Ajman’s rental market witnessed a significant 49 percent increase in transaction value during the first half of 2024, reaching AED2.277 billion ($619.93 million), as reported by the Ajman Municipality and Planning Department.
Abdulrahman Al Nuaimi, director-general of the Department, stated that the surge in transactions reflects Ajman’s growing allure as a destination for living and investment, driven by government initiatives and infrastructure enhancements.
He highighted that Ajman’s strategic location and quality of life make it an attractive hub for both residents and businesses.
Ammar Abdul Karim Al Kayed, director of the Rental Regulation Department, revealed that residential rental contracts reached AED1.211 billion ($329.7 million) in H1 2024, while commercial and investment contracts amounted to AED989 million ($269.26 million) and AED80 million ($21.78 million), respectively.
Ajman’s real estate boom in H1 2024
Ajman’s real estate market witnessed significant growth in the first half of 2024, with 7,071 transactions valued at over AED9 billion ($2.45 billion). This reflects a 33 percent increase compared to the same period in 2023, according to a report by Ajman’s Land and Real Estate Regulatory Department.
Furthermore, the transactions were distributed as follows: 2,039 transactions for citizens, totaling AED2.98 billion, and 5,139 transactions for foreign investors, totaling AED6.048 billion. This represents an impressive 88 percent growth in foreign investment.
The volume of real estate transactions in Ajman during the first half of the year reached 5,449 transactions valued at AED6.139 billion, an increase of 37 percent compared to the same period last year. Additionally, 1,205 mortgage transactions were recorded with a total value of AED1.797 billion over the past six months.
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