Ajman, UAE — Ajman real estate market grew 15.6 percent year-on-year to AED 7.17 billion ($1.95 billion) in the first half of 2023, according to data released by the emirate’s Department of Lands and Real Estate Regulation.
Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation, said a total of 5,310 real estate transactions were recorded during this period.
The trading volume accounted for AED 4.57 billion, involving 3,980 trading operations. Mortgage transactions numbered 972, translating to a total value of AED1.55 billion.
Al Muhairi also noted that this performance is in line with the consistent upward trajectory of the emirate’s real estate sector and can be primarily attributed 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 totaling AED1.9 billion, a 133 percent increase compared to the corresponding month in 2022.
