UAE: 50% surge in lease contracts in Ajman as residents move to beat rising rents in Dubai, Sharjah
Residents and investors alike are increasingly turning to Ajman — a trend reflected in the 50 per cent growth in the number of lease contracts for the year 2024.
Ajman Municipality and Planning Department also announced a total value of rental transactions in the emirate amounting to to Dh4 813 billion to Dh4.929 billion, a growth of AED 1. 646 billion compared to 2022. The boom has excited some of the new residents lured to the emirate with low prices, contemporary amenities and a bustling neighborhood life, they say."
Ajman is speedily positioning itself as a first-class place for residents and visitors and investors, Abdul Rahman Al Nuaimi, Director General of Ajman Municipality and Planning Department, said. He stressed that the emirate provides all the basic components for a safe and perfect environment to live in. He added that the Emirate of Ajman must well-equipped amenities and facilities and that the modernity of its facilities constitute the attracting base for its visitors who are seeking uniqueness in their experience during their visits.
Christine Adolf, who relocated from Dubai to the Yasmine area of Ajman in October 2023, said: "Ajman, for my father and I, is such a lovely place to be! Extremely cheap, and best value per buck." She also commented that if she was working remote or freelance, this would surely be the place she would stay.
Everybody is so nice, have a lot of things to do, many restaurants and home shopping options, including a lot of 1-dirham stores. Al Yasmine, the area where I used to live, has really evolved and now appeals to a broad segment of the UAE population, who benefit from a minimum payment plan stretch of 7 or more years with zero interest, she said.
Khaled Abdul Salam said that he moved to Ajman from Sharjah in January this year based on advice he had received from many friends for various reasons, especially the major development of infrastructure and services in the city.
All your needs can be found in the city via the various shopping central point not going to different urban communities in the UAE. There are also play areas for kids and families,' he added.
Khaled also made the decision to check this himself by taking frequent trips out to the city before making his choice – and he too was impressed at how far Ajman had come along on such a high level of development, in such a short space of time.
One thing connected with this is that when I started to transfer my belongings to my new home in Ajman, I was again amazed at how easy and seamless the procedures were, and most transactions were carried out online. Personal attendance was required to complete the procedures, and I dealt with extraordinarily courteous, polite, and professional employees. Actually, my choice of migration to Ajman is so clever." he added.
Real estate consultant Abu Bakr Muhammad said Ajman has turned to be the core of investment due to the increasing demand of the residential and commercial properties in recent years. It is high on buyers with competitive pricing and flexible payment plans.
ISHNAD: The rental market has also enlarged with good, affordable prices and close to Dubai attracting residents. He said: 'Ajman is attracting local and international investors, buoyed by economic stability and a host of diversified development projects that is upgrading its position in the real estate environment within the UAE.
The emirate's strategic geographic location, acting as a critical link among the other emirates, has driven up the demand for residential & commercial and investment contracts, the Director General of Ajman Municipality said. He noted that Ajman will continue to attract investments and undertake development projects while making sure that different sectors will grow sustainably and successfully.
He also underlined the emirate's free and flexible regulations stimulating entrepreneurial growth. In addition, the municipality has introduced mechanisms to what it terms smart transformation, through which it has then been able to simplify transaction processes, in turn, reducing turn-around time on its service deliveries.
Ammar Abdul Karim Al Kayed, Director of the Rental Regulation Department, also noted that the attestation of all types of rental contracts, whether residential, commercial, or investment– has been witnessing a significant increase in the year 2024 than in the previous years.
The department has successfully processed 100,236 residential contract transactions, 37,855 commercial contract transactions, and 269 investment contracts.
Keeping pace with the customer experience, and the Ajman Municipality and Planning Department has continued the development of integration projects with partners, in addition to continuing to implement electronic and smart systems with the aim of completing transactions faster.
This comes in line with the strategic goal of the Department to realize a balanced urban development and promotes customers happiness in Ajman.
Comments