Ajman leases hit $1.33bln in 2024, up 50%
The total value of lease contracts reached AED4.929 billion. The value of lease contracts recorded a growth of AED1.646 billion, with an increase of 50.13% compared to 2022, according to the Department's 2024 Annual Report.
Abdul Rahman Mohammed Al Nuaimi, Director General of Ajman Municipality and Planning Department, confirmed that the Emirate of Ajman has become a leading city that attracts residents, visitors, and investors, as it has all the elements that provide an ideal and safe living environment.
He added that the Emirate has become a preferred destination for visitors thanks to its luxurious amenities and modern facilities that guarantee a unique experience for visitors. He explained that the value of Residential Lease Contracts for the past year, 2024, amounted to AED2.647 billion, while commercial contracts recorded a growth of AED2.15 billion.
Investment Contracts reached AED266 million, which reflects that there is a growing demand for housing in the Emirate, in addition to a remarkable recovery in the commercial sector, as well as attractiveness of the Emirate's for quality investing.
Al Nuaimi noted that Ajman continues in its strong progress in attracting investments and supporting development projects, while ensuring its sustainability and success across all sectors.
He added that the Emirate's strategic geographic location, being a key link between the other emirates, has played a significant role in increasing demand for Residential, Commercial, and Investment Contracts.
He highlighted the wise directives of Ajman's wise Leadership, which places great importance on encouraging both citizens and investors by providing all kinds of support and facilities. He emphasized that the Emirate's legislation and regulations are flexible and provide a stimulating environment for entrepreneurs. As part of the Emirate's smart transformation, these initiatives have significantly contributed to accelerating transaction processing and providing services with high efficiency.
He added that Ajman Municipality and Planning Department continues to improve customer experience, thanks to its qualified staff who have worked towards developing integration projects with relevant partners and launching electronic and smart systems that contribute to completing transactions in a very short time. He explained that these efforts are in line with the Department's strategic goal of achieving Balanced Urban Development and improving the wellbeing of customers in Ajman.
For his part, Ammar Abdul Karim Al Kayed, MPDA's Director of Rental Regulation Department, explained that the attestation of all types of rental contracts, including Residential, Commercial, and Investment Contracts, witnessed a significant increase during the last year, 2024, compared to 2022 and 2023, as the cadres completed 100,236 Residential Contract Transactions, 37,855 Commercial Contract Transactions, and 269 Investment Contract Transactions.
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