Ajman Real Estate Property Transactions Rise 15% In H1 2023
The real estate market in Ajman posted a robust over 15 percent rise in property transactions to reach $1.95 billion (AED7.17 billion) in the first half of this year, data by the emirate’s Department of Lands and Real Estate Regulation showed. Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation, said that the January-June 2023 period witnessed a total of 5,310 real estate transactions, reflecting the robust demand for properties in the emirate. According to the land department’s data, trading volume accounted for AED4.57 billion, involving 3,980 trading operations, while mortgage transactions numbered 972, amounting to a total value of AED1.55 billion. Al Muhairi attributed the rise in the sector’s performance on H1 2023 to a sustained demand for properties and a steady inflow of investments in diverse real estate projects within the emirate. May, in particular, emerged as a notable month, witnessing a peak value of real estate transactions totalling AED1.9 billion, signifying an impressive growth rate exceeding 133 percent compared to the corresponding month in 2022.
Tags : real estate market Ajman rise property transactions Department of Lands and Real Estate Regulation Omar bin Omair Al Muhairi Director-General