Real estate transactions in Ajman surge 39% compared to 2015
The Ajman Real Estate Conference 1, being organized by the Real Estate Regulatory Agency – Ajman [ARRA], the state-run institution mandated with regulating the real estate activities and developments in Ajman, was inaugurated this morning by Sheikh Abdul Rahman bin Ali bin Khalifa Al Khalifa, Director General of Survey and Land Registration Bureau – Bahrain, Sheikh Mubarak Al-Otaibi, prominent business leader – Saudi Arabia and Mr. Farook Mahmood, Founder President and Vice Chairman NAR – India Silverline Realty P.LTD
Being held under the patronage of H.H. Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman and Member of the UAE Supreme Council and in the presence of H.H. Sheikh Ammar Bin Humaid bin Rashid Al Nuaimi, Ajman Crown Prince and President of the Executive Council, the theme of the one-day conference at Ajman Emirates Hospitality Center focused on ‘Sustainable Development According to Global Standards’.
The conference not only showcased the Real Estate project pipeline in the Emirate but also reinforced the Emirate as a stable investment destination. The conference was a huge success and brought 350 delegates and investors from across the GCC region, India, South Asia, and Pakistan among others and was aimed at harnessing the potential of the Real Estate sector in the Emirate.
H.E. Yafea Al Faraj, Executive Director of Real Estate Regulatory Agency – Ajman, said: “The ‘Ajman Real Estate Conference 1’ by Real Estate Regulatory Agency – Ajman is a major step forward for Ajman real estate sector and coincides with the strong growth on witness in the Emirate. These are exciting times for Ajman, and the immense growth potential on offer will get a major boost from the conference.”
He added: “The real estate transaction regulations in Ajman have been tightened and escrow accounts put in place. This, coupled with a stable market, offers the right environment for investments. Ajman has over 18,000 ready-to-occupy units available in the market by reputed developers, at unbelievable price points. We believe the Emirate offers returns on investments which are unmatched across the region.”
The ‘Ajman Real Estate Conference 1’ was organized in the midst of strong growth trends in the Ajman Real Estate sector. The Emirate has seen robust real estate activity in the year to date, with transactions worth Dh1.5 billion finalized. More than 18,000 freehold units were transacted during this period, up 39% compared to 2015.
The Conference also offered plenary sessions and workshops on the future of real estate and sustainable practices for real estate development in Ajman. Besides highlighting the future of real estate in Ajman, the conference also shed light on the International property measurement standards, sustainability in real estate projects, the role of social media in real estate marketing and held sessions for owners’ association.
The Real Estate Regulatory Agency – Ajman (ARRA) is a state-run institution. It has been established in Dec. 2008, according to the provisions of the Amiri Decree No (8) of 2008, as amended by the Amiri Decree No. (11)& (12) of 2008.
The Real Estate Regulatory Agency (ARRA) aims in general at regulating the real estate activities and its developments in Ajman and, put in place policies and legislations to authorize real estate projects/investment buildings. ARRA also oversees the implementation of these policies and other related plans, and regulates the joint ownerships