$4.6bln of real estate transactions in Ajman in 2023

$4.6bln of real estate transactions in Ajman in 2023

Ajman's property market soared in 2023, with a staggering 43% increase in transactions compared to the previous year. A total of 11,474 deals were registered, exceeding AED16.9 billion in value, according to the annual report issued by the Ajman Department of Land and Real Estate Regulation. A total of AED10.2 billion was traded across 8,675 transactions, with the highest sale reaching AED136 million in the Al Nakheel 2 neighbourhood. Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Department of Land and Real Estate Regulation, said that Ajman's economy experienced substantial growth in 2023 in various sectors, especially real estate. “Ajman's 2023 performance underscored the effectiveness of its targeted economic initiatives, showcasing the resilience and dynamism of its key sectors. The real estate market, bolstered by the leadership's forward-thinking vision and the government's regulations and investment facilitation measures, achieved remarkable milestones, with the upward trajectory expected to continue. This lays a strong foundation for the Emirate's sustainable economic development in the years ahead,” he said. He explained that the strategic goals of the Ajman Department of Land and Real Estate Regulation revolve around streamlining property registration processes to strengthen competition and boost economic growth. "By actively shaping its future and