The Ajman real estate market is buzzing with activity, witnessing a substantial surge in transactions during the first quarter of 2024. According to official data released by the Department of Land and Real Estate Regulation in Ajman, the value of real estate transactions soared to an impressive AED1.92 billion ($523 million) during this period.
Upward Trend in Real Estate Transactions
Omar bin Omair Al Muhairi, the Director-General of the Department, unveiled that a total of 400 real estate valuation transactions were recorded, contributing significantly to the burgeoning market. This surge reflects a promising 129% increase in personal valuation transactions compared to the same period last year.
Growth Catalysts: Golden Visas and Economic Advantages
Of particular note is the surge in transactions among investors holding golden visas. The department meticulously documented 277 valuation transactions, amounting to a substantial AED669 million ($182 million). This underscores the growing allure of Ajman as a prime investment destination, propelled by its economic incentives and diverse attractions.
Commercial Real Estate Takes the Lead
The real estate landscape in Ajman witnessed a remarkable shift, with commercial properties taking precedence over residential ones. Commercial real estate transactions experienced a notable 10.34% increase, surpassing AED1.4 billion ($406 million) in value. In contrast, residential transactions amounted to AED317.5 million ($86 million).
Diversification in Real Estate Investments
While commercial properties dominated the scene, industrial real estate transactions also garnered significant attention, totaling AED164 million ($45 million). This diversification signifies a growing trend of investors exploring varied opportunities within Ajman’s real estate sector, drawn by its promising investment climate and economic vibrancy.
Projected Growth and Market Outlook
The robust performance of the Ajman real estate market in Q1 2024 sets a promising tone for future growth. With ongoing economic developments, diverse attractions, and a conducive investment environment, the market is poised for sustained momentum in the coming quarters.
In conclusion, the surge in real estate transactions underscores Ajman’s emergence as a thriving investment hub in the UAE, offering lucrative opportunities across diverse property segments. As investors continue to flock to this dynamic emirate, the real estate market is poised for further expansion and prosperity in the times ahead. Contact us
