Ajman has issued a new law to further develop the emirate’s real estate sector and attract more investment amid a UAE-wide property market boom. The legislation issued by Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman and Member of the Supreme Council, aims to protect the rights of investors in the real estate sector and boost transparency, Ajman Media Office stated, as it also aims to incentivise real estate activity across the emirate.
According to the report, "The law stipulates that its provisions will apply to real estate located in areas designated by the Ruler by a special decree, including vacant land built through real estate contributions, dilapidated buildings that are being reconstructed and under-construction buildings."
This announcement comes as the UAE’s property market continues to perform strongly, aided by government initiatives such as residency permits for retired and remote workers and the expansion of the 10-year golden visa programme.
Overall growth in the UAE’s economy due to diversification efforts also supports the property market. In 2024, Ajman recorded property deals worth Dh20.5 billion ($5.58 billion), up 21% on the previous year, Wam reported in January. The report added that the total number of deals during the period totalled 15,125, with Al Jurf 1 area recording the highest sale value of Dh300 million.
Sheikh Abdulaziz bin Humaid Al Nuaimi, chairman of the Ajman Department of Land and Real Estate Regulation, said, "The exceptional performance of the real estate market over the past year is evidence of the sector’s strength and a positive indicator that enhances Ajman’s position as a premier investment destination."
Additionally, property transactions in Dubai and Abu Dhabi surged last year. Dubai recorded real estate deals worth Dh761 billion, up 20% compared to 2023, with the total number of transactions for the year increasing by 36% to 226,000, according to reports.
Abu Dhabi recorded deals valued at Dh96.2 billion in 2024. The report added that the total value of deals for the year rose by more than 10% annually, while the number of transactions increased by about 24% to 28,249.
