The Ajman Municipality and Planning Department has announced that the value of construction contracts in the emirate grew 62.5 percent, surpassing AED9.655 billion ($2.6 billion) in 2024. This aligns with the emirate’s strategic objective of promoting sustainable development within the construction and building industry.
Abdul Rahman Mohammed Al Nuaimi, director-general of the Department, emphasized that the value of contracts experienced remarkable growth in comparison to 2023, when it totaled AED5.936 billion ($1.6 billion). He also underscored Ajman’s success in establishing itself as a modern emirate that guarantees a high quality of life for residents, visitors, and tourists while also creating an ideal investment climate for successful and sustainable projects across diverse sectors.
He further pointed out that the increase in the value of construction contracts reached 62.66 percent compared to 2023. This growth is attributed to ongoing efforts, strategic planning, and innovative policies aimed at enhancing service excellence in building permit issuance, streamlining processes, and elevating the emirate’s global competitiveness.
Read more: 173 real estate transactions in Ajman: $162.8 million total and 88 percent yearly growth
Trading in real estate development projects surpasses $392 million
The value of trading in real estate development projects in Ajman exceeded AED1.44 billion ($392 million), marking a notable increase of 67 percent compared to 2023, as per the annual Real Estate Report from the Department of Land and Real Estate Regulation in the emirate.
Omar bin Omair Al Muhairi, director general of the Department of Land and Real Estate Regulation, stated that the real estate market in Ajman continued its exceptional activity throughout the past year, witnessing a significant rise in the number of trades in real estate development projects, which reached 3,624 trading operations—an increase of 44 percent compared to 2023.
Al Zorah area leads in real estate sales value
Al Muhairi pointed out that the Al Zorah area experienced the highest sales value in real estate development projects, totaling AED6.92 million. He explained that the “Gold Crest Dream” project emerged as the most traded project, followed by the “Lilies Tower – B” and “Lavender Tower” projects.
The Director General of the Department of Lands and Real Estate Regulation confirmed that all real estate development projects are subject to ongoing monitoring and periodic field visits to assess the commitment of real estate development companies and management firms in providing comfort to residents and enhancing the quality of life in various residential complexes.
Saeed Al Matrooshi, director of Real Estate Project Management, remarked that the growing performance of the real estate market reflects the attractive nature of Ajman and the caliber of its real estate investments, attributed to its well-developed infrastructure and various attractions that meet investors’ expectations. He indicated that the Al Zorah area has recorded the highest mortgage value in real estate development projects.
