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The trading volume in the emirate reached AED950 million from 1,005 individual transactions 

The “Helio 2” area had the highest sales, amounting to AED 38.7 million, according to the director-general of Ajman’s Department of Lands and Real Estate Regulation. (Photo Credit: WAM)

Ajman saw in August 2024 a total of 1,264 real estate transactions, accumulating over AED1.57 billion ($427.4 million) in value. 

Omar bin Omair Al Muhairi, the director-general of Ajman’s Department of Lands and Real Estate Regulation, reported that the trading volume in the emirate reached AED950 million from 1,005 individual transactions. He highlighted that the “Helio 2” area had the highest sales, amounting to AED 38.7 million. 

Ajman Chamber launches strategy to attract investment, foster innovation, and drive economic growth

Al Muhairi noted, according to WAM, a growth of 4.6 percent in real estate transactions compared to the same period in 2023, as indicated by the department’s real estate report. He emphasized that the sector in Ajman is experiencing remarkable activity and continues to demonstrate positive trends, providing various investment opportunities and attracting a larger pool of investors, which has further boosted demand for real estate.

Additionally, the director-general mentioned that the department recorded 184 mortgage transactions, totaling AED267 million, with the peak mortgage value reaching AED14 million in the “Al Nuaimia 1” area.

Last month, the Ajman Chamber of Commerce and Industry (ACCI) launched its ambitious 2024-2030 Strategy, led by Chairman Abdullah Mohammed Al Muwaiji. This comprehensive initiative aligns perfectly with Ajman Vision 2030, incorporating its strategic objectives and eight core principles. The strategy aims to propel Ajman’s economic growth, foster a thriving business environment, attract investment, and champion innovation and sustainability across diverse sectors.

source: Economy Middle East

The Land and Real Estate Regulatory Department in Ajman, the real estate market in the city experienced substantial growth during the first half of 2024. A total of 7,071 transactions were recorded, with a combined value exceeding $2.45 billion (AED 9 billion). This marks a 33% increase compared to the corresponding period in 2023.

Furthermore, from the total transactions, 2,039 transactions were made by citizens, amounting to $811.32 million (AED 2.98 billion), while foreign investors made 5,139 transactions, totalling $1.647 billion (AED 6.048 billion). This demonstrates a remarkable 88% increase in foreign investment.

In the first half of the year, the volume of real estate transactions in Ajman totalled 5,449, amounting to $1.671 billion (AED 6.139 billion). This marked a 37% increase from the previous year. Furthermore, 1,205 mortgage transactions were recorded, with a total value of $489.24 million (AED 1.797 billion) during the same period.

The rental market in Ajman also experienced a notable 49% surge in transaction value in the first half of 2024, reaching $619.93 million (AED 2.277 billion).

AJMAN, 4th August, 2024 (WAM) — Sheikh Hamad bin Nasser Al Nuaimi, Director of the Member Affairs Department at the Ajman Chamber of Commerce and Industry (ACCI), stated that the total memberships of the ACCI reached 19,372 memberships during the first half of 2024, and the total number of certificates of origin reached 22,693 certificates.

He commended the developments in the economic sector in the emirate and the attention and follow-up it receives from the wise leadership.

He clarified that enhancing the competitive business environment, investment climate, and propelling economic development came at the top of the directions of Ajman Vision 2030.

Furthermore, he stressed that the ACCI seeks to achieve the emirate’s directions and objectives aimed at encouraging and facilitating investment, creating a favourable environment for business, developing the volume of trade, and developing entrepreneurship, start-ups and small and medium enterprises.

The Director of the Members Affairs Department announced the list of countries to which exports are made from Ajman, with Iraq and Saudi Arabia topping the list, followed by Kuwait, Turkey, and Ethiopia, during the first half of 2024.

Jamila Kajoor, Director of Member Relations and Support at the ACCI, revealed that the membership of the ACCI grew by 4 percent during the first half of this year, as the number of industrial establishments reached 800 memberships compared to 770 during the first half of 2023. This reflects the development of the industrial sector and the emirate’s distinction as an attractive destination for industrial investments and a sustainable environment for industrial establishments.

She also emphasised that the ACCI aims to increase the membership of industrial establishments in the emirate and contribute directly to achieving the directions of the National Strategy for Industry and Advanced Technology, in addition to keeping pace with its objectives aimed at attracting industrial investments, enhancing the competitiveness of national industries, stimulating innovation, and encouraging the industrial sector to use innovative solutions and artificial intelligence to raise production levels, develop local products, and open new foreign markets.

(source: https://www.wam.ae/en/article/141thc4-800-industrial-establishments-ajman-during-first)

AJMAN, 23rd June 2024 (WAM) — In recent years, the Emirate of Ajman has implemented a strategic economic diversification plan, fostering balanced development across all sectors. This includes a focus on tourism, which has emerged as a vital pillar for Ajman’s comprehensive growth strategy.

Official statistics demonstrate a significant upsurge in tourism in 2023. Compared to 2022, there was a 29% increase in tourist arrivals from outside the country. Notably, international visitors comprised a substantial 60% of Ajman’s total visitor base in the same period. Visitor demographics reveal a strong appeal across age groups, with young travellers (aged 19-35) and middle-aged explorers (aged 36-55) forming a combined 70% of total arrivals.

This positive trend continues into 2024. Tourist arrivals for the first quarter witnessed a further 9% growth compared to the same period in the previous year, solidifying Ajman’s position as a preferred travel destination. The average length of stay also increased by 5%, indicating a growing preference among visitors to extend their exploration of the emirate’s offerings.

Fast-paced developments

In line with the directives of H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman aimed to meet the requirements of the fast-paced developments in this major sector, the emirate of Ajman has spared no efforts to cater to a diverse clientele and budgetary needs, offering a comprehensive selection of 52 accommodation options. The emirate boasts a range of establishments, from luxurious five-star resorts to convenient hotel apartments and well-appointed furnished accommodations, ensuring a perfect fit for every visitor’s preferences.

In recognition of this substantial increase in tourist arrivals, the Emirate of Ajman has strategically implemented a new Holiday Homes Sector. This sector adheres to the highest international standards and empowers a wider range of stakeholders to participate in the tourism ecosystem. Real estate owners, hotel management companies, and individual property holders can now offer short-term rentals of residential units specifically designated for holiday purposes.

The primary objective of this initiative is to diversify the existing accommodation landscape in Ajman. This expansion caters to the evolving preferences of visitors, offering them a more flexible and personalised lodging experience.

The introduction of the Holiday Homes Sector is anticipated to not only enhance tourist activity but also contribute significantly to the economic growth of Ajman. This will be achieved through the creation of new employment opportunities for residents and the stimulation of associated economic sectors.

To guarantee a seamless and high-quality experience for both visitors and property owners, Ajman’s Department of Tourism Development has established a comprehensive regulatory framework for the Holiday Homes Sector. This framework prioritises:

-Streamlined Electronic Registration: A user-friendly online platform facilitates efficient registration for owners and companies, allowing for the electronic submission of all necessary documentation.
-Rigorous Inspections and Classification: Ajman Tourism Development Department conducts thorough inspections of registered units to ensure adherence to established tourism standards. Based on these inspections, units are assigned classifications that uphold service quality expectations.
-Transparent Electronic Permit Issuance: Upon successfully completing the registration process and payment of designated fees, an electronic permit is issued for clear display within the respective unit.
-Commitment to Regulatory Compliance: Clear guidelines and legislation have been established, requiring owners and operators to strictly adhere to these regulations to guarantee exceptional service delivery.

(source: https://www.wam.ae/en/article/b3t6mdh-ajman-thriving-tourism-destination)

Ajman’s real estate market witnessed remarkable growth in the first half of 2024, with 7,071 transactions valued at over AED 9 billion, reflecting a 33% increase compared to the same period in 2023.

According to a report by Ajman’s Land and Real Estate Regulatory Department, these transactions were distributed as follows: 2,039 transactions for citizens, totalling AED 2.98 billion, and 5,139 transactions for foreign investors, totalling AED 6.048 billion, reflecting an impressive 88% growth.

Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Department of Land and Real Estate Regulation in Ajman, highlighted the emirate’s significant achievements across various sectors. He emphasized the real estate sector’s alignment with Ajman’s continuous development and economic progress, attributing this success to the wise vision of H.H. Sheikh Humaid bin Rashid Al Nuaimi, Member of the United Arab Emirates Supreme Council and Ruler of the Emirate of Ajman, and the diligent efforts of His H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of the Emirate of Ajman, Chairman of Ajman Executive Council. Their leadership has positioned Ajman as an attractive destination for real estate investments.

He added that the real estate sector in Ajman has seen remarkable growth in recent years due to the emirate’s provision of facilities and success factors for investors and their projects, its flexible legislative environment that attracts investments, the ease of registration procedures, the speed of transaction completion, and the advanced modern infrastructure of the emirate.

Sheikh Abdulaziz bin Humaid Al Nuaimi emphasized that the growth achieved by the emirate’s real estate sector reflects investors’ confidence in Ajman as a leading investment destination and strengthens the sector’s robustness. It also reflects the success of the Department of Land and Real Estate Regulation’s strategy aimed at providing an integrated and distinguished business environment for investors of various categories.

The department’s report mentioned that the volume of real estate transactions in Ajman during the first half of the year reached 5,449 transactions valued at 6.139 billion dirhams, an increase of 37% compared to last year. Additionally, 1,205 mortgage transactions were recorded with a total value of 1.797 billion dirhams over the past six months.

The report explained that the areas of Al Yasmeen, Al Zahia, and Al Helio 2 had the highest real estate transactions (ownership) during the first half of 2024, while the eastern sector was the most active during the same period, followed by the southern and northern sectors.

The report identified several key reasons for the increase in foreign investment in the emirate, most notably the promotional activities in the emirate, especially the Ajman Real Estate Investment Exhibition, which saw the signing of 336 deals worth 195.8 million dirhams. Other reasons include the emirate’s excellent and central location among the Emirates, its flexible laws and regulations that attract investment, the variety of models offered in the real estate market, the ease of obtaining financing for residential and commercial projects, and the availability of facilities that allow foreigners to purchase and own property up to 100%.

source: https://ajmanre.gov.ae/en/news/real-estate-transactions-in-ajman-reach-aed-9-billion-in-the-first-half-of-2024/

The Department of Economic Development in Ajman (Ajman DED) organized a Strategic Retreat with its partners, entitled “Together We Create Success” to formulate and define the features of Ajman DED’s new strategy for the years 2025-2029. This is based on the its keenness to involve all stakeholders, including the community, partners, and customers, to learn about their needs and future aspirations to build the future of the emirate’s economy. 

This retreat was attended by H.E. Abdullah Ahmed Al Hamrani, Director General of the Ajman DED, and its first and second level leaders, with participation of 29 local, federal government, and private sector entities in the country. 

During the session, four main topics were discussed: Future Approaches, Added Value, Effective Communication, and Partnership & Integration, which resulted in many proposals put forward by partners, and many joint initiatives and projects. 

This session falls within a series of meetings and harmony and integration sessions with stakeholders, influencers, and those affected by Ajman DED’s work and activities to consolidate relationships, overcome challenges, develop strategies and policies, and promote sustainable economic development.

source: https://www.ajmanded.ae/en/media-center/news/under-the-slogan-together-we-create-success-ajman-ded-organizes-strategic-retreat-with-its