Ajman: In May 2024, the Department of Land and Real Estate Regulation in Ajman completed 169 valuations of real estate properties, amounting to a total value exceeding AED729.5 million.
According to Ahmed Khalfan Al Shamsi, the Director of Real Estate Registration, these valuations encompassed various types of properties including commercial, residential, industrial, and agricultural units. Commercial properties constituted the largest share, valued at AED437.2 million, marking a significant increase of 197% compared to April 2024. Industrial properties followed with a total value of AED148.45 million.
Al Shamsi highlighted that the May report included diverse valuation processes such as individual transactions, assessments for legal purposes, and valuations required for long-term golden residency visas for investors. These processes amounted to 142 transactions, surpassing AED334 million in total value. This figure represented a notable 33% increase compared to the previous month.
The department’s efforts in conducting these valuations are crucial for maintaining transparency and accuracy in the real estate sector of Ajman. The increase in valuation activities reflects a growing demand and confidence in the local real estate market, particularly among commercial property segments.
The completion of these valuations also supports strategic initiatives aimed at enhancing investor confidence and supporting economic growth in Ajman property. It underscores the department’s commitment to facilitating property transactions and providing essential services to property owners, investors, and stakeholders in the region.
