AJMAN, (Pakistan Point News - 18th Jul, 2023) Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation, confirmed that the real estate market had witnessed 1,101 real estate transactions during June worth AED1.2 billion, while the trading volume reached AED791 million.
Al Muhairi noted that the highest sale value of AED37 million was recorded in “Al Yasmeen” neighbourhood.
Al Muhairi indicated that the increased activity in the real estate market was expected because of the high volume of investments. This was due to the supportive incentives and exceptional facilities offered by the Emirate of Ajman to investors, making the real estate sector one of the fastest-growing sectors and the most important pillars upon which the local economy is based. It is a major contributor to the activity of the rest of the vital sectors.
The local real estate market maintained its uptrend performance and registered positive figures in June, he added.
Al Muhairi said that the department recorded 148 mortgage transactions in June worth AED255 million. The highest mortgage value of AED32.6 million was recorded in “Al Rashidiya 1” area.
