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Ajman: 12 real estate projects to complete in 2016

Posted by Alpha Capital RE on May 16, 2016
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A total of 12 real estate projects will be completed in freehold areas of Ajman during 2016, according to a new report.

The report released by the Real Estate Regulatory Agency-Ajman (ARRA) said the number of projects is five more than in the previous 12 months.

It also said that around 3,000 residential units will be delivered by the end of 2016 – with real estate transactions totalling more than 1,100 during the first quarter of this year.

Transactions totalled 3,462 last year and the ARRA report predicts an increase of 20-25% in 2016.

According to Arabian Business, the report also stated that the total value of Q1 transactions reached around (AED140m) compared to (AED98m) during the corresponding period of the previous year.

The report also indicated that ARRA has completed the establishment of owner associations of nine projects, including Al Rashidiya, Falcon, Horizon, Al Khur, Al Nuaimiya, Corniche, Garden City, Ajman One and Lavender.