactions in Ajman during the first quarter of 2021
The Department of Land and Real Estate Regulation in Ajman recorded 2,082 transactions during the first quarter of this year. The volume of real estate transactions amounted to 2.7 billion dirhams.
His Excellency Eng. Omar bin Omair Al Muhairi, Director General of the Department of Land and Real Estate Regulation, said that the performance of the real estate market in the Emirate of Ajman witnessed during the first quarter of 2021 an accelerated growth in the volume of investment and a remarkable recovery in the movement of buying and selling, as the total volume of real estate investment amounted to 1.4 billion dirhams. The month of March achieved a growth rate of 38.6% compared to last February.
Omar bin Omair expected that the real estate sector will witness more activity and improvement during the coming period, thanks to the efficacy of the proactive measures and stimulus economic packages approved by the wise leadership to confront the repercussions of the Corona pandemic and to achieve economic recovery and enhance the solidity of the real estate sector in the Emirate of Ajman.
It is worth noting that Al-Yasmeen neighborhood topped the list of the most traded neighborhoods. The real estate report revealed that 238 mortgage transactions were recorded with a total value of 775 million dirhams. The highest mortgage value for the land category was recorded at about 80 million dirhams in “Industrial Area 2”, while Al-Zawraa witnessed the highest registration Mortgage value for real estate units amounted to 3.75 million dirhams. “Al-Jurf Industrial Area 1” witnessed the highest sales value of 50 million dirhams.