The Emirate of Ajman has introduced a new law aimed at bolstering investment in its property sector while safeguarding investor rights and enhancing transparency. This legislative move is part of a broader strategy to position Ajman as a premier destination for real estate investment.
The law seeks to encourage private sector participation in developmental projects and attract both national and international investments across various domains. It is designed to enable the government to implement strategic projects more effectively, increase productivity, improve public services, and alleviate financial burdens on the public budget. Additionally, the legislation aims to support Ajman’s strategic plans for creating a sustainable economy.
In recent years, Ajman’s real estate market has demonstrated significant growth. In 2024, the emirate recorded 15,125 real estate transactions totaling over AED20.5 billion, marking a 21% increase compared to the previous year. This surge reflects the sector’s robustness and Ajman’s growing appeal as an investment hub.
The Department of Land and Real Estate Regulation in Ajman has been proactive in enhancing the real estate environment. By the end of 2024, the department had qualified 132 national real estate brokers, an 80% increase compared to 2023. The department aims to train and qualify 1,000 real estate brokers by 2030, aligning with the emirate’s vision to empower young Emirati professionals and integrate them into various fields, particularly real estate.
The new law also emphasizes the importance of governance by managing economic activities and promoting transparency in the real estate sector. It outlines conditions for partnership contracts between the public and private sectors, including requirements for projects to be economically, financially, technically, and socially feasible. Furthermore, any partnership contract involving financial installments to be paid by a government authority must ensure that the authority’s budget considers these financial allocations.
Ajman’s real estate sector has been a significant contributor to the local economy, with trading in real estate development projects reaching AED1.44 billion in 2024, reflecting a 67% increase compared to 2023. This growth is attributed to the emirate’s advanced infrastructure, diverse investment opportunities, and supportive regulatory environment.
The Department of Land and Real Estate Regulation has also implemented innovative solutions to enhance transparency and efficiency in the sector. For instance, the introduction of ‘eServices’ provides electronic calculations that offer estimated values for vacant lands based on market data, assisting owners and investors in making informed decisions. Additionally, the ‘Ajman One’ app combines ease, flexibility, privacy, and security, further improving the user experience for investors and stakeholders.
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