Middle East

4.3 billion dirhams, the value of real estate transactions in Ajman during the first quarter, a growth of 26.6%

Ajman, April 19 / WAM / The number of real estate transactions in the Emirate of Ajman during the first quarter of the current year 2024 reached 3,839 real estate transactions, with a total value estimated at 4.3 billion dirhams, with a noticeable growth of more than 26.6% compared to the same period in 2023.

Sheikh Abdulaziz bin Humaid Al Nuaimi, Head of the Department of Land and Real Estate Regulation in Ajman, said that the results of the real estate sector’s performance during the first quarter of this year translate the visions of the wise leadership and support its efforts and endeavors aimed at advancing the economic system in the emirate and enhancing its competitiveness in various fields.

He explained that the Ajman Real Estate Investment Exhibition, which was held last February, contributed directly and positively to stimulating the performance of the real estate market and the rise in the results of the first quarter, explaining that the exhibition witnessed the conclusion of 336 real estate deals with a total value of 195.8 million dirhams, which reflects the confidence of investors and the attractiveness of the real estate sector in view of the components. The huge investment potential that the emirate possesses, its promising projects, and the diverse opportunities it offers to investors.

The statistics contained in the quarterly real estate report issued by the Department of Land and Real Estate Regulation revealed that the volume of real estate trading in Ajman amounted to 2.85 billion dirhams out of a total of 2,845 trading transactions, where 747 mortgage transactions were recorded with a total value of 930 million dirhams.

According to the report, the “Al Jurf 2” area witnessed the highest sales value at 165 million dirhams, while the highest sale value of real estate development projects in “Al Zorah” was recorded at 2 million dirhams, and “Al Rawda 1” witnessed the highest mortgage value at 20.9 million dirhams.

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