Ajman Municipality and Planning Department announced that the value of rental transactions has increased in 2024  with the total lease hitting AED4.9 billion ($1.3 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, said the emirate was becoming a top attraction for residents, visitors and investors, as it had all the elements that provide an ideal and safe living environment.

 

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.

 

The emirate has become a preferred destination for visitors thanks to its luxurious amenities and modern facilities that guarantee a unique experience for visitors, said Al Nuaimi. 

 

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.

 

Thanks to Ajman's strategic location, it is a key link between the other emirates, and plays a significant role in increasing demand for residential, commercial, and investment contracts.

 

Ammar Abdul Karim Al Kayed, MPDA's Director of Rental Regulation Department, said the attestation of all types of rental contracts, including residential, commercial, and investment contracts, witnessed a significant increase last year compared to 2022 and 2023.

 

The cadres completed 100,236 residential contract transactions, 37,855 commercial contract transactions, and 269 investment contract transactions, he added.