Ajman: Real estate transactions in Ajman were valued at Dh11 billion in 2015, announced the emirate’s Real Estate Regulatory Agency (Rera).
Shaikh Abdul Aziz Bin Humaid Al Nuaimi, the chairman of Rera, said that the transactions for real estate units in completed projects was higher than those in ongoing projects. Al Nuaimi said that 4,032 units were sold in seven freehold real estate projects, a 27 per cent increase from last year. He pointed out that in 2015, a total of 1,147 transactions valued at Dh450 million were recorded in freehold projects, while transactions in 2014 amounted to 920 and were valued at Dh352 million.
Al Nuaimi said that Asians and Europeans were the biggest investors in the emirate’s real estate market, while on the Gulf Cooperation Council level, Kuwaitis were the biggest investors, followed by Saudis and Emiratis.
He indicated that the real estate sector in Ajman is witnessing an unprecedented urban boom, and said that the numbers signify some form of stability in the purchase of real estate units in completed and ongoing projects. He added that real estate transactions are expected to rise this year, and that the sector will witness gradual growth starting from mid-2016.