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AJMAN / WAM
The annual real estate report issued by the Department of Land and Real Estate Regulation in Ajman highlighted the stable performance of the emirate’s real estate market, noting that real estate transactions in 2020 totalled AED8.9 billion.
Nasser Al Marzouqi, Deputy Director-General of the Department, stressed that Ajman’s real estate sector has maintained its positive performance, due to the proactive measures taken by the Ajman Government that reduced the impact of the coronavirus pandemic.
Real estate investments in the previous year were estimated to be some AED4.6 billion, with investments by citizens totalling AED2.3 billion and foreign investments accounting for AED2.1 billion, Al Marzouqi added, noting that investments by Gulf Cooperation Council (GCC) citizens totalled AED143 million.
The largest deal in 2020 was conducted in Zahya District in the Eastern Sector valued at AED146 million, and the largest mortgage was valued at AED467 million in Al Jurf 1 District, he said in conclusion.