What To Know
- This unprecedented increase in various forms of real estate, especially in the commercial department, saw the Ajman sector’s worth reaching a value of $199 million by May 2024.
- What can also be noted is that the number of real estate valuations carried out by the Department of Land and Real Estate Regulation in Ajman touched 169, manifesting the sector’s continued growth.
- 2 million ($119 million), a level that represented a 197 percent increase in comparison to the April 2024 figure and which indeed trumped the valuation of industrial properties valued at AED148.
This unprecedented increase in various forms of real estate, especially in the commercial department, saw the Ajman sector’s worth reaching a value of $199 million by May 2024. What can also be noted is that the number of real estate valuations carried out by the Department of Land and Real Estate Regulation in Ajman touched 169, manifesting the sector’s continued growth.
Ahmed Khalfan Al Shamsi, the Director of Real Estate Registration, explained that the real estate valuations encompass property types for commercial, residential, industrial, and agricultural uses. In a development that saw it lead by example for the other subsectors, the commercial property was valued at AED437. 2 million ($119 million), a level that represented a 197 percent increase in comparison to the April 2024 figure and which indeed trumped the valuation of industrial properties valued at AED148. 45 million ($40. 4 million).
Further, the May report included specific single stock transaction valuations with partners, court valuations, institutional valuations and long-term valuation concerning golden residency visa for investors. These processes made up 142 and the total value of all these processes was more than AED 334 473 825,91 ($91,2 mln), proving that Ajman’s real estate is characterized by activity.
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